Pasha Insurance
PASHA Insurance is Azerbaijan's leading non-life insurer, offering 36 compulsory and voluntary insurance products across motor, property, travel, and health lines to approximately 700,000 individual and corporate customers through 14 offices and a digital platform.
- Company typePublic
- Founded2006
- HeadquartersBaku, Azerbaijan
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Pasha Insurance does
PASHA Insurance OJSC is the market leader in Azerbaijan's non-life insurance sector, operating since 2006 under license No. 476 issued by the Financial Markets Control Chamber. The company is a subsidiary of PASHA Holding LLC and offers 36 types of compulsory and voluntary insurance products across motor (Full CASCO, Optimal CASCO, Parking CASCO, compulsory), property (Yasil Azerbaycan, Compulsory Home, Yakhin Gonshu, EVrika, household items), travel (overseas, domestic, student), and health (Mektebli, Corporate, Medico, Alternativ) categories. It serves approximately 700,000 individual and corporate customers with AZN 50 million in capital and dual international ratings (S&P BB+, AM Best BBB/B++ with Stable outlook).
The company operates a hybrid physical-digital distribution model: 14 representative offices across Azerbaijan (Baku HQ plus Sumqayit, Ganja, Agsu, Khachmaz, Lankaran, Zagatala, Barda, Shirvan, Goychay, Sabirabad, Nakhchivan, Tovuz, Shusha), a 24/7 call center at *7000, an iOS/Android mobile application, and an online customer cabinet for self-service policy management. Revenue is generated primarily through recurring insurance premiums across voluntary and compulsory lines, with corporate sales teams and relationship managers serving enterprise clients in oil & gas, construction, finance, and healthcare. The platform integrates with payment providers (Hesab.az, MilliÖN), installment services (BirKart, TamKart), and an extensive medical partner network for health insurance fulfillment, including a partnership with the Aloe+ prescription delivery app.
PASHA Insurance generated AZN 143,239,000 in indemnification payments to customers in 2024 and maintains active product launches, promotional campaigns, and partnerships (including a 2026 memorandum with Sea Breeze). The business combines traditional insurance distribution with a digital-first acquisition layer, evidenced by online quote-and-purchase capabilities, the mobile app's doctor appointment booking, and the Customer Cabinet platform.
Pasha Insurance firmographics
Firmographics- Name
- Pasha Insurance
- Legal name
- PASHA Insurance Open Joint Stock Company
- Website
- https://pasha-insurance.az
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- PASHA Insurance is Azerbaijan's leading non-life insurer, offering 36 compulsory and voluntary insurance products across motor, property, travel, and health lines to approximately 700,000 individual and corporate customers through 14 offices and a digital platform.
- Ownership category
- akta.pro rank
Pasha Insurance industry classification
Industry- Product category
- Non-Life Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Travel & Accident (Non-Life) Insurance (FSAJAMAN)
- akta.pro secondary industry
- Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)
Keywords
Where Pasha Insurance is headquartered
LocationHeadquarters
- HQ city
- Baku
- HQ country
- Azerbaijan
- HQ region
- Asia
Offices14 records
Markets served
Pasha Insurance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain, Infrastructure
Revenue model
- Insurance Premiums: Core revenue generated from collecting insurance premiums across motor, property, travel, and health insurance products. Premiums are paid annually or per coverage period and represent the primary revenue stream.
- Corporate Insurance Services: Revenue from providing tailored corporate health and property insurance packages to businesses, with custom coverage options based on company size and needs.
- Additional Coverage Add-ons: Revenue from optional add-ons such as third-party liability coverage, personal accident insurance for drivers/passengers, and extended coverage limits purchased on top of base policies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Full CASCO - Standard tier |
| Subscription | Annual | Full CASCO - PASHA Ladies tier |
| Subscription | Annual | Full CASCO - Premium tier |
| Subscription | Annual | Optimal CASCO - OK 500 |
| Subscription | Annual | Optimal CASCO - OK 900 |
| Subscription | Annual | Optimal CASCO - OK 1900 |
| Subscription | Annual | Optimal CASCO - OK 3000 |
| Subscription | Annual | Parking CASCO - Package 1 |
| Subscription | Annual | Parking CASCO - Package 2 |
| Subscription | Annual | Parking CASCO - Package 3 |
| Subscription | Annual | Yasil Azerbaycan - Cinjar (Baku) |
| Subscription | Annual | Yasil Azerbaycan - Coke (Baku) |
| Subscription | Annual | Yasil Azerbaycan - Zeytun (Baku) |
| Subscription | Annual | Compulsory Home Insurance - Baku |
| Subscription | Annual | Compulsory Home Insurance - Ganja/Sumqayit/Nakhchivan |
| Subscription | Annual | Compulsory Home Insurance - Other cities |
| Subscription | Annual | EVrika Property Insurance |
| Subscription | Annual | Yakhin Gonshu - Package 15 |
| Subscription | Annual | Yakhin Gonshu - Package 25 |
| Subscription | Annual | Household Items Insurance - Package 1 |
| Subscription | Annual | Household Items Insurance - Package 2 |
| Subscription | Annual | Screen Insurance |
| Subscription | Pay-as-you-go | Overseas Travel Insurance - Standard |
| Subscription | Pay-as-you-go | Overseas Travel Insurance - Premium |
| Unit Pricing | Pay-as-you-go | Domestic Travel Insurance - Standard |
| Unit Pricing | Pay-as-you-go | Domestic Travel Insurance - Premium |
| Unit Pricing | Pay-as-you-go | Domestic Travel Insurance - Extreme |
| Subscription | Pay-as-you-go | Student Travel Insurance - Standard |
| Subscription | Pay-as-you-go | Student Travel Insurance - Premium |
| Subscription | Annual | Mektebli Health Insurance - Variant A |
| Subscription | Annual | Mektebli Health Insurance - Variant B |
| Subscription | Annual | Mektebli Health Insurance - Variant C |
| Subscription | Annual | Mektebli Health Insurance - Variant D |
| Subscription | Annual | Alternativ Health Insurance - Basic |
| Subscription | Annual | Alternativ Health Insurance - Classic |
| Subscription | Annual | Alternativ Health Insurance - Silver |
| Subscription | Annual | Alternativ Health Insurance - Gold |
| Subscription | Annual | Medico Health Insurance - Emergency (1-99 employees) |
| Subscription | Annual | Medico Health Insurance - Emergency (100+ employees) |
| Subscription | Annual | Medico Health Insurance - Emergency Plus (1-99 employees) |
| Subscription | Annual | Medico Health Insurance - Emergency Plus (100+ employees) |
| Subscription | Annual | Corporate Health Insurance |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
Pasha Insurance product offering
Product offeringCore offering
Pasha Insurance is a non-life insurance company that underwrites and distributes motor, property, travel, and health insurance products to individuals and corporate clients in Azerbaijan. The portfolio spans 36 compulsory and voluntary insurance products (including Full CASCO, Optimal CASCO, Parking CASCO, Yasil Azerbaycan, Compulsory Home Insurance, Overseas/Domestic/Student Travel, Mektebli, Corporate Health, Medico, and Alternativ), sold and serviced through 14 physical offices, a website, a mobile app, a Customer Cabinet portal, and a 24/7 call center.
Product overview
PASHA Insurance is a non-life insurance company offering 36 types of compulsory and voluntary insurance services to approximately 700,000 individual and corporate customers in Azerbaijan. The product portfolio is organized into four main categories: Motor Insurance (Full CASCO, Optimal CASCO, Parking CASCO, and Compulsory Motor Insurance), Property Insurance (Yasil Azerbaycan, Compulsory Home Insurance, Yakhin Gonshu, EVrika, and Household/Movable Property Insurance), Travel Insurance (Overseas, Domestic, and Student Travel), and Health Insurance (Mektebli for school children, Corporate Health, Medico, and Alternativ for SMEs). The company operates a digital platform including a mobile app and customer cabinet for policy management, online claims, and doctor appointments, supported by a network of partner clinics and pharmacies. Services are available online with installment payment options and 24/7 customer support via *7000 hotline.
Differentiator
Problem solved
Functional benefit
Brands
- Yuvam: Home insurance product
- Aloe+
- Optimal CASCO
- Full CASCO
- Parking CASCO
- Yasil Azerbaycan
- EVrika
- Yakhin Gonshu
- Mektebli
- Medico
- Alternativ
- Yuvam
Products and services
- Full CASCO
- Optimal CASCO
- Parking CASCO
- Compulsory Motor Insurance
- Yasil Azerbaycan Property Insurance
- Compulsory Home Insurance
- Yakhin Gonshu (Nearby Neighbor) Liability Insurance
- EVrika Property Insurance
- Household Items Insurance
- Screen Insurance
- Movable Property Insurance
- Overseas Travel Insurance
- Domestic Travel Insurance
- Student Travel Insurance
- Mektebli Health Insurance
- Corporate Health Insurance
- Medico Corporate Health Insurance
- Alternativ Health Insurance
Quantifiable outcome
- 700,000 customers served with 36 types of insurance services
- +2 more outcomes
Companies that use Pasha Insurance
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
Pasha Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature5 records
Pasha Insurance partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- Sea BreezeminorMemorandum of understanding signed between PASHA Insurance and Sea Breeze for potential future collaboration.
- Angel Investor SchoolminorSupport for startup ecosystem development through participation in Angel Investor School initiative.
- Aloe+corePartnership with Aloe+ app allowing PASHA Insurance customers to upload prescriptions and receive free medicine delivery. Integration provides added value to health insurance customers with convenient pharmacy services.
- YuvamminorPartnership linking to Yuvam home insurance product, providing cross-promotion of property insurance services.
- Partner Medical InstitutionscoreExtensive network of partner clinics, dental clinics, pharmacies, and optics providing medical services to insured customers. Includes Zeytun, Buta, Aloe, Darçın, Kanon, Dokta, Vita, Zəfəran, and many other pharmacy chains across Azerbaijan.
- Hesab.azminorPayment platform integration for processing insurance premium payments through Hesab.az.
- MilliÖNminorPayment service integration with MilliÖN for insurance premium collection, including unique code functionality.
- PASHA Holding LLCcoreParent company PASHA Holding LLC and its subsidiaries act as data processors and technical consultants, providing operational support and governance oversight.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Pasha Insurance competitors and assessment
Company assessmentBroad incumbents
- Zurich Insurance Group: Global multi-line insurer with major general insurance operations serving personal and commercial customers. Comparable to Pasha in core P&C products (motor, property, travel) but with global scale and broader portfolio.
- Liberty Mutual Insurance: US-headquartered global property and casualty insurer offering personal and commercial lines. Comparable to Pasha in P&C product categories (motor, property, specialty) but with international scale and broader enterprise capabilities.
- Allianz: Global insurance and asset management leader with extensive P&C operations worldwide. Comparable to Pasha as a multi-line non-life insurer offering motor, property, and health products, though operating at vastly larger scale across global markets.
Direct peers
- Buta Sigorta: Azerbaijani non-life insurance carrier offering similar motor, property, and personal insurance products. Operates in the same regulatory framework and customer base as Pasha Insurance, making it a directly comparable peer.
- AzSigorta: One of Azerbaijan's established non-life insurance carriers offering similar compulsory and voluntary motor, property, and health insurance products to individuals and corporates, competing head-to-head with Pasha for market share.
- Ipek Yolu Sigorta: Azerbaijani insurance carrier offering non-life insurance products including motor and property coverage. Directly comparable to Pasha Insurance as a domestic competitor in the same Azerbaijani market.
- Ateshgah Insurance: Azerbaijani non-life insurance carrier offering motor, property, travel, and corporate insurance products, directly competing with Pasha Insurance in the same domestic market with overlapping distribution and customer segments.
- AXA Azerbaijan: Global insurance brand operating in Azerbaijan offering non-life products to individuals and corporates. Directly competes with Pasha while bringing international underwriting practices and brand recognition to the local market.
- Mega Insurance: Azerbaijani insurance company providing motor, property, and corporate insurance products. Comparable in size and product breadth to Pasha, operating in the same regulatory environment and customer segments.
Regional players
- Aldagi Insurance: Leading Georgian insurance company offering motor, property, and health insurance products. Comparable to Pasha as a non-life market leader in a neighboring Caucasus country with similar regulatory and economic dynamics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Pasha Insurance social profiles
Digital presencePasha Insurance compliance and trust
Trust signalCompliance4 records
Pasha Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pasha Insurance leadership team
Management profileNumber of profiles
Profiles2 records
Pasha Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pasha Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pasha Insurance
What does Pasha Insurance do?
Pasha Insurance is a non-life insurance company that underwrites and distributes motor, property, travel, and health insurance products to individuals and corporate clients in Azerbaijan. The portfolio spans 36 compulsory and voluntary insurance products (including Full CASCO, Optimal CASCO, Parking CASCO, Yasil Azerbaycan, Compulsory Home Insurance, Overseas/Domestic/Student Travel, Mektebli, Corporate Health, Medico, and Alternativ), sold and serviced through 14 physical offices, a website, a mobile app, a Customer Cabinet portal, and a 24/7 call center.
Is Pasha Insurance a public or private company?
Pasha Insurance is a public company. It is classified as corporate owned and is currently operating.
When was Pasha Insurance founded?
Pasha Insurance was founded in 2006. It employs 251 to 500 people.
Where is Pasha Insurance based?
Pasha Insurance is headquartered in Baku, Azerbaijan, in the Asia region.
How does Pasha Insurance make money?
Three revenue lines are on record. Insurance Premiums are the primary driver. The others are corporate Insurance Services and additional Coverage Add-ons.
Who are Pasha Insurance's main competitors?
Broad incumbents on record are Zurich Insurance Group, Liberty Mutual Insurance and Allianz. Direct peers are Buta Sigorta, AzSigorta, Ipek Yolu Sigorta, Ateshgah Insurance, AXA Azerbaijan and Mega Insurance. Aldagi Insurance is listed as a regional player.
Does Pasha Insurance have an API?
No public API is recorded for Pasha Insurance.
What industry is Pasha Insurance in?
Pasha Insurance's product category is Non-Life Insurance. Its primary akta.pro industry code is FSAJAMAN, Travel & Accident (Non-Life) Insurance, with a secondary code of FSAJAMAG, Commercial Package / Business Owners Policies (BOP). Its NAICS code is 524126 and its SIC code is 6331.