Astra Asigurari in the first half of this year gained more thanone million customers on the segment of home insurance, afterhaving launched an offer with a 20-euro standard policy, with atemporary reduction to as little as 8 euros, which clients couldpay by SMS-es.
The maximum sum customers get in the case of damage stands at20,000 euros. This is the most powerful sale campaign that has everbeen carried out on the home insurance market.
"The value of the policy can be raised depending on customers'needs, but in the case where an owner has a property worth 70,000euros, but seals a policy of just 20 euros, the claims value standsat 20,000 euros," explained Radu Mustatea, president of AstraAsigurari general directorate. Astra's offer is virtually in syncwith the past year's media campaign regarding the compulsory homeinsurance.
Brokers say the offer was welcomed in the context where homeinsurance is not among Romanians' priorities. "It was a very goodstrategy of boosting sales volumes. It is very good people havestarted buying house insurance, which they haven't much used to sofar," stated Cristian Fugaciu, general manager of Marsh.
In Romania, 1.88 million homes of a total of 8.36 are insured,in line with data provided by the Insurance Supervision Commission(CSA). Astra alone provides insurance to 1.13 million homes.
Insurers hope the introduction of compulsory policies for homeinsurance will also boost sales of voluntary policies, as customersunderstand compulsory insurance does not completely cover possibledamages.
"Everything depends on the skills of sales personnel, but Ibelieve a percentage of 10-15% of sealed policies is a reasonablelevel," stated Constantin Toma, chairman of the managing board ofPAID (Disaster Insurance Pool).
Radu Mustatea, who is also PAID vice-chairman, expects sales ofvoluntary products to account for as much as 20-25% in compulsoryinsurance.
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