How is the insurance crisis seen... from another corner of the world?
 The financial crisis continues to be fully felt on the Romanian insurance market, this having the power to capture our full attention at the present time. However, it is important to realize that we cannot identify the best development directions without looking at the big picture and without seeing how other world countries have faced and "treated" the crisis. From Shashi GOKARN, President of a well-known insurance and reinsurance brokerage company, INTERLINK, we have found out how the crisis in insurance and reinsurance is seen in India.
"As we see things, insurance and reinsurance companies have encountered difficulties lately, but they managed to keep themselves afloat and to move forward. Everybody cooperated and had to be content with insignificant increases, their efforts being rewarded only by the possibility of hope for a better future", said, for XPRIMM Newsletters, Shashi GOKARN.
"The role of brokers has not changed very much, but their task became more difficult. They must maintain the clients' interest in insurance products in these difficult times, when dark thoughts and wanting to save money is leading the customers in another direction. Same complicated role play the brokers in the relationship between insurers and reinsurers, making every effort to establish the best terms in the collaboration between these two sides", added the President of INTERLINK.
Regarding the arguments that insurers should use in order to convince customers of the utility of insurance products, Shashi GOKARN believes all the problems caused by the crisis are some very good examples themselves.
"Insurers must offer maximum protection to the insured during these difficult times, when every unfortunate situation can lead to serious claims. In times of crisis, a good relationship between the company and its customers can provide the premises for the company to move forward and prosper".
You can meet with the representatives of INTERLINK during FIAR - the International Insurance - Reinsurance Forum 2010, as the company supports the event as Main Partner.
To register in FIAR 2010, or only in certain conferences you are particularly interested in, click here!
Author: Oana RADU
on 30.04.2010
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