Swiss Re's solutions for the CEE markets' development

Central and Eastern European is the only real growth area we can notice in the whole European insurance market, according to Christian KREUTZER, Market Head ACEE & Transaction Lead NCEE, Swiss Re, in an exclusive interview for www.xprimm.com

Although we are talking about an area with a more traditional framework insurance, where motor lines still count for 60-70% of the revenues, there are a series of exposures that can be addressed, that would lead in transferring and creating new insurance products. One area where I would see that CEE has a significant potential of growth is liability. "We see that economies in Eastern Europe increasingly produce products and services which are sold on a global scale. With this, the liability regimes in terms of product liability, financial liability change and companies offering such products and services need to have proper liability insurance in place", stated Christian KREUTZER,

Another growth solution for the market is developing new types of products, in line with the young generation

"In the retail space for example we have a product live in different markets in Europe, insurance coverage for flight delay, where you can basically, in a very simple way, you lock in your flight number and then you get an automatic coverage if the flight is delayed by more than an hour or two. That's a product that you can easily sell on a mobile device", Christian KREUTZER said.

"We really want to work with our clients as partners in creating risk pools and insurance solutions for new risk pools. All of us should not continuously fight for the same piece of the cake; we should rather look into ways and means how we can increase the cake, this having even more positive future on the insurance and reinsurance business in CEE," Christian KREUTZER underlined.

mihaela.circu@xprimm.com



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