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Jun 2019

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Turkey: Umbrella trade body sets up committees to develop insurance agencies

Source: Middle East Insurance Review | May 2019

The TOBB Insurance Agencies Executive Committee (SAIK) has established six committees to improve the profession in order to enable agencies to perform more effectively, systematically and efficiently.
 
The committees are: Education; Legislation; Determination of Professional Problems and Development of Solutions; Insurance Awareness and Promotion Strategy; Enlarging the Insurance Market and Problems in Compulsory Policies; and Development of Compulsory Policy Areas.
 
Members of the committees have also been named, reported Insurance Gazette.
 
Insurance agencies in Turkey are facing pressure from falling insurance demand due to higher interest rates and inflation rates and from rising operating costs, according to Mr Resit Cakas, chairman of the Insurance Agencies Association (SAB). More than 60% of total premium production in Turkey is generated by agencies.
 
TOBB, which stands for Union of Chambers and Commodity Exchanges of Turkey, is the highest level representative of the Turkish private sector. M 
 
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