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Istanbul Group

IIMC 2011 The International Insurance Mediation Conference 28 – 29 March, 2011. Re/Insurance Intermediation – Under Pressure ? Menekşe Uçaroğlu İstanbul Group. Istanbul Group. Content Presentation of Istanbul Group Turkish Intermediation Situation Agents , Brokers & Banks

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Istanbul Group

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  1. IIMC 2011 The International Insurance Mediation Conference 28 – 29 March, 2011 Re/Insurance Intermediation – Under Pressure ? Menekşe Uçaroğlu İstanbul Group Istanbul Group

  2. Content Presentation of Istanbul Group TurkishIntermediationSituation Agents, Brokers & Banks 3. Re/insuranceintermediation – underpressure ? Istanbul Group

  3. Content Presentation of Istanbul Group TurkishIntermediationSituation Agents, Brokers & Banks 3. Re/insuranceintermediation – underpressure ? Istanbul Group

  4. Istanbul Group Istanbul ,2011 Istanbul Group

  5. www.iucre.com www.repsconsulting.com www.benefitglobal.com Istanbul Group

  6. Istanbul Group • Dental Health Plan • General Health Plan • Eye & Ear Plan • Drug Plan • Consumer Plan • Psychological • Consultancy Service • Dietician Consultancy • Service • Management Consulting • Actuarial Consulting • Cost Containment • Services for Insurance • Industry • Marine&Aviation Loss • Adjusting Services • International Recovery • Services • Fire & Water Damage, • Restoration Sevices • Special Risks UW • Technical Trainings • Events Organization • International CII Trainings • Ofiice and Facility Support Istanbul Group

  7. Content Presentation of Istanbul Group TurkishIntermediationSituation Agents, Brokers & Banks 3. Re/insuranceintermediation – underpressure ? Istanbul Group

  8. Channels of Tukish Insurance Market Istanbul Group

  9. Istanbul Group

  10. 1. Turkish Market is dominatedbyAgents • 16.000 agents vs 84 brokers • Most of theagentsare not tiedand an agent can becomeagent of severalinsurancecompanies • Brokersmainly do corporatebusinessandpersonallinesarelefttoagentsandbanks • Commissionsdecrease, life is moredifficultforbrokers • Brokersincreaseshare in personallines • 6. Brokershavetohavelargerportfoliotosurvive Istanbul Group

  11. 1. Most of thebrokersarelargeagentswhobecamebrokersbecause of competition • 2. Banks as intermediary • Quality of service : bankscomparedtoagents & brokers • 4. Training is an importantissueandTreasury has establishedInsuranceTrainingCenter Istanbul Group

  12. Content Presentation of Istanbul Group TurkishIntermediationSituation Agents, Brokers & Banks 3. Re/insuranceintermediation – underpressure ? Istanbul Group

  13. Re/insurance intermediation - under pressure? • Role of an intermediary as a consultant • Importance of risk management for Industrial clients • Claims management - Insurance Company vs Clients • Intermediaries‘liability for the quality of the mediatedinsurance services vsthe clients' need forlow insurance premium • 5. ScaleEconomy - Brokers & Agentshavetohavelargerportfoliotosurvive Istanbul Group

  14. THANK YOU Istanbul Group

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