Insurance market to grow by 5 pc in 2011, ING forecasts

ING estimates that the life insurance market will grow by up to 5 per cent in Romania, the company seeking to maintain and consolidate its position as market leader, Cornelia Coman, general director ING Life Insurance, stated. At the same time, ING Life Insurance is replacing the old analysis form used by company consultants with a software application meant to hike the analysis level of the clients’ financial needs. The application, dubbed Personal Financial Plan, expands the consultancy process by presenting up-to-date statistics and by calculating the difference between the client’s current financial situation and the one desired. Four basic financial needs are analyzed: the need for financial protection in case of death and invalidity, ensuring the children’s future, ensuring supplementary incomes after retirement and protection in case of medical problems.

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