Mohammad Torabi, technical assistant of Asmari Insurance Company, is worried that the launch of the Public Disaster Insurance Fund will create false confidence among the public and prevent them from buying fire insurance, according to Monetary News. Susie give up in her current form. He believes that one should learn from the experience of other countries in this field and even make having fire insurance compulsory like third party insurance.
Torabi also announced the design of a plan for simple and customer-friendly sale of fire insurance in Asmari Insurance Company.
Why do you think fire insurance does not have a large share in the household basket, when the probability of occurrence of the risks covered by it is not less than the probability of occurrence of risks such as a vehicle accident?
This shortcoming is not specific to fire insurance and covers all areas of insurance except compulsory third party insurance. The reason is that the insurance culture in our country is less developed, in other words, people still do not fully understand the concept of insurance. If someone accepts that insurance can help them in the event of an accident, they will buy insurance without coercion.
The time to promote insurance culture is also childhood. That is where children should be told that the accident is finally happening and that compensation can be left to the insurance company. Unfortunately, nowadays, insurers’ advertisements are more on products and less people are willing to invest in insurance culture, so these advertisements do not have much effect on the market.
But this little information is more about comprehensive insurance such as car and life. Few people advertise fire insurance.
Car insurance is tangible for insurers. The occurrence of damages and their compensation is also understandable for the insurer. Life insurance has the same conditions as the investment aspect, but fire is an accident that not everyone has experienced.
Anyone who drives for a while will undoubtedly experience an accident, but there are those who have never experienced a fire, earthquake or flood in their lifetime. This is how even insurance companies try to pay more attention to the fields that they want more.
Of course, experience shows that after natural disasters, people rush to buy fire insurance.
Yes! These are shocks that enter the insurance market and, of course, subside very quickly. In my opinion, this issue is very closely related to the general culture of the people.
On the other hand, advertising and information in the field of insurance must be continuous. It should also be an idea to inform the back of every ad, so that it should not be assumed that the ad should only sell in a short period of time. If advertising creates enough “awareness” in people, they will feel the need to have insurance and buy insurance. If someone believes that a small accident may destroy all his assets in a very short time, he leaves the risk of the accident to the insurance company.
It is said that one of the reasons why people are not lucky enough to buy fire insurance is the title for which it was chosen. Many people do not even know that risks such as floods, earthquakes, plane crashes or pipe bursts can be covered by this insurance policy.
Fire insurance is the oldest field of insurance in the world after maritime transport insurance, and it has undergone many changes since its launch. However, in today’s world, there is basically no fire insurance, and the world’s largest insurance companies, instead of using the risk name as insurance policy, consider the insured name as an insurance field.
For example, “residential home insurance” is an insurance policy that covers such things as fire, elevator accidents, liability, and so on. “Warehouse insurance” can also include coverages such as fire, theft, liability and..
We too can emulate these and adapt them to our own rules and regulations. I believe that not only should the way fire insurance is offered in its current form change, but some of its rules should also change. There are now new risks in societies for which insurance coverage should be defined, whereas under existing law, this is not possible.
Can the forthcoming Public Disaster Insurance Fund address the concerns of natural disaster risks?
This fund is supposed to cover some of the risks in public, and of course, the ceiling of these coverages is not clear yet. It can be considered a valuable entity because it covers all residential homes, but there is concern that after the plan becomes operational, some people who now buy fire insurance from commercial insurance companies will continue to buy. Give it up.
People need to know that home equity is different and a public insurance policy cannot fully cover their assets. I generally believe that buying home fire insurance should be mandatory.
A devastating earthquake in Turkey a few years ago forced the Turkish government to make earthquake insurance compulsory for all homes, as the government would not be able to compensate in the event of a major accident. These are the commercial insurance companies that can manage the losses.
Fire insurance is one of the cheapest insurances and companies usually offer big discounts on them during sales festivals. What is the cause of this incident?
Unfortunately, there is the issue of offering a discount or offering a much lower rate than the technical rate in all fields, to the extent that in some cases even the administrative costs of issuing the insurance policy are not covered! People should know that the discounts that are sometimes seen in the advertisements of insurance companies are not real. In my opinion, this method only hits the insurance industry and in some cases gives people the signal that insurance is a very cheap commodity, while selling cheap insurance can mean not providing proper services.
Asmari Insurance Company will never enter the dumping space and will provide full service to the customer in exchange for receiving technical insurance premiums.
What is the share of fire insurance in Asmari insurance portfolio?
If the share of this field in terms of amount is compared with other companies in the same category, Asmari Insurance is not significantly different from them, but the share of fire insurance in the portfolio of Asmari Insurance Company can not be compared with the share of this field in the portfolio of other companies. Asmari Insurance has a special focus on selling individual health insurance.
Another point is that the sale of fire insurance in Asmari Insurance Company was not much considered before last year, but from the beginning of 1399, rate reform and reform of Asmari insurance issuance software became operational to rationally increase the sale of fire insurance and The result was a 2.3-fold increase in sales last year compared to the previous year.
The fire insurance loss ratio in our company is about 40%, which is a very good number and is lower than the industry average.
What is the competitive advantage of Asmari fire insurance?
If the competitive advantage is only the insurance policy rate, I must say that calculating the rate in our company is quite technical, but the fact is that the rate is only one element of the competitive advantage and how to provide services to many customers is more important than the rate . We prioritize the payment of damages and as soon as we estimate the amount of damages, we will pay it to the customer.
Do you have any developments in the field of fire insurance sales?
You may mean using online sales capacity as one of the newest insurance sales channels, but research shows that this method has not been well received by insurance industry customers. This method of selling is still in its infancy and people should trust it.
So instead of focusing on online sales, we have tried to come up with a new way to sell. Our plan to make selling fire insurance easier is based on an intermediate solution between online and traditional sales. This method is being finalized and will be operational in the near future.
I believe that if the sales method changes, we can increase the market share of the insurance industry for Asmari Insurance Company with the existing insurance disciplines, and I hope that our new plan to sell fire insurance will achieve this goal to some extent.