Insurance rate must be increased in compulsory insurance

 
 

Dr. E. Baturalp Pamukçu, General Manager of Türk Nippon Sigorta, said insurance sector is a significant sector that grows, creates credit opportunities, shapes economies and creates international activities. “Insurance companies can provide a solution to the resource needs of economies by investing the premiums and funds they receive in exchange for coverages they provide,” he stated. He said that insurance transactions therefore have some economic functions in addition to their standard coverage/premium cycle. Emphasizing that besides its social function, insurance market needs to have a significant function for the economy by creating huge funds, Pamukçu added: “This is only possible by increasing the awareness of insurance in our country and bringing its premium volume to the level of developed countries.”

 

‘Awareness may increase with an extensive combined effort

 

“We see that insurance rates are very low in Turkey, even for compulsory insurance products. Many policyholders do not have sufficient awareness. I believe that insurance market has to organize an extensive combined effort to increase awareness. The market needs to carry out bigger and more frequent promotional activities to increase awareness in individuals. As the entire insurance market, our common goal must be to make sure that every household owns at least one insurance policy,” Pamukçu said.

 

According to Pamukçu, insurance is a rapidly developing and growing market in Turkey due to its high potential: “Momentum of growth and development in the insurance market is one of the most important factors that makes insurance an all-time popular profession. Today, most of the occupations in the insurance market are regarded as the occupations of the future. Career opportunities go up rapidly in the insurance market, which currently provides employment for more than 70 thousand people.”

 

 
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