MOLDASIG: Electronic policies issuing system will increase underwritings and capitalization of companies
 The electronic issuing system for mandatory motor insurance will be beneficial for the entire insurance market in the Republic of Moldova, considers Lilia TURCAN, Head of Insurance Department, MOLDASIG, the leader company of the profile market.
"Motor insurance holds a major share in the total underwritings at market level. The electronic issuing system is something necessary, useful and it should have been implemented a long time ago. It is unfortunate that we do not have, in the present, an unique data base throughout the Republic of Moldova, that would allow us to have a better record of policies. Reforms and changes are always somehow unpleasant, but we must make efforts to implement this system", said Lilia TURCAN.
"With the introduction of electronic issuing, underwritings will increase, I estimate by about 30%, and the share capital of insurance companies reaching the level required by the law will no longer be a problem for most of the companies", added the MOLDASIG representative.
According to Lilia TURCAN, the number of insurance companies currently active in the profile market is too high, as "the potential of the country and of this industry does not have the necessary strength to develop through the presence of 24 companies. To have fully satisfied clients, the market needs stronger capitalized insurance companies and, thus, less companies".
Author: Vlad BOLDIJAR
on 11.04.2011
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