STATISTICS:

Interviews

Nikolay GALUSHIN
President
The National Reinsurance Company (NRC), Russia

The Russian Federation has created its own specialized reinsurer - the National Reinsurance Company (NRC), effectively from October 12th, 2016. The main goals of the company are to offer additional capacity for the Russian market (including sanctioned risks) and also to cover Nat Cat perils for consumers. The law stipulates also that local insurers/reinsurers must offer 10% quota of the risks to the NRC.

Levent SONMEZ
Deputy General Manager
ANADOLU Sigorta

Despite all the cliches saying that the "price should not be the first criteria when buying insurance", the price is one of the most determining factors from a customer's pint of view. I think instead of criticizing this behavior, we must accept and internalize this natural fact. All sales channels are steering their customers for the best price.

Zhanat B. KURMANOV
Director of the Department of Insurance Supervision
The National Bank of Kazakhstan

At the beginning of the 2000's, when the insurance industry was not sufficiently capitalized and could not take its own retention large risks, about 60-70% of premiums were ceded for reinsurance abroad. In recent years, the domestic insurance market has grown, and the total premiums ceded to foreign reinsurers fell to 35-30%. Nevertheless, we cannot say that potential of the insurance market is fully involved in the reinsurance business.

Murat KAYACI
Chairman of the Board
DASK - The Turkish Catastrophe Insurance Pool

DASK has developed a target disaster management model for handling both heavy and minor damage cases. The methodology for assessing earthquake damage to a building is developed in collaboration with universities and it is scientifically proven with similar methods. In order to build an infrastructure that enables DASK to manage claims caused by any kind of catastrophic events including severe earthquake, cooperation with expert business partners was engaged.

Samir OMERHODZIC
Director
Insurance Agency of Bosnia and Herzegovina

It is expected that the adoption of the Law on pension and disability insurance in the Federation of Bosnia and Herzegovina which is now in parliamentary procedure and the announced changes to the health insurance system shall lead to the positive changes in the insurance market, to the development of new products and higher share of voluntary insurance premium in the total portfolio.

The Guarantee Fund in Kazakhstan - the mainstay element of insurance industry

The insurance industry in Kazakhstan is one of the key elements of the national financial system. The existence of such compulsory insurance as MTPL and compulsory insurance of third party liability for tour operators and tour agents imposes on insurance industry a greater social responsibility toward society.Due to this fact the insurance market needs more stability, reliability and transparency in order to further the development.

Ekaterina TROFIMOVA
CEO
Analytical Credit Rating Agency

ACRA's methodology fundamentally differs from the ones used by international peers due to the very fact that it is based on the national scale. This is what distinguishes our approach as a more detailed one allowing for fine tuning, with the local market peculiarities being accounted for. The approaches used by international agencies are intended to rate local companies on the international scale and then map international credit ratings to national scale equivalents.

Roland B. WOERNER
Global Head of Anti-Fraud
Zurich Insurance Company

Establishing a robust anti-fraud culture and awareness in the company may prove crucial to improving financial indicators, will argue Roland WORNER, Global Head of Anti-Fraud , Zurich Insurance Company speaking at the Insurance Fraud Forum, to be held in Munich, Germany, on October 20-21. He shared some of his opinions on the topic in the following interview.