Bogdan ANDRIESCU: A combined ratio of 127% is not acceptable for companies
"Tarrifs for motor insurance were maintained at relatively low levels, evidence of the competition and of the fact that insurers have aimed another increase of the market share. But now, things are different, as companies are profit-oriented, under the pressure of shareholders", said Bogdan ANDRIESCU, President of UNISCAR, at CNA 2010.
Of course, clients will not enjoy if prices are higher, but things must change at this level, and companies have to increase prices to match the risks assumed, as a combined ratio of 127% is not acceptable for companies, according to the President of UNSICAR.
"The share of motor insurance is still the biggest in the volume of business, but this situation is not found only in Romania. From our point of view, the most important thing is for this business to give satisfaction to the customer. So, we have to do an X-ray of the market realities and to set a clear strategy, because although efforts are being made, many companies still don't have sufficient resources for providing services that would satisfy the customers", added Bodgan ANDRIESCU.
Author: Oleg DORONCEANU
on 04.03.2010
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