You can purchase your Travel Health Insurance online from www.sigortadukkanim.com which continues to bring innovations to the Turkish Insurance Market since the day of its establishment.

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Travel Health Insurance is an insurance policy that covers the emergency health problems of individuals that might occur during their travels abroad.

The Travel Health Insurance policy provides covers for medical treatments due to injuries or sickness, medical consultancy and organizational support, the return travel of the insured due to medical reasons, transport costs in case of death, and costs of transfwerring emergent messages.

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–       You are travelling abroad but you are concerned about risks regarding your health. Do you need an insurance policy that will cover such risks?

–       Do you need a Travel Health Insurance Policy for your visa application (i.e: for the Shengen visa)?

Your policy is only one click away.

http://www.sigortadukkanim.com/seyahat-saglik-sigortasi

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The innovations will continue to come, keep following us.

 

The results for January 2012 have been announced by the Association.

The Premium Production figures of the Insurance Market have grown by 14.68% in Non-Life and 8.43% in Life Insurance respectively.

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When we look at the fastest growing lines of business;

-In Fidelity Guarantee, there is a growth of 1016%, especially due to the extraordinary growth in the production of a company (Chartis).

-While Marine growth was 37.72%, the General Damages LoB which also contains Engineering shrank by 4.21%.

–The total share of Motor Third Party Liability, Motor Own Damage and Health LoB’s combined increased to 64% in January 2012 from 62% in January 2011.

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The interesting facts about the company rankings are;

Ranking

-Anadolu Sigorta is the market leader with a 30.43% premium growth. The market share increased by 1.57% to 12.96%.

-A company (Mapfre Genel) which was in the second 10, moved to the top 10 at 5th rank, including the effect of transferring its health portfolio to its non-life company which was under the life company in the past.

-A company (Ergo) which was in the top 10 previously moved down to 11.

-Acibadem Saglik ve Hayat, which was at rank 9 with 4.38% market share at the end of January last year, reached a market share of 6.39% and moved up to rank 6 (Note: the market share of the company at the end of 2011 was 1.19%, and the rank was 19).

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Even though January is far too early to reach a general conclusion, it still looks like the ground continues to move in the Insurance Industry.

 

 

 

 

In some of my earlier posts, I mentioned that the Turkish Insurance Market has not yet been distinguished as Market Makers and Market Followers with clear marks, and as a result that all players in the market still had the opportunity and hope to become the market leader.

However, when we look at 2011 results, we see that this is not entirely true anymore, and that the top two (Axa and Anadolu) have started to make their strength visible as market makers.

The total market share of the top two players reached 27.08% in 2011 from 24.60% in 2010. When we look into the details of the business lines, it becomes clearer.

The shares of these two companies especially in motor own damage and motor third party liability, which compose 44.7% of the total market, seems like it is beyond competitiveness.

The comparison of the total market shares of the top two players of 2010 and 2011 are as follows:

                                                              2010                                 2011
MTPL                                                       %30.04                            %37.70
Motor Own Damage                                 %30                                   %33.50
Health                                                     %14.02                              %13.04
Property                                                  %25.71                              %27.17
Casualty                                                  %18.57                              %17.83
Marine                                                     %18.92                             %20.24

The absolute growth of each of these two companies in 2011 (top player’s GWP increase is TL 479.060.475, second player’s GWP increase is TL 505.632.793) is more than the total production of each of the companies in the second top 10.

The Insurance Market has entered a brand new structure and new competitive conditions in 2012.

It looks almost definitive from now on that it is not going to be sufficient to grow organically but it will be a requirement for mergers and acquisitions to catch the top two and all the companies will follow the two leaders more and more in terms of pricing.

In my article dated December 1st, 2011, I forecasted the total end of year non-life insurance GWP to reach TL 14.490.064.103.

The Association of the Insurance and Reinsurance Companies of Turkey has published the results as at 31.12.2011. The end of year non-life GWP has been realized at 14.487.376.423.

The annual growth rate is 21.25%. While the top 10 companies’ growth rate was 23.28%, the growth rate for the top 20 was 22.17%.

The inflation-free real growth rate was 9.78%.

 

I had the opportunity to attend a leadership training program by a business school, together with a group of 40-50 other attendees.

One of the sub sections of the training was a group work to discuss questionnaires previously filled by colleagues of the attendees within groups of 4 persons each.

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During this evaluation conversations, one of the attendees said that:

 – He was transferred to his current company with the reference of one of his managers,

– A conflict soon arose with his supporting manager and another high level manager, which resulted in favor of the latter,

 – And now he was trying to form a new relationship with his new manager,

asked for our recommendations on what he should do.

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My recommendation to this person was:

 – Find yourself a new job as soon as possible and leave that company. Whatever you do, you will never reach the level of success that you believe you have earned in the mind of the new manager,

 – During this process, never say anything against your previous manager in order to look good to the new manager.

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I had a similar experience myself in the past. If your name has started to go together with the name of a particular manager, you may potentially face also negative consequences of this situation in the long term.

Example: If your manager has lost in the conflict within the company and resigned or passed on to another division, you have no chance of making yourself or your success accepted by the new manager, however good or successful you are in reality.

The biggest mistake you can do at such a period you will do is to forget your relationship with the new manager whose power you have benefitted from and expect the new manager to evaluate you in isolation from the previous manager.

In fact, how hard you try to fool yourself, you know deep inside that your new relationship will not work. The best thing to do is to leave that company. As a matter of fact, even if you do not want to leave, your new manager will force you to do so very soon. At least you will own the timing and spare yourself of the shock.

With its launch, sigortadukkanim.com started a new era in the insurance industry.

-First, while becoming the fun and easy to use interface of insurance with its pleasant visuals and colourful communications, it also provided “real online access” to the policies of many insurance companies with a more functional system infrastructure compared to its peers, introduced “online chat” to the insurance industry, and was the first to bring the concept “Your Space” to the market.

-Opened up a new vision to its followers that communications can also be made in a different way by offering 3 different films in viral environment which have been viewed more than 700.000 times so far.

-Created the most suitable platform for the sports fan products of insurance companies to become widely available, enabling the easiest way for insurers and sports fans to meet.

-Has made it possible for many companies to offer TCIP (Turkish Catastophe Insurance Pool) online for the first time.

-Sent warm messages with a brand new approach to radio audiences by converting a folk song that goes “Ben Seçerim Sigorta da, Sigorta Dükkanım’da…”

-Afterwards, by using modern marketing approaches, made a joint campaign with Turkcell, Turkey’s largest mobile operator, offering insurance products to Turkcell’s customers at convenient prices.

sigortadukkanim.com was the first to create an insurance campaign targeted at individuals directly and communicated to millions of customers with the support of the partnering insurance companies.

Additionally, even before the end of the first week of launching the campaign, the figures reached in insurance production created a very serious base for similar campaigns for the future:

After the SMS messages sent by Turkcell to its customers:

– A policy was sold to 35 of every 100 customers wishing to benefit from the campaign.

– The policy maturities of customers have been recorded to be followed up, which will eventually increase this figure to more than 60%.

– Turkcell customers benefitted from this campaign by getting discounts ranging from TL 96 to TL 508.

Although our campaign has just started, it is already being imitated. It is very nice that others are trying to imitate us even though we firmly believe that success in competition will come from constant innovation, and not from following, imitating.

sigortadukkanim.com has started to make people say “good things are happening in the insurance industry” by its innovative moves.

It has become the followed, not the follower, by its innovative approach.

But, just a reminder: we have just started.

Share of Motor Own Damage and Motor TPL premiums is diminishing in the total premium production

I combined the November 2011 motor own damage and motor TPL premiums of non-life insurance companies from the data published by TSRSB (Association of the Insurance and Reinsurance Companies of Turkey).

I made a comparison of the market shares of motor own damage and motor TPL total premiums with the same period of the previous year:

–          While the total premium production of the non-life insurance market increased by 21.49%, motor own damage and motor TPL combined premium grew only by 19.65%.

I also compared the share of motor production of companies in their total premium production with those of the same period of the previous year:

–          The share of the combined premiums of motor own damage and motor TPL production decreased from 47.7% in November 2010 to 46.9% in November 2011.

–          However, the motor own damage and motor TPL productions of the top 4 companies increased twice, even three times more than the market average.

We started www.sigortadukanim.com on April 20, 2011 based on the “growth enthusiasm” in internet business in Turkey, and on the ambition to offer insurance services to retail customers throughout the Country.

On October 13, 2011, our site was live.

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Now that our company is operational for 2.5 months, I think it is a good time to share some of our achievements:

-We are one of only two real on-line insurance brokerage companies in the Turkish Market.

– Until December 29, 2011, our site has been visited 146.454 times. 118.823 unique visitors have surfed our pages 665.544 times.

– Despite being a very young company, the site ranking climbed up to number 2.427 among Turkish internet sites according to Alexa, and continues to increase in the ranks day by day.

– Our daily number of visits has reached 3.000 and is increasing everyday.

– During this period, we have produced 9.464 insurance policy proposals. People are getting used to buying their policies online: our daily on-line sales has reached 15 policies and continues to increase.

– We became one of the most efficient tools to reach football fans for insurance companies in their partnerships with football clubs (Galatasaray, Bursaspor, Trabzonspor, Orduspor, i.e.).

 – Within the first 2.5 months, we started a partnership with Turkcell, Turkey’s leading telecommunications company, to enable its customers under “İşte Kazan Program”, Turkcell’s corporate loyalty program, to purchase insurance policies at favourable discounts.

 – We became the first and only channel in Turkey to offer online purchasing of DASK (Turkish Catastrophe Insurance Pool) policies through 3 insurance companies with the suitable infrastructure.

 – We believe we have brought a new colour to the insurance communications via our fun radio jingles currently on air.

– We provided consumers fast and easy access to 20 insurance companies with the motto “there is no cheap insurance company – there is a cheaper policy for every customer and vehicle”

– We helped improve the insurance awareness of consumers. This is because consumers can compare products and coverages, analyze brands, understand what to do in case of a claim, find the value of their vehicles and have access to many other references through our site with an easy to understand, non-technical language.

– Our ambition grows further for the new year with these results.

We chose ourselves a colourful logo.

We wish our customers and business partners a year as colourful as our logo in 2012.

When we check October 2011 GI Growth figures launched by TSRSB, there is 21.48% growth of the total Turkish GI market.

But when we chance our perspective; absolute growth is almost 2 billion TL. And 39% of that figure have been realized by first two player of the market. And each of their new written business is more than total (existing+new business) GWP of the companies ranking second 10.

Second observation is that, 50% of the absolute new business have been realized by the first 11 companies.

Nowadays Sector’s main topic is profitability but players should also focus on  growth otherwise it will be more and more difficult to catch market leaders with organic growth.

 

 

Turkish Insurance Sector October 2011 results have been launched. GI figures are shown below.

Though competition have been continuing on the top.

Surprize with its growth of last two years in the market  is Ziraat Sigorta A.Ş. that works with T.C. Ziraat Bank as main distrubution channel.

Ziraat Sigorta established 2 years ago, has rated number 11th.

Q3 Turkey’s cumulative GDP growth realized 9.6%. End of October GI market’s GWP growth is 21.48%.