Page 20 - TurkInsurance Digital Magazine

18 at a glance

“A huge part of the population in Turkey is still uninsured”

ability insurance, environmental liability insurance, financial
insurance, engineering and construction insurance, casualty
and health insurance, and cyber-security insurance. Buğday
said that Chubb broke new ground in the Turkish market with
their dental health insurance, adding that monetary concerns
frequently detain people in Turkey from visiting dentists.

“1 trillion USD annual investment against cyber-at-
tacks”

Saying that processes are now conducted over smartphones
and computers in all markets and companies, Emre Buğday
added as follows: “All companies benefit from technology in
both production and marketing phases, as well as while offer-
Emre Buğday, Country President of Chubb Turkey, stated ing their products and services to consumers. However, tech-
that Turkey bears a huge potential for insurance market due nology that makes our lives easier also make us all open tar-
to its demographic features and young population. He said: gets for malevolent people and parties. Cyber-attacks do not
“It is important to reach out to individuals and create that only target big companies but also small and medium sized
awareness. A huge part of the population in Turkey is still enterprises. As the attacks are getting more and more fre-
uninsured.” Buğday shared some details about Chubb Turkey quent all around the world, Turkey is also one of the targeted
as one of the companies that provided insurance coverage countries.”
for Çanakkale Bridge and Northern Marmara Highway, and
evaluated Turkish insurance market; saying that Chubb offers Buğday emphasized that 1 trillion USD will be invested in
more than 200 different corporate and individual insurance protection against cyber-attacks around the world until 2021:
products as well as reinsurance products and services for mul- “As of 2020, we will be needing 50 times bigger protection
ti-national corporations, SMEs and retail customers. against cyber-attacks. Global losses from cyber-attacks that
have increased very rapidly in recent years will climb up to
Emre Buğday reminded that as a company that runs opera- 6 trillion until 2021. According to ATLAS international cy-
tions at 170 points in 54 countries, Chubb has a history of ber-attack intelligence network, 7.5 million DDoS attacks
130 years. He added: “Chubb Turkey can issue international that aimed to prevent online access were recorded around the
policies. Chubb acts very rapidly in claims management and world. ATLAS’s report states that 475 online DDoS attacks
claims payment processes; or in other words, after the loss were recorded per day in Turkey during 2017. Number of at-
has occurred.” Underlining that Chubb adopted their glob- tacks was 20 per hour and 3 per minute. Based on the types
al products into Turkey based on market requirements and of those attacks, cyber criminals usually focused on connected
demands; Buğday said that they offered products of D&O li- devices that are called IoT (Internet of Things).

TARSİM in Spain

TARSİM has recently attended Agricultural Insurance Semi-
nar, which was organized by Mapfre RE in the Spanish cities
Madrid and Valladolid. During the seminar, TARSİM has in-
formed the participants about our country’s agricultural insur-
ance practices.

Our country was represented in Spain by a committee attend-
ed by Yusuf Cemil Satoğlu (General Manager of TARSİM),
Bekir Engürülü (Head of Agricultural Insurance and Natural
Catastrophes under the General Directorate of Agricultural
Reform at the Ministry of Food Agriculture and Livestock), in Spain. They shared the details of the system in our coun-
Zeki Karakurt (Assistant General Manager at TARSİM), as try and its progress over the years. An additional presentation
well as other authorities from the Ministry, Undersecretariat was made focusing on the Province-Based Draught Insurance
of Treasury, and TARSİM General Management. and the results of loss adjustment activities in this field. The
committee also attended some fieldwork organized within the
Within the scope of the seminar, TARSİM committee re- scope of the seminar.
ceived information about the agricultural insurance activities