The State Insurance Organization of Turkmenistan is completing the creation of a single information network, Neutral Turkmenistan newspaper reported.

“The use of a single network allowed to improve the communication, information exchange process and interaction between the employees of the State Insurance Organization, as well as its clients,” the newspaper said.

Shirali Amanov, the chief specialist of the organization said that the network allows the employees to work on a single technology platform with the common information database and to interact online.

The advantages of the computer-aided information technologies are: guarantee for the full security of the data at all stages of information processing and etc.

Earlier, it was reported that the Turkmen State Insurance Organization has an extensive network in the country of more than 40 offices. At this stage, the organization is expanding partnerships with leading international insurance, reinsurance companies and insurance brokers.

A considerable part of the reinsurance is implemented through such large insurance brokers in London insurance market as Marsh Ltd, AON Ltd, Colemont Ltd, HSBC and Willis Ltd. This allows ensuring prompt and adequate compensation for damage caused by an insured case.

The law 'On insurance' entered into force in Turkmenistan in 2013, defining its foundations as a direction of entrepreneurship.

According to the article of the law, foreign investors (insurance companies, reinsurers, insurance brokers) shall be entitled to perform insurance, reinsurance and brokerage activities through the establishment of joint ventures and upon obtaining the relevant license.

The share of foreign capital (investor) in joint insurers, reinsurers and insurance brokers should not exceed 49 percent of the charter capital.