Insurance Support for a Sustainable Ecosystem
Anadolu Sigorta Deputy CEO Ali Kaplan said new models of environment-friendly hybrid or 100% electric vehicles being launched prove that they will remain on the agenda in the future. “As Anadolu Sigorta, we introduced Electric Vehicle Insurance in the context of our forward-looking face, our understanding of environmental protection and perspective on sustainability,” Kaplan said.
107,000 new participants to BES
The introduction of under-18 to the system and a 30 percent state contribution gave a boost to the BES which had entered a phase of stagnation after automatic enrolment was launched and had begun to shrink in terms of the number of participants due to more people retiring. After a standstill since 2017, the number of participants increased by 77,000 from January 19 to February 28. The increase was 107,000 in the first two months. Annual growth was last seen in 2017 in voluntary PPS, with the number of people participating, in the system rising 300,000 to 6.925 million.
Managing personalized customer needs with 100,000 feedbacks
“Expectations are quite different from one customer to another,” Sanem Çıngay, Private and Technical COO at AXA Sigorta, said. “Therefore, they now prefer personalized products and services. For this very reason, we set up a structure to listen to our customers and get regular feedbacks from them to meet their needs and expectations. We collect 100,000 feedbacks a year from more than 30 points of connection, as a leading feature which enables us to make a difference.”
Orhun Emre Çelik: Social Inflation
A study titled Social Inflation and Loss Development by Jim Lynch and Dave Moore was published by the Casualty Actuarial Society, an actuary organization in the US and the Insurance Information Institute. Correctly identifying the reasons behind increases in claims and quantifying them through the use of concepts like social inflation are important in terms of the companies’ reserves as well as pricing. Lynch and Moore calculated the impact of social inflation solely on the auto liability branch at $19.8 billion for the US. What is the estimated burden of social inflation on the industry in Turkey?
Directive on IRSA practices published
A directive concerning the Insurance and Private Pension Regulation and Supervision Agency (IRSA) took affect after being published in the Official Gazette on March 9, 2022, setting the rules and procedures for its operations.
TUSED celebrates 87th year
The Turkish Society Of Loss Adjusters (TUSED), one of the oldest establishments in the country’s insurance industry, celebrates its 87th anniversary this year. TUSED which operated as the authorized professional society for 72 years until the Insurance Law numbered 5684 took effect, carried out significant work in developing the profession, securing discipline and training new experts in the field.
UND and TMTB rally to promote green card insurance
International Transporters Association (UND) and Turkish Motor Insurers’ Bureau (MIB) signed a cooperation agreement to increase awareness about green card insurance, prevent traffic accidents to ensure the safety of lives and property, stop fraud in green cards and encourage membership of non-member countries in the Green Card System.
Moody’s: Insurers may face knock-on effects of the war
Moody’s said the insurance industry will be faced with indirect effects of the war which include market instability and high energy prices, despite not being directly affected by the crisis in Ukraine.
