2012 is over. To what extent have your forecasts come true in what concerns the insurance market?
Last year’s forecasts have come true for the most part. Unfortunately, they were not quite optimistic in what concerns both the market’s growth and the evolution of the insurers’ profitability. It’s known that 2012 did not experience a spectacular growth in the volume of gross subscribed bonuses. Unfortunately, the market continued to focus mostly on auto insurances that still hold a very large share, at the obvious expense of the relatively low share held by non-auto insurances. Theoretically, these could have brought profit to insurers. In what concerns life insurances, they registered a relatively moderate growth. We are glad the market did not decrease in what concerns life insurances but, in our opinion, this insurance type’s degree of penetration should grown increasingly, being a EU member state.
What are the results ASIROM stakes on in 2013?
In what concerns 2013, we plan to remain profitable both in the life insurances domain and in the general insurances domain. We will particularly focus on non-auto insurances and on rendering the auto insurance segment more efficient, especially the segment of mandatory responsibility insurances. For life insurances, we will continue the programme we started in 2012 on promoting modern products that would address our clients’ current needs. If I were to express a general point of view on the market’s outlook in 2013, I said it before and I will continue to say it, the insurance industry cannot fare much better or worse than the national economy is faring and the outlook for the national economy in 2013 is relatively cautious. So that the market will evolve in the ballpark of 3-5 per cent, 5 per cent being a very optimistic figure. It would be very good to manage to stabilize the level of costs, not necessarily in order to achieve profit but especially in order to balance our balance books. As a member company of the VIG Group we too have a very ambitious target, that of improving the services we are offering our clients because it is very well known that in order to win a new client, you use more resources than it takes to keep the clients you already have.
How can ASIROM become the leader of the insurance market once again?
Through competitive strategy, efficient communication and special care for our clients, who, after all, represent our priority and whom we want to support unconditionally beyond figures and sales. That is why we also have a new PR campaign – “Better YES” – through which we invite people to insure everything they can – their house, car, goods, health – so that they and their families can live their lives with as fewer NO’s as possible and as many YES’s as possible.
Last year which was the segment of clients with the highest share in the company’s sales?
This year on what type of clients (retail/corporate) do you plan to focus?As I stated before, ASIROM’s focus from a strategic point of view is on RETAIL. Through retail we understand both physical persons and SMEs. At the same time, ASIROM continues to implement projects dedicated to the corporate market, seeking to diversify and improve the products and services dedicated to both segments. As I pointed out, the company’s medium-term developing strategy is mainly centered on retail, both physical and juridical persons. Equally so, we will show, just as we did in 2012, special care to balancing the portfolio (non-auto – auto/life – non-life) so as to continue to ensure a favorable quality-price ratio for our clients. At the same time, we will continue to have projects on developing the corporate segment, both for general insurances and life insurances.
Which is the most important measure that should be taken in 2013 in order to spur the insurance market?
I don’t believe we can talk about a single measure that could be taken. We are talking about a set of rules and measures that should be instituted. I’m primarily thinking about the deductibility of costs with life insurances, health insurances. Measures that could be taken by the authorities in what concerns traffic discipline, much stricter rules so that we could benefit both from the protection of our clients’ lives and from a drop in damages. The insuree’s behavior always determines the level of risk he brings into traffic if we are to talk about auto insurances. Likewise, in what concerns home insurances too, the more cautious the insuree is the greater the comfort the insurance brings to his personal life will be.