AXA Life Insurance officially entered the Romanian market last week. One of the company’s goals is becoming one of the top five local insurers in what concerns the new number of customers won. To do that, AXA will introduce on the market a new business model by opening smaller and more flexible agencies throughout the country but also by introducing life insurance products that would offer extra benefits at prices similar to its competitors’ products, HotNews.ro informs.
Violeta Ciurel, CEO & President AXA Life Insurance claims that investments in this expansion plan total in the tens of millions of EUR. “We currently have over 500 insurance consultants but we want to grow fast and maybe even approach the 800 employees figure by the end of this year,” Ciurel explained. Thus, by the end of next month the company will have more than 10 agencies and by the end of the year it plans to operate 35 agencies throughout the country, or even a higher number depending on recruitment possibilities.
“People are starting to understand the need for protection; many have regained jobs and afford to continue paying life insurances. At the same time, let us be realistic because we can’t talk about growth at the level reported in 2008. That will take some time; the important thing is the growth trend. For this year I don’t estimate significant growth for life insurances. I believe a 4-5 per cent growth of the life insurance market will be reasonable, rational and very realistic for this year compared to 2010,” the AXA Life Insurance official added.