Page 10 - Turkinsurance Digital Magazine

10 at a glance

It’s extremely important to be insured to minimize cyber risks

grow healthy both in quantity and quality and said: As for
the progress of the sector, eliminating document printing
and ensuring that documents can be fully served in digital

media, enabling the compulsory notifications of companies
to be made digitally, digitalizing policy processes, transfer-
ring expertise reports and invoicing transactions to digital
completely, involving the insurance sector in the e-govern-
ment application and ensuring that all transactions to be
made on this platform are valid are among the issues that
are expected to experience solid developments during the
year.”

E-government integration and E-policy project from
TSB and SBM

The Insurance Association of Turkey (TSB), which contin- As insurance is a sector that processes a significant amount
ues its work with 64 member companies and subsidiaries to of data, TSB emphasizes the importance of evaluating these
develop the insurance sector and increase the added value data for the benefit of the public. Obalı stated that under
to the Turkish economy, is leading the digital transforma- the leadership of TSB, projects were designed to establish
tion of the sector. Among the works carried out by TSB, central structures within the Insurance Information and
digitization and data analytics topics have a priority. Özgür Monitoring Center (SBM) to better analyze the data and to
Obalı General Secretary of TSB stressed that thanks to the offer safer services to the insured and said: “Thanks to data
performance of insurance in terms of digitalization, it also analytics, it is aimed to develop products that will be needed
continues its services without interruption in the pandemic by the policyholders by conducting trend analyzes.”
process.
In 2020, TSB developed two important digitalization pro-
Özgür Obalı General Secretary of TSB made assessments jects with SBM, one of its affiliates: E-government integra-
on the journey of digitalization of the insurance sector and tion and E-policy project. Thanks to e-government integra-
what remote work that came into our lives along with the tions, all insureds can view their policies in detail. In this
pandemic brought to insurance. Pointing out that 2020 was context, it is ensured that TCIP policies against earthquake
a difficult year for insurance companies, Obalı said that de- disasters can be arranged through the e-government portal,
spite this negative situation, there were no problems in the while at the same time, it is planned to expand the services
claims processes, that they undertook 44 billion TL compen- offered through e-government with different insurance prod-
sation, that there was a 19% premium increase on the pro- ucts.
duction side and that this growth trend continued in 2021
thanks to applications that come with digitalization, such as With the e-policy, another important project, it is planned
setting up a remote working infrastructure, installing sys- to develop a more environmentally friendly approach by re-
tems that can provide remote service to customers, including ducing printing and shipping costs. With the e-policy imple-
call centers. mentation in the insurance sector, cutting down 21 thousand
trees will be prevented and value-added work will be put
Obalı underlined that business processes have accelerated forward in terms of environmental awareness.
thanks to digitalization and said: “For example, with the
feature of image recognition, important facilities were pro- The way to protect against cyber risk is insurance
vided in damage detection processes. Possible damages of
the insured were relieved without the need for physical de- Mentioning the benefits of digitalization to the insurance
termination. As a result of these positive developments, it is sector and its importance for the sector, Obalı said: “We
planned to increase digitalization in insurance, and in this have many more projects we plan to realize in terms of digi-
way, the standards of service quality will also increase.” talization.” and stated that The number of policies produced
in digital, which is at the level of 11% in Europe, is around
Close cooperation with SEDDK to transition to a 3% in our country. Stating that the demand of the insured is
paper-free period in insurance in the direction of the digitalization of the processes, Obalı
noted that the digitalization of agencies and the diversifica-
Obali pointed out that the insurance sector is the most im- tion of distribution channels have accelerated as the sector
portant player in the financial markets after banking, and pays attention to this voice. Obalı added that: “As digitali-
said that this requires legal regulations in all steps to be zation increases, it is necessary to be aware of the increas-
taken from the point of view of the sector. Obalı stated that ing cyber risks. It is extremely important to be insured to
the close cooperation of the Insurance Association of Tur- minimize cyber risks in the face of new situations brought by
key (TSB) and the Insurance and Private Pension Regula- digitalization. The way to protect against risk is insurance”.
tion and Supervision Agency (SEDDK) allowed the sector to