Page 15 - Turkinsurance Digital Magazine
P. 15

15


















     Insurance and private pension sectors


     grow with new developments




     Atilla Benli, Chairman of the Insurance Association of Turkey: “The entry of the under-
     18s into the system will increase national savings”


     Recently, many new regulations have  million participants as of 04.06.2021  nies have successfully carried out trans-
     been implemented in the fields of in-  with a fund size of more than 185 billion  actions regarding the requests of our par-
     surance and private pensions. One of  TL.                                  ticipants through digital media. There is
     the most talked-about is innovations                                       an infrastructure that can carry out all
     in private pensions. How do you inter-  With  the  amendment  of  the  New  Law,  transactions from the establishment of
     pret the opening of the entrance to the  the target audience, which constitutes 24  the contract to the change of fund dis-
     under-18 section to BES?              million of our population, is under the  tribution through mobile applications or
                                           age of 18, is included in the BES; it is  websites with a single click.
     With the law that entered into force after  expected that 3 million participants and
     being published in the Official Gazette  30 billion funds will enter the system in  With the change in the Regulation made
     dated  May  25,  2021,  and  numbered  the medium term. With the transfer of  last May, steps such as the creation of a
     31491, the first sentence of the first par-  more than 50 foundations and provident  structure-based more on electronic com-
     agraph of article 4 of the Private Pension  funds until 2023, it is thought that a sig-  munication tools and information pro-
     Savings and Investment System Law No.  nificant size will bring a new breath to  cesses, as well as the introduction of a
     4632 was abolished, and the requirement  BES.                              digital approval mechanism as an alter-
     of legal capacity to enter the system was                                  native to wet signature, will ensure that
     abolished in order for persons under the   “In order to make the           the transactions are carried out quite
     age of 18 to be included in the system.                                    quickly.
                                                 integrated product
     With the new regulation, it will be pos-  attractive, for example,         In this context, it is thought that the Y
     sible for those under the age of 18 to                                     generation will be able to follow their
     make contracts on their own behalf in the   when a participant with        savings and communicate with pension
     system, and the inclusion of those under   BES purchases health            companies in a technology-oriented way.
     the age of 18 in the system will create a
     significant gain in the growth of national   insurance, we expect an       Will  the  integrated  assurance  packages
     savings by acquiring savings habits at a   additional incentive to be      that will be offered with the BES create
     young age.                                                                 strength in areas such as the product va-
                                             offered in addition to the         riety offered to the customer and the pro-
     We believe that the inclusion of children   existing advantages for        longation of the insured stay? What will
     under the age of 18 in the system in order                                 be the additional benefits of assurance
     to increase national savings and spread    these two products”             packages?
     the habit of saving will make significant                                  The presentation of individual pension
     contributions to the sustainable growth                                    products, which are the most important
     of the BES, which is the savings locomo-  Young people and children under the  savings tools that our citizens use to
     tive of our country, with the transfer ar-  age of 18 are very active in the digital  earn additional income during their re-
     rangements from foundations and funds.  field, have a low sense of belonging,  tirement periods, and insurance products
     As of today, there are no obstacles for  and may have different expectations  that offer coverage against the risks that
     young people under the age of 18 to enter  from the Y generation. What could be  our citizens may encounter in their lives
     the system.                           the roadmap to attract this segment to  will open up an important area for our
                                           the system and ensure long-term per-  sector and our citizens.
     BES was established in our country in  manence?
     2003 and has continued its steady growth                                   In order to make the integrated product
     since its establishment and reached 12.7  During the epidemic, our pension compa-  attractive, for example, when a partici-
   10   11   12   13   14   15   16   17   18   19   20