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

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Presentation on theme: "Istanbul Group IIMC 2011 The International Insurance Mediation Conference 28 – 29 March, 2011 Re/Insurance Intermediation – Under Pressure ? Menekşe Uçaroğlu."— Presentation transcript:

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

2 Istanbul Group Content 1.Presentation of Istanbul Group 2.Turkish Intermediation Situation Agents, Brokers & Banks 3. Re/insurance intermediation – under pressure ?

3 Istanbul Group Content 1.Presentation of Istanbul Group 2.Turkish Intermediation Situation Agents, Brokers & Banks 3. Re/insurance intermediation – under pressure ?

4 Istanbul,2011 Istanbul Group

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

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

7 Content 1.Presentation of Istanbul Group 2.Turkish Intermediation Situation Agents, Brokers & Banks 3. Re/insurance intermediation – under pressure ?

8 Istanbul Group Channels of Tukish Insurance Market

9 Istanbul Group From 2008 to 2010 AgentsBrokersBanks Accident Health Casco Marine General Liability Credit MTPL Misc. Accident

10 Istanbul Group 1. Turkish Market is dominated by Agents 16.000 agents vs 84 brokers 2.Most of the agents are not tied and an agent can become agent of several insurance companies 3.Brokers mainly do corporate business and personal lines are left to agents and banks 4.Commissions decrease, life is more difficult for brokers 5.Brokers increase share in personal lines 6. Brokers have to have larger portfolio to survive

11 Istanbul Group 1. Most of the brokers are large agents who became brokers because of competition 2. Banks as intermediary 3.Quality of service : banks compared to agents & brokers 4. Training is an important issue and Treasury has established Insurance Training Center

12 Istanbul Group Content 1.Presentation of Istanbul Group 2.Turkish Intermediation Situation Agents, Brokers & Banks 3. Re/insurance intermediation – under pressure ?

13 Istanbul Group Re/insurance intermediation - under pressure? 1.Role of an intermediary as a consultant 2.Importance of risk management for Industrial clients 3.Claims management - Insurance Company vs Clients 4.Intermediaries‘ liability for the quality of the mediated insurance services vs the clients' need for low insurance premium 5. Scale Economy - Brokers & Agents have to have larger portfolio to survive

14 Istanbul Group THANK YOU


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