For insurance brokers and agencies the most valuable capital is their customer’s data. So they have to protect data for the risks of , theft, sabotage, breaching and loses Due to their business, insurance intermediaries have to collect, use, keep and share various kind of personal and private personal data. Therefore, they have to properly […]
An insurance intermediary’s most valuable asset is customer data. So the agents and brokers have to be very careful about data processing and protection. Why is data security very important? To keep the sustainability and profit of the business To keep the reputation through customers / stakeholders and to prevent the possible data losing or […]
Source; TSB According to end of August between 2017 and 2021 non-life total premium growth was 104.8%. Other, Direct and Brokers distribution channels succeeded to rise more than the total growth. Total written premiums per distribution channels; NON-LIFE PREMIUM END OF AUGUST* Direct Agency Bank Broker Other Total 2021 4.254.085 29.544.626 7.464.678 […]
Between 2017 and 2019 agencies/brokers performed well and grew 42.5% by premiums. In the same period, operating costs raised just 26.8%. x 1000 2017 2018 2019 PRODUCTION* 30.883.969 36.353.635 44.024.284 ANNUAL TOTAL COST* 2.544.903 3.494.919 3.227.749 Cost of per 100 TL premium. 8,24 9,61 7,33 AGENCIES+BROKERS TUIK-TSB In Spite of the rising costs […]
Before to start, all preparations have been completed (targets, plans, expectations, new business structure, etc.) then the final phase can begin. Foremost, a proper website should be set up by a professional in order to provide some services for current customers, to find new customers and strengthen the image of the agency. 2 significant features […]
If an agency is growing, programs in use are sufficient and satisfies the clients expectations , why would he change his current system? Why would he bother with additional costs and renewing system distress? Who have plans for next 5 years or more it is inevitable to make digitalization. Digitalization is not only process that […]
Recent years rising trend digitalization, changes the structures of businesses in all sectors and ensures a great contribution to reduce the costs and set up more efficient systems. The pandemic also has fostered this process even more. Most of the insurance companies perpetually improve and develop their software and hardware structures. They allocate big budgets […]
SOURCE: TSB. In April 2020, when the Covid 19 pandemic was felt intense, brokers and direct+other channel productions increased while the sales of agencies and banks decreased in comparison to April 2019. Total production rises 10.6% in this month Total production branch based changes in April 2020 BRANCH APRIL 2020* APRIL 2019* CHANGE CMTPL […]
The cost of 10,000 TRY premium production to intermediaries seems to decreased 17.3% between 2014 and 2018, but the cost rising have been prominently felt since 2016. Let’s continue to examine the changes of the costs, premiums and number of employees in agencies and brokers. TÜİK Agencies + brokers There was a big decline in […]
*Agencies + brokers Source: TUIK TURKISH INSURANCE INTERMEDIARIES NUMBER OF EMPLOYEES ARE DECREASING BUT TOTAL COSTS ARE RISING – 1 All commercial enterprises have to closely monitor their costs in order to maintain their profitability and compete effectively. Recent years insurance intermediaries are struggling with tougher competition and harder market conditions and also trying to […]
INSURANCE BROKERS & AGENCIES HOW DO THEY CARE ABOUT DATA PROTECTION?8 December 2022 - 16:34IMPORTANCE OF DATA SECURITY FOR INSURANCE AGENCIES AND BROKERS (1)24 June 2022 - 16:25
AT THE END OF AUGUST 2021 TOTAL WRITTEN PREMIUMS INCREASED BY 104.8% AS OF AUGUST 2017, BUT AGENCIES GROWTH WAS 78.2% IN THE SAME PERIOD.5 October 2021 - 15:03