BCR Asigurari de Viata, leader in bancassurance
The Romanian market has a great potential for the development of bancassurance activity, in the oppinion of the President of BCR Asigurari de Viata, Florina VIZINTEANU. Moreover, the business model based on life insurance distribution through the bancassurance system of BCR Asigurari de Viata, implemented by ERSTE, is one of the few of this type with notable success in Romania, although these partnerships are also in progress in other profile companies.
In fact, 2009's results of BCR Asigurari de Viata, which is the only profile company that registered a positive evolution in the period January-September of 2009, were due to the stake of retail and bancassurance business.
"BCR Asigurari de Viata is the leader in bancassurance. This is a sales channel that is in the center of our development, built in a sustainable and healthy manner and that we want to continue developing. All this time, we built all that the bancassurance activity means - processes, operations, products, training", said Florina VIZINTEANU.
In terms of portfolio diversification of the products sold by BCR Asigurari de Viata through the BCR network, the company's President explains: "If, two - three years ago, bancassurance meant only bank loan related insurance, in 2008 we launched the first individual unit-linked insurance, that is life insurance with investment programs attached, which we also sell through the BCR network, because it "fits" very well the banking customers. Previously, we had launched the voluntary private pensions fund, which, in the same way, is also sold through the BCR network."
But not only the very good results registered by the bancassurance channel have contributed to the performances of the insurer, but also the launch of products with very high demand, such as the index-linked product BCR GARANT, limited edition, and also the increase of underwritings on the unit-linked and traditional insurance classes.
"In 2010, we will continue to focus mainly on bancassurance and on retail - winning new customers and retaining them. We aim to further increase the turnover, with a pace superior to that of the market, as well as to increase the market share", said the President of BCR Asigurari de Viata.
Author: Andreea IONETE
on 18.12.2009
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