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Turkish Insurance Sector is Digitalizing Faster than UK

Turkish Insurance Sector is Digitalizing Faster than UK
10 May 2018

Turkish Insurance Sector is Digitalizing Faster than UK

The first fuse technology culmination of our country "Insure and Innovate Summit'18" Speaking Telesur Insurance Operations Director Llewelyn Padiachy, "the insurance sector in Turkey, according to the world to the UK of the most developed market in this area, much more quickly digital.​


*** This release is originally published in Turkish.
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ISTANBUL (TR) - As a result of this digitalization, consumers can buy insurance products more cheaply. Bu 1.3 trillion global insurance market with $ 30 billion in size, reaching Turkey in the insurance industry, a new generation of insurance technology and the summit is evaluated on digital innovation focus, best known for his successful online service applications South African Telesur Insurance representing the participating Padiachy, "Continuous Customer Experience in a Digital World De spoke on the panel. Padiachy stated that insurance technologies (insurtech) producing consumer, innovation and digital focused solutions to the insurance sector facilitated the emergence of many platforms that provide alternative solutions to classic insurance products and distribution channels. Telesure Sigorta has the largest online insurance sales platform operating in the UK market for 26 years. Turkey's first online insurance sales platform to transfer experience there said they established Koalay.com.

Llewelyn Padiachy, who explained the fast digital transformation in the Turkish insurance sector through the example of England, said: le In the UK, the insurance sector has reached its current digital status after three phases. First of all, it has evolved from the sales carried out by insurance companies, which are the basic business model, through direct sales through call centers. Then the insurance products, whose scope became standard with the regulations, became different only in the price. At this point, online insurance sales platforms were introduced, which allow comparison of the price of many insurance companies. Just like the travel agencies have been replaced by Amazon.com by Booking.com or bookstores. In Turkey, the agency sales model is different from the UK, we are witnessing the transition to direct online sales platform. As Koalay.com, we have been serving this market since 2013. 

Telesure Insurance Operations Director, who mentioned that customer satisfaction has gained a new dimension with its digitalized insurance strategies, said, kısa Online insurance sales platforms are not a threat to insurance companies, but rather they enable to reach more consumers in a shorter time and increase consumer satisfaction and produce lower cost policy solutions. The sale of more insurance in the sales model due to the workforce-based structure meant more expense. The insurance companies have lost their insurance costs. In addition to the standard, fast and easy service, the consumer experience and satisfaction gained new momentum together with low prices.

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