Interviews

Petar-Pierre MATEK
President of the Board
HANFA

Overall, we can say that there are signs of recovery on the Croatian insurance market. Premium growth in 1H2017 was 2.7% in total (3.8% in non-life and 0.4% in life insurance) in comparison with the same period last year.

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.

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.

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%.

NATIONAL BANK OF SERBIA
Insurance Supervision Department

There is a lot of catchup potential of the Serbian insurance market, having in mind the level of its development compared the EU average. We can expect to see a continuation of positive premium developments coupled by a healthy increase of technical provisions. This should translate into sufficient capital adequacy and a continuation of positive trends in profitability, provided that cost pressures are kept in check.

Vyacheslav CHERNYAKHOVSKY
Chairman of the Committee
Ukrainian Society of Financial Analysts

There is a tendency to withdraw from insurance business, both on the foreign investors side and on domestic owned companies. In case of the national companies the trend  is more connected with obvious or provoked bankruptcies, while for foreign investors turning off Ukrainian business was caused by the high level of sovereign risk, low rates of economic recovery, insignificant (or even negative) return on capital, etc.