Daniela BADALUTA, RECREX: The management on the loss adjustment segment of some Romanian insurers generates losses instead of benefits

9 February 2017 — Adina TUDOR
"RECREX operates on one of the insurance market niches: we do not sell insurance, we are a loss adjuster. I believe loss adjusting is one of the most important aspects in this field, because managing claims is a key aspect for achieving success on the insurance market", Daniela BADALUTA, President, RECREX, explained in an interview for XPRIMM Publications.

Talking about the main mistakes made by Romanian insurers as far as managing claims is concerned, the President of RECREX pointed out that "the management on the loss adjustment segment of some Romanian insurers generates losses instead of benefits. Why? Because, for the most part, companies choose to manage claims and to adjust losses in-house. However, in other countries, where the insurance market is profitable, loss adjusting and claims management are outsourced to specialized firms."

Fortunately, a growing number of Romanian companies, especially those that are owned by international groups, have begun to outsource these activities. "The insurers started to follow the example set by foreign companies. For example, insurers that are part of large international groups realize that they can't become specialized in this field and they outsource it to specialized companies. RECREX offers a loss adjusting service combined with fraud detection in an integrated system that allows us to limit economic losses", Daniela BADALUTA pointed out.

RECREX's representatives will participate, on February 15 in Vienna, Austria, at the International Insurance Forum 2017 - "New challenges for the CEE motor insurance industry", an event which the company supports as Strategic Partner. "During IIF 2017, we will explain our vision for the European insurance market, which is constantly evolving, especially in the light of the new regulation", Daniela BADALUTA affirmed.

More details about International Insurance Forum 2017 - "New challenges for the CEE motor insurance industry" are available here.

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