TRIGLAV: Despite increases in population and vehicles, number of claims decreased in Slovenia

5 March 2012 — Vlad BOLDIJAR
TRIGLAV: Despite increases in population and vehicles, number of claims decreased in Slovenia
matjaz_rakovec1In the last years, the volume of GWP on the Slovenian insurance market increased from EUR 50 million in 1992-1993 to over half EUR billion in 2010, said Matjaz RAKOVEC, President of the Management Board, Zavarovalnica TRIGLAV. "For example, on MTPL segment, the number of claims decreased from 65,000 in 2007 to 60,000 in 2010. According to RAKOVEC, the "changes in the motor legislation for a safer traffic, the development of road infrastructure, and safer motor vehicles" have contributed to this situation.

In his opinion, motor insurance is characterized in the Central and Eastern Europe by unfair competition between the market players, by frauds, high acquisitions costs and insignificant role of supervisory agencies".

At the same time, the main trend and challenges for CEE insurance markets will consist of "internet sales development, liberalization of MTPL markets in many countries, decreasing the acquisition costs and the increased activities of supervisory agencies".

3488 views