How can we comment on June 2011 (H1) results of Turkish Insurance Sector?

June 2011 results has been declared by Association of Turkish Insurance and Reinsurance Companies (TSRSB).

It shows some indications about the trend of Turkish Insurance Sector.

Total (Life and GI) GWP reached to 8.912.645.849 TL, showing 24.45% growth. When it is compared with existing inflation rate (btw 6%-8%) there is steadily reel growth.

-Even though 2010 H1, Life GWP/Total Market (Life&GI) GWP was 15.58%, in 2011 H1 that rate increased to 17.31%. Because of 39.54% growth of the Life Companies GWP.

-Market Leader’s market share of GI Companies increased from 12.09% to 12.75%.

-Market Leader’s market share of Life Companies increased from 28.29% to 36.26%.

Second 10 companies’ growth is higher than the first 10 companies’ growth in GI business, it may be monitored just opposite for Life Companies.

-When we look at the LoB distribution of GI business:

Two main lines of Turkish GI markets, Fire (property)&Marine lines share are shrinking; while Engineering line called General Losses share is increasing from 8.91% to 11.27%.

-That is interesting to see that within the same market, MTPL GWP growth realized 14.68%, while Motor Own Damage GWP growth realized 23.53%

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There’s such a large universe waiting to be discovered?

Do you ever think at all? Given how small the planet called Earth seen from Space?

Did you ever think? How much can be important, our daily difficulties, challenges, happiness in the whole Universe?

Deviation of 1 degree around the rotation axis of the Earth generate heating and cooling can change how our daily lives?

I think from time to time.

Despite boom on technology in flowing history we think, there is such a big universe that is not known, seen.

When we look at history, there are many significant events that changes the flow.

The French Revolution, the Industrial Revolution, such as two World War.

It seems to me that we live again a Revolution; Social Media Revolution.

For some time, with the Globalization impact in all part of the world, eating and drinking, dressing, living habits had begun to resemble to each other.

Shortly after and perhaps continuation of and complement to Globalization, social media all over the world through the people in contact with other people began to become intense.

In example: How many people in your network from various nationalities through Your LinkedIn, Facebook, +1, Twitter and so on.

Under French Revolution, nationalist movements spread. Under Industrial Revolution, agriculture-industry and rural-urban migration had been happened.

Would it be the case that with existing Social Media Revolution World citizens may meet under other common denominators?

Are we possibly gathering under a new society, geographical structure, political structure?

What about then?

My desire and expectation;

SUCH a large universe that is not being known, seen, not discovered yet by the humanity.

CEO of Life

Actually, what capital providers expects from upper management is for them to make a decision. On paper while this seems rather simple to make a decision, especially the right one, is very difficult.

This is because every decision comes with a “price tag”. Altough these costs, when looked at company level, may seem unimportant, there are some decisions that could lead the company to bankruptcy and could lead to such high costs, that the company would have to terminate it’s activities.That said some decisions could be so beneficial as to spike company earnings.

A manager’s, a company CEO’s, success is measured by the number of accurate decisions and earnings versus the number of wrong decisions. It is for this reason that capital providers, who do not want to put themselves or their companys at risk, will prefer CEOs who have proven themselves in past decision making.This is what we call experience..

Capital providers are ready to pay quite high prices and share profit, especially, with the experienced managers or managers who make accurate decisions.

Close your eyes and imagine how many crossroads that we have come to untill today ?

We are where we are today based on all of our past decisions.The school we have gone to, friends we have chosen, our jobs, our spouses, neighbourhood where we live etc. Aren’t all of these an outcome of the decisions we have made ?

Don’t we try to protect our children from the wrong decisions, we made at the past.
For example, we tell them; be a doctor, never be a soldier, choose a certain spouse etc…

All of the above are based on what experience,do you think ?

Did we make the right decisions? What would have happened if we had taken the road not taken? Would we have been more successfull, happier, heathier, more prosperous ?

Why do we like to watch and listen to successfull,happy and healthy people? Do you ever think if I had made such a decision, I would have achieved these aswell.

What do you think? Do you think we should leave, our important life decisions, to the hands of a CEO. If we think of an experienced CEO, should we choose our CEOs from a poll of happy healthy and prosperous people.

Or, will we able to design softwares that would incorporate all of these experiences. A software which we could ask for an advice when we are at one of the life’s crossroads.What do you think? We could already name it “Decisionbook”.

Importance of Direct Communication with Employees

Success or failure of company’s management are affected by more than launching a new vision for the company but bringing that vision into the common vision of all employees.

When a new management team has been created, the investor or board look for a minimum of competence and business experience levels for the candidates.

The management team may carry out this established vision by setting up mission and strategies which embrace all stakeholders. Then they may start to work for realization of it.

The main topic is about ensuring all employees know and deeply understand that vision as it’s. Due to the differences in personal perceptions in the organization, until achievement to last employee in the organization the vision of the company will be under erosion of subjective assessments.

Each employee is the boss of their own business. If nobody informed these bosses about vision, company can be managed in anycase but it will not be reach desired targets.

My recommendation for that is gathering all employees together in the same location, preferably out of city at least once a year. The main part of this meeting would be the CEO meeting which is basicly the presentation of what is the company’s vision and strategic objectives, distirubed by what is to tell the company and its employees.

But I also recommend that, this meeting should be shaped not only pure business but also to seperated on time for entertainment. There is no other more efficient way to make people move towards a truly shared vision in a friendly environement.