Four years ago a student at the Academy of Economic Studies(ASE) established a business that few expected to succeed, butwhich has already overshot the one million-euro mark. He startedout by selling RCA (auto liability insurance) online, but now alsosells home insurance and insurance that covers trips abroad.
The sale of insurance online is still in its early stages inRomania, with only a small percentage of all policies being sealedonline, but there are already entrepreneurs who have reachedseveral million euros' worth of business from online policies.
In 2006 Alexandru Pintilie, an ASE student, started a businessthat has already overshot the one million-euro mark last year, with2 million euros expected for this year. Pintilie, now 25, is themajority shareholder of Pintilie Broker de Asigurare (PintilieInsurance Broker), which owns two websites that sell insuranceonline: rca-ieftin.ro and asiguratorii.ro, the latter launched thismonth. The firm has another two partners: Vlad Dorofte (26) andValentin Radu (29), who became shareholders later.
Last year the rca-ieftin.ro website sold 5 million RON' worth ofpolicies (gross underwritten premiums), but there is no profit totalk about, because all the money is being reinvested, Pintiliesays.
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