Sunday, 13 December 2015 22:25
Loss in Motor Third Party Liability Insurance Continue
Insurers has paid 39% of total claim payments to bodily injury claims which is creating 3% of total number of motor third party liability insurance claim files and again generated 567 million loss as of 2014 Q3. The premium increase in non-life insurance since 2010 has reached TRY 21 billion with an average increase of 13% per year as of October 2014. Despite of the increase in the previous years, in parallel with the weak economy, the premium production in…
Saturday, 12 December 2015 22:25
Turning Young Population into Advantage
According to 2013 International Monetary Fund data, Turkey is the 17th largest economy of the world. Based on the expectations, it will rise to 16th place in 2018. In 2023, Turkish Government aims to place Turkey among the largest 10 economies of the World and increase the gross national product per capita to USD 25 thousand. The national income per capita which was USD 3,492.- in 2002, has reached USD 10 thousand in 2008 -when the global economic crisis was…
Saturday, 28 November 2015 22:25
Solution Is Evaluating Damage Amount Properly
Insurance companies are the biggest and most important customers of authorized workshops since 70% of income is generated by collided vehicle repairs. Thus, auto dealers pursue two main strategies to attract damaged vehicles to their workshops: )Sell insurance policy along with the brand new vehicle, be one of the preferred contractual workshop of several insurance companies, generate revenue out of spare parts and labor when damaged vehicle comes in to the workshop. )Keep customers loyal during warranty period by setting…
Saturday, 22 November 2014 22:25
To Survive or Create New Product. That is the Question!
Due to the easy copying of the innovative works, the insurers cannot create sustainable differences with limited innovation and focus on “survival” strategy rather than new product. 2013 became a difficult year for the insurance companies in the emerging countries again. The requests received from the developed economies were again limited. Additionally, the declaration of the FED regarding the decrease of asset purchase in order to normalize the financial markets has caused decrease in value of the developing countries’ assets.…
