Leader Team Broker, key player on the Romanian insurance market specialized in risk management and distribution of insurance policies, has brokered in 2019 premiums amounting to EUR 5.6 million, an increase by 26% compared to the previous year.
The 2019 development strategy has led to an increase in company revenue of over 22% compared to the previous year, reaching almost EUR 1 million.
”2019 was the year we focused on developing our portfolio, on launching products which are completely new, adapted or anticipating the needs of the Romanian and international markets. The technological revolution which we are experiencing on a global scale, the new regulations that arise from our status as a European county bring about new risk categories which we have to face with products that act as a safety net both for companies as well as natural persons”, explained Răzvan Rusu, Founder of Leader Team Insurance Broker.
In 2019, Leader Team company, which represents in Romania the products of insurance companies on the Lloyd’s market, has added many more insurance policies to its portfolio correlated with the needs identified on the local market, and these products have registered a great performance shortly after their release.
“The cyber risk insurance and professional risk policy designed for IT&C companies, a product dedicated to companies in the IT field, have been extremely appreciated by Romanian Fintech companies with international activity. The products are all the more interesting as they also cover GDPR fines which arise from the exposure of customer data outside the company, a risk which, at least on the local market, requires applied management. Last year, during our health centered event, in partnership with AXA Global Healthcare, we also introduced into our Romanian portfolio the <<Foundation>> product and the <<Doctor in my Pocket>> telemedicine service. The <<virtual doctor>> service is unlimited on our insurance product and is aimed at persons who present medical conditions and wish to speak with a doctor, no matter the place, hour and day. With the aid of this service, we have entered the medical services market with an innovative product, which complements traditional medical services and health insurance products” stated Alexandra Elena Durbacă, CEO of Leader Team Broker.
The performance of the new products is confirmed by the percentage dynamics of the types of policies within the company’s portfolio. Even if standard car insurances – motor vehicle liability and CASCO have maintained a significant percentage within the portfolio of the premiums brokered by the company, health and life insurances have become the third most important top policy, according to categories of insurance, with a percentage of 13.5%. In 2019, one in ten policies came from the property field, while liability policies represented 8%.
In 2020, the representatives of the company state that Leader Team Broker shall focus on building the portfolio and on increasing public awareness concerning the necessity and utility of insurance programs, as well as on the customization of insurance products. In addition, the company insurance program audit and employee benefit audit shall be a priority for Leader Team. The company has released in 2019 the first employee benefit audit for employees which may increase employee retention rate for companies by 20-25% and may help companies save up to 40% of the budget they invest in salary packages. The audit is a complete and complex approach as the project involves lawyers, HR, GDPR, and fiscal specialists.
“The first step that we take at the beginning of our relationship with the customers is an audit on the risks and insurance needs, a dashboard, under which we offer a customized solution of the insurance program. This sort of audit actually represents the optimization of insurance investment. An internal analysis we have performed shows that a customer may save up to 40% of the policy value if he/she chooses to perform an audit before concluding any policy. Over 90% of customers do not choose this solution in Romania”, explained Alexandra Elena Durbacă, CEO of Leader Team Broker.
At the beginning of the year, Răzvan Rusu, the founder of Leader Team Broker, offers Romanian customers, natural and legal persons, three essential pieces of advice for turning an insurance policy into an efficient risk management tool:
- Do not choose a policy by only taking into account its price. Consider also the following key elements: policy coverage versus your needs and the creditworthiness, respectively, the specialization of the companies you are collaborating with;
- Choose a brokerage company which can support you when it comes to damages as well, for all insurance products you own (including liability insurance, cyber risk or health insurance);
- Double the expertise of your company’s specialist with an insurance program audit offered by a specialized company.