The International Insurance Forum is a top level environment for re/insurance professionals and a platform for the exchange of business insights on essential issues of the re/insurance industry. The summit is completely organized for and by professionals, ensuring the highest quality program in all aspects.
IIF 2012 was focused on a major topic – profitability in motor insurance -, taking into consideration both the future trends and the most relevant past experiences. Keeping in mind the need to identify further growth opportunities for the industry, the Forum put forward some of the most promising insurance markets, in terms of potential and business opportunities.
Motor insurance in emerging markets – is the price war over?
Despite the current financial crisis, motor insurance remains the main business line in most of the emerging markets. More and more people and businesses use the roads and motorways of CEE and CIS countries as part of their day-to-day operations. However, the part motor insurance played for decades was shaded in the recent years as high claims ratio and low profitability occurred. Ever-increasing repair costs, unprecedented bodily injury claims and growing insurance fraud became difficult to manage for insurers, thus threatening their profitability.
IIF 2012 has therefore analysed the most efficient tools to optimize claims costs, as well as the means of transferring the best practices towards the emerging markets.