SIGNAL IDUNA - Greenfield on the health insurance market
 After the official launch of the company, which will take place at
the end of October this year, SIGNA IDUNA will begin its activity
on the Romanian market by opening five agencies in Bucharest and
in the country, and after that it will gradually expand in other
large cities.
"We make ourselves responsible for educating the population regarding the utility, the meaning, and also the way of functioning of a health insurance", Sinziana MAIOREANU, CEO of SIGNAL IDUNA Romania, said.
In the first phase, the range of products consists of simple policies, with basic risks, that will have prices attractive to the customers; after that, as it goes along, the company will launch more and more complex packages that could include even treatments in partner health centers from outside the borders of Romania.
"The products will be adapted to the requirements of the market and to its realities. It was not possible to launch some products from the portfolio because the medical infrastructure did not allow this to happen", Sinziana MAIOREANU continued.
"Regarding the distribution channels, besides its own sales force, the brokers will have an important role. They are traditional partners of SIGNAL IDUNA outside Romania and they hold the largest share in the distribution of the company's products. At local level, the insurance brokerage companies have reached maturity and this is a perfect opportunity for them to broad their portfolio of products", she continued.
The SIGNAL IDUNA group was founded in 1907 and it is operating in Germany, the country of origin, in Switzerland, in Hungary and in Poland. The company offers a full range of financial services, including insurances, asset management and banking services, reaching a portfolio of ten million customers, out of which two million on health insurance. In 2007, the group's underwritings had reached EUR 4.5 billion.
Author: Mihai CRACEA
on 01.10.2008
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