Snow falls, claims increase

30 January 2014 —
A wave of cold weather and snowstorms has hit parts of Central and Eastern Europe, disrupting the power supply, transportation and school activity, causing traffic jams and spectacular chain accidents. A large part of Romania and Bulgaria were severely hit by winter storms, while snow fell also in the center of the Adriatic region of Croatia - highly unusual considering its Mediterranean climate - and neighboring Montenegro, causing traffic problems. While drivers are hoping the snow will stop falling, insurers are uneasy looking at the motor claims figures.

Worrying about the financial effects of the storm may be considered cynical, but a quick glance at the non-life insurer's financial balances will immediately show that this is a perfectly justified approach: over 62% of the non-life claims paid by the CEE insurers are generated by the motor insurance classes, an average percentage which in some cases is exceeded by far. In short, motor claims are one of the most challenging issues when it comes to the non-life insurers' profitability.

Thus, the forthcoming edition of the International Insurance Forum, which will be held on April 6 - 7, in Istanbul, will once again provide the perfect opportunity to analyze and identify the best options for increasing profitability in motor insurance, including the claims control.

Mariusz WICHTOWSKI the President of the Council of Bureaux will give a keynote speech on the current status and main issues on the Green Card insurers' agenda. Tomasz PIEKARSKI, Director PZU, will share the most important CEE insurer's experience with regard to the motor insurance profitability. Representatives of the Russian Association of Motor Insurers will provide a comprehensive review of the most important issues affecting the Russian motor insurance market, while other representative speakers will talk about the solutions offered by the modern technology for improving services and processes' control, as well as about tariff's calibration in MTPL or the future legislative changes in the young MTPL markets.

Don't miss the opportunity to catch up with the most relevant developments in the motor insurance markets of the Central and Eastern Europe and the ex-Soviet space.

See you in Istanbul,

Daniela GHETU

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