Interviews

INTERVIEW: Calin RANGU
Director, Intermediaries Supervision and Monitoring Rules of Conduct Department ASF - Financial Supervisory Authority, Romania

Most important are the proactive consumer protection actions. In this respect, ASF has set up a direction to supervise insurers' business conduct. This directorate develops supervision tools aligned to the risk-based supervision principle. Among these tools we mention thematically supervision, mystery shopping, social media monitoring, receiving and processing of bad conduit public alert information. We also put special emphasis on operational risks' management in insurance companies. These risks are in fact those that affect consumers. Employees behavior, lack of processes or inaccurate processes, internal or external frauds, lack of business continuity, IT and cybercrime problems all relate to operational risks and must be managed preventively to protect consumers.

INTERVIEW: Dr. Savvas TZANIS
CEO, IMPERIAL Claims Services

Our customers are extremely happy with our services compared to their partners in Western Europe because they cannot understand them. It is definitely a matter of culture. With us, they feel that they can speak the same language and that we can understand them. So, our aim in the future will be to remain, invest and expand our activities in our region. We want to be a regional player. We try however to bring and apply in our region the best claims handling practices of the biggest loss adjusting groups in Europe they have.

INTERVIEW: Alexey RUDENKO,
CEO, SBERBANK Life Insurance

We expect an increase of the investment life insurance penetration in Russia due to the new legislation on unit-linked, which will allow us to offer new products without guarantee in the context of falling rates. The source for potential growth is the inclusion of life insurance in the new pension system, where insurers could become operators of voluntary pension savings along with non-government pension funds.


INTERVIEW: Klime POPOSKI:
"In the Balkans, we need a regional center for actuarial education"

"Most of the South Eastern Europe countries lack quality actuarial education. On the other hand, each country has different rules for organizing the educational circles for actuaries. It is mostly a matter of scale: there are not enough persons interested by an actuarial career in each country, meaning that it is not cost effective to organize every year educational programs for the actuarial field. We need to set up some regional center for actuarial education," Klime POPOSKI, President Insurance Supervision Agency, Macedonia stated for XPRIMM in a video interview recorded on the occasion of "IIF 2018 - CEE & SEE - Regional Actuarial Insurance Conference".












INTERVIEW: Andrea KEENAN
Senior Managing Director - Industry Relations, A.M.Best USA
Vice Chair, Microinsurance Network

Microinsurance helps with financial education, family planning, development of small enterprises and maintenance of health, and the products are typically designed to address the specific needs of any given population.  A virtuous cycle develops as this produces income smoothing, larger planning horizons and the development of financial wellbeing.  It is challenging because, to be affordable, scale must be achieved.

INTERVIEW:
Nicola RAUTMANN, Market Executive Austria & CEE, Swiss Re
Christian ENGELN, Market Head Russia & CIS, Swiss Re

We currently expect the immediate impact of digitalization to be on sales, with an increased ability to reach clients and offer cross-selling of products.  Data could be pre-filled, which is likely to increase sales conversions. The full benefits of digitalization however will depend on the extent to which data owners are able to make use of their data, including sharing it with other parties.

INTERVIEW: Oleg HANIN
Chairman of the Board, KOMMESK-OMIR

One of the most discussed subjects in our market, in 2016 was the transfer of the road accident claims settlement activity from the independent evaluators to the insurance companies. Despite the surge in negative expectations, the measure resulted in an effective direct, non-intermediated interaction between insurers and their clients which led to the growing customer satisfaction with regard to the claims payment. In KOMMESK-OMIR case, in 2016, the level of satisfaction with the claims payments reached to 91%, while the quality of the settlement of losses was 90%.

INTERVIEW: Dr. Vahan AVETISYAN
Executive Director of the Armenian MIB

We applied for membership to the Green Card international insurance system in the beginning of 2016 and are currently working in this direction. We have not yet summarized the results of the analysis of Green Card contracts' tariffs, but I do not see any bases for significant change.