The trend of the brokerage market must be reviewed based on qualitative indicators, not only on the growth we have experienced so far

21 May 2012 — Mihai CRACEA
prezidiu_brokeri"I am not happy with the way things work, although the numbers indicate a higher mediation rate. We should not forget that we all live on this market and I am talking about insurance companies, brokers, supervisory bodies and media. So the time has come to try and see the big picture. But if we really want, we can solve all these issues", underlined Bogdan ANDRIESCU, President of UNSICAR.

Some of the problems highlighted by the president of UNSICAR are the fact that some insurance companies do not pay the claims in due time and fail to meet their obligations towards customers. This can be a direct consequence of the low rates on the market.

Valentin TUCA, General Manager, AON Romania, also mentioned the issue of pricing policies on the market. "The insurance market has experienced many changes and developments. However, we need to specify that the transaction component is prevailing. I dare say there is no longer an insurance broker selection process, but only a selection of the insurance solution provided by them. Which considers only one element: the price", stated Valentin TUCA.

The manager of AON Romania pointed out the seemingly reduced role of insurance brokers and the lack of the selection process in terms of their services. "This can only impact us and have direct consequences on recognizing the quality and importance of our services in the future, despite the positive trend of the brokerage market. The insurance market is suffering and cannot support the current rates. We should avoid the trap of interpreting the market trends based exclusively on quantitative indicators. We need to understand the basis of the growth", stated Valentin TUCA.

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