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Insurance industry embraces children with new products
Insurance industry embraces children with new products
15.12.2021
GENERAL

According to research, new risks, products and services will generate $200 billion in revenue for the insurance industry. Considering the increasing health concerns due to the pandemic, the industry has great growth potential in front of it. Evaluating the new insurance products that have become widespread in the recent period, Can Paksoy, Insurance Product Development Manager of Hesapkurdu.com, said: “Families prefer TSS, which ensures the current health of their children, after BES, which invests in the future.”


*** This release is originally published in Turkish.
Google Translate Application translates the content you see on this page.***


ISTANBUL (TR) - The increase in concerns about health problems in the pandemic brings innovations in the insurance sector. A study by Accenture indicates that global insurance will grow by $1.4 trillion by 2025, while new risks, products and services will generate $200 billion in revenue for the industry. The share of children in this big cake is quite low. Even in America, which has the world's largest insurance market, 5.6% of children do not have health insurance. This situation accelerated the products for children. Saying that new insurance products that focus on children and their families have gained momentum in our country, which has a population of 22 million 750 thousand children, Hesapkurdu.com Product Development Manager Can Paksoy evaluated the issue with the following words: "With the new regulations, many children can be insured without the condition that the parents have a policy. We observe a significant increase in the demands for these products on our credit and insurance comparison platform Accountkurdu.com. While families invest in the future of their children with BES (Private Pension System), they secure their health with TSS (Complementary Health Insurance).

Unconditional insurance for the 6-18 age group

Stating that children were brought into the insurance sector with the regulation made last May, Can Paksoy said, “In order to purchase BES and TSS products for children, parents had to have these products as well. A mother or father who bought one of these products could include their children in their policy. With the new regulation, this situation has disappeared. Now, the health and future of children and youth in the 6-18 age group are unconditionally guaranteed.”

50 thousand children got BES

Stating that according to the data of the Turkish Insurance Association, there are 13 million BES participants in our country, Can Paksoy said, “Now, those under the age of 18 can also join the system. In a short time, PPS contracts were drawn up for nearly 50 thousand children across Turkey. Many insurance companies also offer additional opportunities such as educational contribution and discounts on different products in the BES product they have prepared for children. The share of children in the insurance sector is increasing.”

Safe travel possible with children

Stating that one of the innovations that have joined the insurance industry is in the field of motor insurance, Hesapkurdu.com Product Development Manager Can Paksoy concluded his words as follows: “Another insurance product offered for families with children is in the field of motor insurance. Some insurance companies offer discounted motor insurance products to help families with children both contribute to their budget and ensure safe travel. In these designed products, families with children between the ages of 0-6 are given discounts at varying rates on motor insurance and traffic policies.”

Contact: Tülay Genç | [email protected] | +31 30 799 6022

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