Delays and disruptions in the supply chain not only create additional workload for insurance companies and adjusters, but also erode policyholders' trust in the sector, according to the board of directors of the Turkish Insurance Experts Association (TUSED), Middle East Insurance Review writes.

According to the Association, which has conducted a comprehensive assessment of the critical spare parts procurement processes and the impact on the insurance sector, incidents such as incorrect or delayed parts procurement and stock and price updates, damaged products during shipping, and waiting times exceeding 20 days for parts procured from abroad, are key factors threatening the procurement process.

The TUSED board called for urgent steps to resolve existing problems, emphasizing the need to constantly update parts catalogues, accelerate system integration, ensure suppliers have transparent and robust communication channels, provide real-time pricing and inventory information, monitor logistics processes, and improve delivery standards.

“A regulatory reform process must be initiated urgently, led by the public authorities, with the participation of all stakeholders, to improve procurement processes, ensure order in the sector, and protect policyholder confidence”, said the TUSED board.