The unprecedented decline of the leasing market has forcedinsurers to find new growth resources, leading to intensifiedcompetition to attract individual clients on the comprehensive carinsurance segment, after focusing on big, corporate clients forseveral years.
Insurers such as Ardaf, Allianz-Tiriac, Groupama, and Uniqa areconducting campaigns to promote comprehensive insurance and offervarious advantages to attract new clients on this businesssegment.
They are now the only source of business that could at least inpart fill the void left by the decline of the leasing market, andimplicitly, of the insurance that goes with lease purchased cars(comprehensive insurance is mandatory for cars bought under aleasing contract).
In the first quarter of the year, overall underwriting fromcomprehensive insurance fell by 26% against the similar period in2006, to 600 million RON, according to data from the InsuranceSupervisory Commission (CSA).
"The decline of the comprehensive insurance market saw insurerstake steps to curb it. There is a clear orientation towards retailclients, but I don't think it necessarily has to do with thecrisis, it is a natural trend. Both insurance companies and brokersare focusing more on retail," explains Bogdan Andriescu, chairmanof UNSICAR (the professional association of insurance brokers).
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