The Armenian insurance market will be replenished with new products and innovative solutions, which will contribute to the dynamic development of the insurance sector in our country. Nairi Insurance company has started a strategic partnership with AXA Life and Health Reinsurance Solutions, one of the largest European insurance companies.
Laurent Pochat-Cottilloux, the company’s CEO, is in Armenia at the invitation of Nairi Insurance.

In an interview with Banks.am, Mane Martirosyan, Executive Director of Nairi Insurance, and Laurent Pochat-Cottilloux discussed the purpose of the visit, prospects for cooperation, and upcoming initiatives.

The purpose of the visit to Armenia and the beginning of cooperation

Laurent Pochat-Cottilloux, Chief Executive Officer of AXA
The purpose of my visit to Armenia is to launch a strategic partnership with Nairi Insurance. The decision to start a partnership with one of the leading companies in the Armenian insurance sector was made after I met Mane Martirosyan, the Executive Director of Nairi Insurance, at an insurance industry conference. Expanding our cooperation in the Caucasus region has been important for us and since Nairi Insurance is one of the leaders in the sector, we decided to make our entry into the region through cooperation with this company.

Health insurance, in particular, is a highly promising direction for our company. We are aware that the number of insured individuals in Armenia is increasing year by year. Our goal is to provide Armenian citizens with access to both local and international insurance products offered in the sector. In collaboration with Nairi Insurance, we plan to introduce an insurance package specifically tailored to local healthcare needs.

Our partnership also envisions a broader perspective, aiming to enhance the insurance market to better serve the citizens of Armenia.

Mane Martirosyan, Executive Director of Nairi Insurance company
Our cooperation with AXA Life and Health Reinsurance Solutions began months ago, and we are hopeful that it will strengthen Armenian-French business ties, particularly in the financial and insurance sectors. The cooperation is promising, as it will bring European expertise, new products, and innovative solutions to the Armenian insurance market as well as result in AXA’s participation in the local insurance market.  

In essence, the outcome of any cooperation is development. We want to introduce a strong and developed insurance system in Armenia, which is possible through collaboration with AXA - the world’s leading insurance company.

Insurance market

Laurent Pochat-Cottilloux
The Armenian public health insurance market is still in its initial stage, with ongoing changes and developments. We remain hopeful that, with the support of the private and public sectors, it will be possible to achieve good results. As for the Eastern European insurance market in particular, it is in a more favorable position, thanks to the well-established and stable cooperation between public and private sectors.
Since AXA collaborates with insurance companies in over 65 countries, I can confidently say that our company can bring its international experience to Armenia, particularly in the life and health insurance sectors, where I specialize. I firmly believe that changes will be noticeable, paving the way for a more resilient and robust insurance sector.

Mane Martirosyan
The Armenian insurance market is small, but it is dynamic and constantly evolving. We have much to learn from developed international insurance markets. Therefore, I believe that cooperation between newly created and developed, stable systems can generate significant value.

Programs and roadmap

Mane Martirosyan
The working groups of Nairi Insurance and AXA have already outlined the roadmap and drawn up short-term and long-term plans. We have taken certain steps toward achieving our short-term objectives, and today we can proudly say that our company has successfully completed the international compliance process, demonstrating high results.

Following this, we will begin importing a prestigious international insurance product to Armenia, allowing Armenian citizens to be insured with AXA and access high-quality medical services offered by AXA’s global partners. This program is unique for Armenia. I believe that it will be useful and will have a positive impact on the healthcare and treatment of Armenian citizens.

Our partnership with AXA is built on two components: the development of the Nairi Insurance and the promotion of sales. This will be achieved exclusively through the strengthening of Armenian-French business ties, directly contributing to the country’s economic growth and  creating an exclusive opportunity for Armenian citizens to receive top-notch European medical services through our partners.
We know that many of our citizens often travel to Europe and other countries for medical treatment. Now, with AXA insurance products available in Armenia, they will have the opportunity to receive an AXA insurance card which will enable them to register with AXA’s insurance partners anywhere in the world, granting access to unlimited medical services.

And in the long-term plans, having the support of the prestigious Armenian-French community and the French Embassy in Armenia at this moment, which I attach great importance to, we will be able to attract the AXA insurance company to the Armenian financial market.

Our development prospects clearly stem from these two strategic measures. I believe that this will bring significant change, develop the insurance market, strengthen Armenian-French business ties, and create new values for both our economy and our citizens.

Banks.am