Banking and insuranceEconomical

The first priority of the national insurance is capital increase

According to financial news, We read Shaykh al-Islami’s conversation with this publication:

* In your opinion, what is the most important strategic plan that the insurance industry should focus on in the second half of 1401?
In my opinion, the insurance industry suffers from an intergenerational relationship with the new information technology systems and traditional systems; In fact, it has not yet passed the stage of transition from traditional systems to modern systems in order to fully adapt itself to IT and information technology infrastructures. The insurance industry is suffering from this transition phase, but in my opinion, this transition should happen, considering that in the 7th five-year plan, the issue of insurance penetration and the development of the insurance industry and electronic services in this industry has been emphasized a lot. It seems that insurance companies are still not paying full attention to that point.

* Do you agree that the nature of startups is to enter the market and break the rules, and it is the market that should adapt to them, rather than setting a law for their entry?
If the insurance industry defines the framework of electronic services and IT infrastructure and becomes a leader in this field, such a problem will not arise, and it is others who fill this gap with their mental frameworks; If the insurance industry has a long-term and short-term plan for this area, it will definitely fill this gap and other startup companies will not enter the field without rules and disrupt the market.
At Mihan Insurance Company, we are preparing infrastructure in the field of information technology to enter the field of startups, and we have prepared products that we will supply through the insurance company’s channel; But we have not advertised about it yet. I believe that we do not need startups outside the insurance industry in the field of online insurance sales; If the insurance company has a startup and offers and manufactures products, it can definitely manage the market.

* In fact, you believe that you should take control yourself; But are you willing to use the services of startups that actually complete your service circle?
its definitely true; But the point is, is the insurance industry supposed to adapt its rules to the rules of startups, or are they supposed to create their own startups according to the rules of the insurance industry? This is a very important point. Today, social networks and all startups operating in the world adapt themselves to the framework of their desired industry. Our plan at Mihan Insurance is to implement the electronic sales network widely, and if our plans proceed according to our schedules, our sales network will be electronic within the next two years.

* Do you mean that you are taking your sales network to the platform?
Sales representatives of insurance companies have a lot of resistance when it comes to online sales, and a large part of this resistance is the weak growth of people and their mastery in the field of information technology; But in Mahin Insurance, the main condition for granting representation to the sales network is knowledge about the IT field; In fact, the person or himself must have mastery in the field of IT and get representation from us or must go through the necessary training courses in order to become a permanent representative with a certain period of time to continue the activity.

* Regarding the accumulated loss of the homeland insurance, please also point out what plans you have to reduce it?
The accumulated losses of Mihan Insurance Company can be considered from the point of view that its financial statements are completely transparent and there are no hidden losses in the company. The main reason for the accumulated losses of Mihan Insurance is mismanagement and the absence of single management and long-term planning in the company; Of course, we cannot negate the hard work of the past managers, they made a lot of efforts; But because the major shareholders of the company did not have a single and centralized plan to support the company, managers did not follow deep planning within the company in accordance with the views of the shareholders; But we will follow this program in the new period.

* Do you think that today the shareholders have become more coherent and united, and this has also affected the board of directors?
Yes, the non-uniformity of the board of directors has caused a heavy blow to the company due to the difference in taste of the major shareholders; But today there is uniformity in the board of directors of the company. The main challenge of Mihan Insurance Company was the high ratio of floating shares of this company in the capital market, and the shares of Mihan Insurance were completely free. One of his other challenges was the lack of stock market management. In the field of investment, major resources have not been injected into this company, and in the past periods, the company’s plan was not to increase the portfolio, and the sales network of the company and its representatives have decreased from more than a thousand representatives to 430 representatives, and this shows that the management of the past periods or the shareholders, expanded The sales network was not on their agenda and they did not have a long-term plan. We had a specialized study on this company and studied its entire sales network in the field during the past year.

* Please prioritize and state your main plan.
One of our plans is to determine the duties and elect the members of the company’s board of directors, and finally, the second high-priority plan is to get the company out of losses and increase capital.

* If you have another point, express it.
Homeland Insurance has a very noble body and very caring staff; Some employees have waited in this company for the past 13 years despite all the problems. The small shareholders of this company have suffered a lot, and this issue is not at all pleasant for us, and we definitely have a special regard for the small shareholders of the company, and we are not at all interested in the shareholders losing money. At Mihan Insurance Company, we follow the perspective of job creation; In fact, in the insurance industry, we have both the duty or the role of an insurer and we have a social role; In the social responsibilities department of Mihan Insurance Company, we have a special view to empower this company.

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