Insurer-brokers partnerships, among the winning solutions during crisis
 The financial crisis the world has been facing since the end of 2008 has also had positive effects upon the Romanian insurance market. Out of the need to protect their business, insurers and brokers have found new ways of communication and collaboration, strengthening partnerships to the advantage of both parts.
"Probably only few of us were expecting to register an increase of almost four times of the volume of gross premiums mediated by independent brokers - as we use to call those that do not manage, in particular, a certain bank or leasing portfolio; as a result of this spectacular development, the share of the premiums in the company's portfolio reached 25% and is still growing", said Radu MANOLIU, Deputy General Manager of CREDIT EUROPE Asigurari, a company known in the market for the high importance it gives to brokers cooperation.
"Considering that the number of existing contracts at the end of 2009 was 2.5 times higher than the one in 2008, it is obvious that brokers work more and more with us, which means they appreciate more and more our products and services - issue that represents, in this relationship, the main reason for professional satisfaction", added Radu MANOLIU.
CREDIT EUROPE Asigurari is, this year, too, Main Partner of Brokers Day at FIAR - the International Insurance-Reinsurance Forum 2010.
FIAR 2010 will review and discuss the effects of the crisis on the insurance markets and what are the main directions to counteract them.
"If we relate the volume of gross written premiums, which remained, in RON, at about the same level as in 2008, general insurance even registering a slight increase, it is obvious that insurance companies in Romania have operated efficiently in terms of keeping the market development pace", pointed out Radu MANOLIU.
"However, further steps must be taken to fight the effects of the crisis. Cost -cutting measures will need to be corroborated with a more sustained effort of insurers in terms of customers information and optimisation of the communication - a good opportunity in this respect being the launch of the mandatory household insurance, which will facilitate, theoretically, the communication of profile companies with about 8 million potential customers", added the official of CREDIT EUROPE Asigurari.
We invite you to the FIAR 2010 conferences to analyze, along with leaders and experts in insurance and reinsurance markets worldwide, both the threats and the opportunities that the world economic crisis continues to bring.
Author: Oana RADU
on 05.05.2010
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