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Interview of the week

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Iuliana HAMPU, General Manager, RAI Insurance


Travel insurance has actually proven to be a necessity for people who travel outside Romania and this can be seen by the volume of GWP registered by RAI in the first 6 months, which remained the same compared with the similar period of 2008 - RON 5 million (under the circumstances in which the travel market recorded a decline of 20% on the external tourism segment, according to statistics drawn by official representatives of travel agencies).

XPRIMM: The current economic situation has also affected the holiday budgets of the Romanians. Has travel insurance been cut out of the list of expenses or did it remain a priority?
Iuliana HAMPU:
Travel insurance has actually proven to be a necessity for people who travel outside Romania and this can be seen by the volume of GWP registered by RAI in the first 6 months, which remained the same compared with the similar period of 2008 - RON 5 million (under the circumstances in which the travel market recorded a decline of 20% on the external tourism segment, according to statistics drawn by official representatives of travel agencies).

The need for buying such a policy when travelling outside Romania is very clear, taking into account both the costs of medical services, which are very high and often cannot be covered by the budget of those who travel, as well as the extending coverage of the policy for complex risks such as loss/damage of baggage, flight delay, civil liability and other risks which, lately, happen more and more frequently.

XPRIMM: In early summer, you were estimating that the summer vacation will increase the number of policies electronically contracted by tourists, reaching up to 60% of the total policies written by RAI Asigurari. What is the situation now?
I.H.:
In the first 6 months of the year, there have been issued, both directly on the company's site - www.asigurarimedicale.com -, as well as through partners, 45,000 policies in electronic format (of a total of 165,000 policies), totaling a volume of GWP of RON 1,380,500, representing 30% of total GWP registered by the company.

By the end of the year, we estimate that 55 - 60% of all policies will be issued in electronic format, in this system.

Moreover, in the period January - June, in the first quarter, we recorded a volume of GWP of RON 394,300, compared to RON 986,200 in the second quarter of 2009, when the growth was more than 2.5 times. In July, the volume of GWP in policies issued in electronic system was RON 585,000, emphasizing a real increase in the summer months.

XPRIMM: Less than a month separates us from the end of the holidays' period. In this context, what strategy will RAI Asigurari adopt, in order to increase the sales in the next period?
I.H.:
One of the strategies adopted by RAI to boost the sale of travel policies is organizing, for the RAI partners, a Promotional Campaign entitled "If you sell more insurance, we give you an award", all participants having the chance of winning the following awards: highly performant "all in one" PC-s, video cameras, GPS-s. The campaign is held during 15.07.2009 - 30.09.2009 and the awards will be granted on 15.10.2009, in descending order of the achievements registered by the partners during the campaign.

Other strategies adopted by the company are: development and improvement of the platform for issuing travel policies in electronic format, through the development of an automatic system that allows clients to order on-line directly from the partners' sites, both for efficiency and reducing costs of acquisition and management of the RAI portfolio of products, and for streamlining the activity of our partners.

XPRIMM: Will the recent move of RAI Asigurari in the GENERALI building be followed by a merger of the two companies?
I.H.:
In the near future, a merger does not enter into discussion.

XPRIMM: What are the objectives of RAI Asigurari until the end of the year?
I.H.:
In 2009, first of all, we want to maintain the leading position on the segment of travel insurance. We will focus on profitability, especially by reducing costs of acquisition and administration, due to the introduction of the on-line system for issuing travel policies.

We want to maintain the volume of GWP at the same level as the one of 2008, taking into account the estimates forecasted by the travel agencies' officials and the current economic context.
Of course, we want to attract new partners and new clients, both due to the development of the on-line system of issuing travel policies in electronic format, by simplifying the issuing procedure of the policies and by deductions with partners, and also due to the complex range of products offered by the company RAI Asigurari.

For example, for tourists who travel by plane we recommend the policy Turist Plus Premium, which covers a multitude of risks, such as emergency medical and/or repatriation expenses (dental emergencies, compensation for lost/damaged baggage, private civil liability abroad, damages for returned plane tickets and many others).

For those who travel by personal car, we recommend the product Tourist Car Assist, which covers a wide range of insured risks, such as: the loss/replacement of documents, cancellation of travel departure due to unforeseen events, road assistance outside Romania and not only.
For adrenaline lovers who practice extreme sports, we have the policy Xtreme Adventure. For those who buy a Dertour package, we recommend the product Turist Plus Dertour, and for those who leave by Kartago we offer the product Turist Plus Kartago and, also, the classic product Tourist.

Coming to meet all coverage needs, RAI is and will always be in touch with current market demands, and will always be alongside its partners, trying to offer flexible products, created at international standards, accessible to all the clients of the company.

XPRIMM: Thank you!


Editor: Oana RADU | Published on 21.08.2009






















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