29.04.2016 İstanbul
A report on the world applications of insurance agents and their 2023 vision was published. TOBB President M. Rifat Hisarcıklıoğlu likened the relationship between insurance companies and agents to a marriage bond and said, “Insurance companies can’t be happier than agents and agents can’t be happier than companies.” The report emphasizes need for insurance agents to consolidate and switch to a customer focused institutional structure.
By reviewing insurance agents’ world applications, a vision has been
determined for 2023. Among the goals set forth are consolidation and switching
to a customer focused institutional structure.
Prepared for TOBB – Insurance Agents Executive Council (SAİK) by
Deloitte Turkey, the “Insurance Agents World Applications Research and 2023
Vision” report was announced at a press meeting.
We want our insurance agents to cooperate and consolidate. We need
KOSGEB support at this juncture,” said Hisarcıklıoğlu, stating that the report
would draw a roadmap for the insurance sector and insurance agent profession.
Stating that the insurance system is one of the main factors of economic
growth and increased commerce in the modern world, Hisarcıklıoğlu emphasized
the need for a strong insurance system for economic growth. TOBB President M.
Rifat Hisarcıklıoğlu said, “Because economy and trade mean risk. There is no
profit without risk. As the economy grows, as the figures rise, the desire to
take risks decreases. You would invest 10 Liras into anything with a chance of
profit. You wouldn’t be too careful. Now, if that money was 10,000 Liras
instead of 10, you would sit and consider. You wouldn’t take risks easily. That
is where insurance comes in; while others may partner with you for profit, the insurance
system shares your risk, enabling you to do business. Insurance is the
lubricant of the economic gears; without it the machine only lasts a month at
most. The enabler of economy is the insurance sector. The larger we manage to
grow this sector and the more we make it robust, its contributions to the
economy will increase proportionately.”
Pointing out that agents’ share of insurance premiums have dropped to
66% from 70% in 2006, Hisarcıklıoğlu said, “One of the fastest growing
businesses is life insurance. Agents’ share has fallen from 33% to 7%. This
shows that agents are stuck with just traffic and automobile insurance.
If that wasn’t enough, the commission of agents in traffic insurance has
been lowered to 1%.”
- Deputy Undersecretary of the
Treasury Dr. Ahmet Genç
Deputy Undersecretary of the Treasury Dr. Ahmet Genç reviewed the
legislative changes during his speech. Stating that innovation, R&D and
technology are not concepts exclusive to industrial production, Genç stressed
the need for innovation in the insurance sector. Genç said, “We need to talk
more about innovation. Perhaps we should hold competition for new ideas.
R&D shares have increased but results are needed, too. I believe that this
work conducted with the support of TOBB is of the utmost importance.” Genç
thanked those who contributed to the preparation of the report.
-TOBB SAİK Chair Hüseyin Kasap
TOBB - Insurance Agents Executive Council (SAİK) Chair Hüseyin Kasap
focused on consolidation and review during his speech. Stating that there are
mechanisms to review insurance agents all over the world, Kasap said, “We are
not at the point where we want to be in regards to reviewing the actions of
non-agents. We will implement an active review mechanism.”