Interviews
Sule SENTURK, Co-Founder and CEO, CoSure Technology
End to End Risk Transfer Platform in Re/Insurance Industry
Based on AI & Blockchain Technologies
Ervin METE, General Executive Director, Albanian Financial Supervision Authority
So far, the insurance market has shown good resilience through several shocks, from the earthquakes to the pandemic. AFSA took a proactive approach in both crises, by increasing the frequency of reporting and supervision, closely monitoring liquidity and solvency ratios to ensure market stability.
Volodimir SHEVCHENKO, MTIBU General Director
I am cautiously optimistic about the MTPL sector's evolution in the future. The reason for optimism is that from the first day of the war the MTIBU and the MTPL insurers did not stop working to ensure that all road users had reliable insurance coverage. We act with faith in victory: we see our task not only in maintaining the availability and continuity of the process of concluding contracts and making MTPL insurance payments in the war conditions, but also in developing the market and services for car owners. Several steps have been made in this direction.
Vyacheslav CHERNYAKHOVSKY, General Director, Insurance Business Association of Ukraine
I have already started consultations both with major Western insurance businesses and international investors and donor organizations. They all understand the need for such a "Marshall Plan" for the industry. However, its concept and mechanisms, including financing, still need to be thoroughly worked out.
Dinara TEZEKBAEVA, Chairman of the Board, INGOSSTRAKH, Kyrgyzstan
Closed Insurance Joint Stock Company "Ingosstrakh" was founded in 1996. For 20 years, Ingosstrakh has been providing quality insurance services and is the leading company in the Kyrgyz Republic. Dinara TEZEKBAEVA, Chairman of the Board, answered some questions about the results of the company's work last year.
Marina SHIPOVALOVA, General Director, InterConsult Info
In general, compared to the pandemic year of 2020, when total GWP increased by only 12%, the past year 2021 had quite good dynamics
Julia KHMELNITSKAJA, Deputy CEO Willis CIS
As in previous years reinsurers are struggling with macroeconomy, including investment environment. Yet, the market further progressed in the period of "THE GREAT UNCERTAINTY"
Michael HAAS, Head Client Management L&H ACEE, Swiss Re - Claudia SZWILLUS, Underwriting Manager L&H CEE, Swiss Re
Swiss Re enhances its services for the Russian L&H insurance market. The reinsurer's clients in the region will benefit from the Group's leading underwriting manual in local language
VIDEO: Interview with Marijan MUMDZIEV, CEO, AMODO
Insurance consumers' preferences are now shaped by the other industries, insurance providers being compared not only to their peers but to whoever sets the benchmark for a great experience in their lives, believed Marijan MUMDZIEV, CEO, AMODO. In the interview given to XPRIMM he talked about the role digital technologies play in enabling insurers to provide their customers the best possible experience.
Mira Kiridzic-Bugler,Market Head ACEE (Austria, Central & Eastern Europe)
Christian Kreutzer, Market Head & Transactions Lead, Northern, Central & Eastern Europe
The insurance protection gap is a worldwide topic. In CEE countries, salary level and missing trust in insurance are additional factors that contribute to a low insurance penetration. Raising public awareness for the value of insurance is an important task that we are working on closely together with our clients. I also expect that the demand for insurance will grow, as we will experience such events more frequently in the future. On the other side, insurance products need to become simpler and easier to understand with short and transparent conditions.
David ONOPRISHVILI, Chairman, Insurance State Supervision Service of Georgia
Irina MERZLIAKOVA, General Director, Belarusian Association of Insurers
Paata LOMADZE, CEO, GPI Holding
Alexandru CIUNCAN, General Director of UNSAR - National Union of Insurance and Reinsurance Companies in Romania.
Financial education can help us all better understand how financial market mechanisms work and be better prepared for the challenges of the present. It is very important that any consumer understands as well as possible how insurance works, and the expectations to be closer to the promise made by the policy.
Julia KHMELNITSKAJA, Deputy CEO Willis CIS
Beginning of 2021 already showed same uncertainity. At the macro level this is as regards economic recovery with some hopes for the brighter future though as vaccination started. 2021 will be core for development and actual reimbursement of COVID-19 related claims.
Oleg KHANIN, Chairman of the Board of the Insurance Company Kommesk-Omir JSC.
The pandemic has prompted digitalization to become a key industry trend in the upcoming years. In addition, the new reality of 2020 has stimulated insurers to create new products in health insurance (coronavirus insurance, telemedicine, critical illness insurance), as well as insurance programs against business interruption, cyber risks, financial losses.
Lukas HERRMANNS, Chief Executive Officer of Marsh Germany and CEE, Marsh
We don't have the duty to sell predefined products or to deliver a certain combined ratio as an expectation from the shareholders. That is why we can specifically tailor THE risk concept which fits the most to our clients' needs. We frequently see our clients' value and require our advice which does not necessarily lead into placing a cover for them but can be an advice on how to minimize the risks of a company.
Emmanuel DJENGUE, Global head of "The Young Global Insurance Network Project"
We must generate an emotional connection between young talent and their workplace. Doing this successfully will make the current workforce promotors.
Elisabeth STADLER, CEO, VIG - Vienna Insurance Group
It is thanks to the broad diversity of the VIG Group and the strong start to 2020 that we were able to record an increase in premiums of 2.4% in the first half of 2020 and a profit before taxes of 200 million euro. Operationally, we currently see ourselves in a position to manage the effects of COVID-19 for the insurance group. [...] We are cautiously optimistic as the forecasts expect a strong recovery of economic activity between Austria and the CEE region in 2021.
INTERVIEW: Michaela KOLLER, Director General, Insurance Europe
It is up to the EU institutions to ensure an appropriate regulatory framework is in place that enables innovation and allows consumers, established companies and new market entrants, such as InsurTechs, to benefit from the opportunities that digitalisation can offer.
2 November 2022