IIFC Day 2: Lessons learned from the Kahramanmarash earthquale may shape the future of Nat Cat insurance in Türkiye

15 November 2023 — XPRIMM Teams

The second day of the International Insurance Fair and Congress in Antalya hosted several panels of discussions. Panelists discussed the role of insurance intermediaries and technology in the overall development of the market. Disaster insurance and the role of urbanization in facing the impact of climate change made another line of debates. The second day also hosted a panel dedicated to insurance markets in the Eurasian region.

The day began with a panel titled "The Role of Intermediaries in the Future," emphasizing the significance of agents and brokers in the industry and underscoring that a future without intermediaries is not plausible. Moderated by the Undersecretary of the Ministry of Treasury and Finance, Ahmet GENÇ, the panel featured speakers including Adnan ÇELIK, President of TÜSAF; Ferhan ÖZAY, President of SBD; Mehmet Turgay ÖZATA, Deputy General Manager of Türkiye Sigorta; Ergin KILIÇ, Group President of SEDDK; and Nevzat YAVUZ, Sector Council President of TOBB.

The Insurtech Digital Panel brought into discussion not only the necessity and benefits of digitalization in insurance, but also some of the most frequently encountered fears about embracing the technological “revolution” in course. Moderated by Fatih ACER, Insurtech Chairman of the Board, the panel gathered reputed speakers representing both the insurance and the technology fields: Yılmaz SOLIŞIK, CEO of Dijital Zoomin; Fatih GÖREN, Deputy General Manager, ANADLOU; Birol GÜLEÇ, INSURTECH HUB Coordinator and Uğur SAĞIN, Founder, Sigortex Sigorta.

A panel titled "The Role of Urban Transformation in Disaster Management", moderated by SEDDK Vice President Mehmet VERIM, hosted top TSB representatives Ahmet YAŞAR, Vice President and Atilla Oksay, Deputy General Manager, as well as KENTHAŞ General Manager Özcan BIÇER and Assoc. Prof. from Marmara University Dr. Özgür AKPINAR. They shared their views on the way urban transformation should consider all issues related to disaster management and mitigation.

The ending point on the conference day was the Türk Reasurans special session. Selva EREN, General Manager, Türk Reasürans, Ali Sertaç CANAL, Deputy General Manager, Türk Reasürans, Erdal TURGUT, Deputy General Manager, Türk Reasürans and TCIP Coordinator and Hüsnü Erdem KARABOSTAN, General Manager, T-Rupt have presented the company’s activity and future plans, the advanced modeling capacity that was developed for the earthquake risk, as well as relevant information on the TCIP activity after the Kahramanmarash earthquale that hit Türkiye in February 2023 and the lessons learned from this catastrophic event of unprecedented size.

The panel dedicated to the Eurasian markets was moderated by Özgür OBALI, General Secretary, TSB. Among the contributing panelist were top representatives of the Central Bank of Azerbaijan: Elmar MIRSALAYEV, General Manager and Ziya ALIYEV, Chief Director. Raif ÇUKUROVA, President and İbrahim KAVÇIN, General Manager of the TRNC Insurance Association also have participated in the panel, along with Sharshenaliev Bakyt ARSTANBEKOVICH, Kyrgyz Insurance Association. The speakers have presented the development of their markets throughout the last years and have also talked about the challenges and general trends in the region.