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        Sylvain Ducros: Modular casco products will become important in 2023

       Sylvain Ducros, General Manager and CEO of Generali Sigorta,  product  offerings  (motor
       shared  his  predictions  for  2023  by  evaluating  the  dynamics  insurance, SME, and house),
       affecting  the  insurance sector  and  the  sector,  particularly  we  have  successfully  re-
       in  the  year  we  left  behind.  Sylvain  Ducros,  who  stated  that  launched our complementary
       the  insurance  sector  was  negatively  affected  in  2022  due  to  health product.”
       geopolitical  instability,  the  far-reaching  consequences  of  the
       ongoing Ukraine-Russia war, rising inflation, and the recession  We expect the gap to
       in global economies, said that the general outlook for 2023 is   narrow in 2023
       more positive.
                                                              Underlining  that  2022  was
       Basic needs came to the forefront of purchasing        a  challenging year  for  the
       behavior                                               Turkish insurance industry
                                                              in  his  statement,  Ducros
       Sylvain Ducros, General Manager and CEO of Generali Sigorta,  stated  that  he  thinks  2023
       who said that the pandemic and the subsequent ongoing process  will  be  more  positive  than
       were  dominated  by  very  harsh  competitive  conditions  globally  2022: “First of all, we have
       and locally, which closely affected the Turkish insurance sector,  a prediction that the policies issued in 2021 will have a more
       noted  that  these  conditions  also  made  it  difficult  to  recover  positive impact compared to 2022. In addition, forecasts for the
       in 2022: “After we left the pandemic behind, this new global  economy follow a more positive course. Even if prices continue to
       context and the harsh competitive conditions that began to make  rise with inflation, this effect will be much more moderate than
       themselves  felt  in  2021  drew  attention  as  factors  that  made  last year. New players continue to enter the Turkish insurance
       it difficult for the recovery in the Turkish insurance market in  market,  and  fierce  price  competition  is  evident.  However,  we

       2022.  Parallel to this new economic picture, in which many  expect the gap to narrow as the players in the market focus on
       people have experienced a decline in their income and purchasing  adapting to the new economic conditions brought by 2022. The
       power, we have experienced a change in customers’ purchasing  insurance industry needs to continue automating and robotizing
       behavior, in which an approach that emphasizes their basic needs  tasks to simplify business processes without losing the human
       and considers their budgets manifests itself.”         touch  in  its  operations  and  relationships  with  its agents  and
                                                              customers. Along with the trend towards personalizing products
       Emphasizing that two factors influence the upward movement  and the options offered to customers, the advisory role of our
       of insurance prices in 2022, Ducros said that one is inflation.  agents  will  become  necessary  because  the  need  for  customers
       The other is the need to restore positive margins and to be able  for guidance and training is increasing. Customers want to get
       to cover the increase in damage frequency after the curfews due  their  money’s  worth,  so  service  quality  is  becoming  a  critical
       to the pandemic: “Despite all these price changes, I can say that  component of decision-making processes. Our focus on service
       2022  is  a  tough  year  for  the  insurance  industry.  These  price  quality, our modular offers, and our renewed website stand out
       increases could not fully offset the negative margin created by the  among the steps we have taken in line with our predictions.”
       policies of 2021, affecting purchasing power with the effect of
       increasing wages, resulting in a review of insurance expenditures  We will support the digital transformation of our
       once again.”                                           agencies.

       We have expanded our modular product range             Finally,  Ducros  mentioned  the  developments  in  the  agency
                                                              network. They stressed that digitalization would continue to be
       Explaining that the year 2022 is a year in which the need for  the prominent trend in this field: “We believe that our modular
       digitalization  is  once  again  confirmed,  Ducros  stated  that  in  product range, designed in the light of the data and feedback we
       addition, a consumer trend towards personalization of products  receive from our agency network, will provide a great advantage in
       is also showing itself: “As a result of increasing prices, customers  the context of supporting the growth of our agencies in 2023. We
       began to review their needs more carefully and began to prefer  are determined to continue and accelerate our efforts to support
       certain guarantees tailored to their needs and budgets, rather  the digital transformation of our agencies. In an environment
       than getting full coverage at full price. As Generali Sigorta, at  where agents are increasingly taking on a consulting role for
       this point, we have achieved a good performance chart in Ekmek  their customers, it is vital to implement common strategies and
       Teknem, Süper Evim, and Benim Kaskom, which are our existing  close cooperation on products and services. For this reason, our
       modular products. To meet the needs of our customers more, we  lifelong partnership strategy has never been more meaningful.
       have developed our modular casco product range with different  Together we have paved the way to make a difference in 2023.”
       options  and  economic  advantages.  In  addition  to  our  basic
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