UNIQA redefines insurance distribution in Romania
UNIQA Asigurari estimates to obtain, by the end of 2012, a volume of underwritings of EUR 20 million, correspondent to a share of 20% -25% of the portfolio, by developing the network of exclusive partners, in which the company will invest EUR 4 million. UNIQAgent, the new sales channel the company launched yesterday, represents an innovative business concept for the local market, allowing employees and experienced insurance intermediaries to develop their own business.
Romania is currently the first among emerging countries where UNIQA will implement this concept, and by the end of this year the company plans to open five locations UNIQAgent. Also, the system could be introduced in the future on the life segment, once UNIQA will launch the life insurance company on the local market, a move scheduled for 2010.
The system is based on an entrepreneurial concept similar to the franchise idea, except that the entrepreneur will not pay entrance fee. Its income consists of both commissions given for underwritings and other bonuses, and bonuses for income, for portfolio growth, but also a private pension type bonus.
The UNIQA Asigurari investment requires logistic, marketing and training support from the company, the insurer covering the costs of promotion, and a part of the costs related to location, support for IT & communications. Therefore, the investment amounted to EUR 20.000 - 25.000/location, the amortization period being estimated at two years, according to Florin CALIN, National Director Exclusive Partners Network UNIQA Asigurari. UNIQA will also ensure training and transfer of know-how to the hired staff of exclusive partners.
"In Romania, we intend to invest in the development of this channel about EUR 4 million, over the next five years. As in Austria, we hope this project will make a significant contribution to the development of entrepreneurship and the development of the middle class, which is much more important now, in the light of the crisis. From our point of view, this is not only related to central and local governments, but also to large private companies that can stimulate development of smaller business", said Alfred VLCEK, Vicepresident of UNIQA Asigurari.
UNIQAgent is modifying the classic employer - employee relationship into a partner - partner relationship type, proposing a "win-win" situation, with benefits for both sides. The new concept was launched in Austria since 1999 and has proven to be a successful one, contributing with 40% to the volume of gross written premiums in 2008, and in 2009 there were 830 such agents activating in 265 locations.
"The cases of success in Austria show that an exclusive UNIQA partner can reach a very important annual turnover and a very good profit", said Florin CALIN.
Thus, besides the opportunity to earn substantial income from their own and stable long-term businesses, with the guarantee of a brand with worldwide recognition, exclusive partners will benefit from autonomy and independence in the development of the portfolio.
Author: Andreea IONETE
on 07.10.2009
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