Undersecretariat of Treasury General Directorate of Insurance TURKISH MODEL IN GENERAL Dr. Ahmet GENÇ Director General of Insurance Insurance Summit İstanbul 23-24 May 2011

1. Main References of The Model



International standards (IAIS ICP’s etc.)



EU Directives



Turkish Market Needs



Lessons From The 2001 Crises



Lessons From The New Implementations

2. Main Actors of The Model



Supervisory Authority (Undersecretariat of Treasury, General Directorate of Insurance&Insurance Supervisory Board)



Insurance Companies



Reinsurance Companies



Pension Companies



Intermediaries (Brokers, Agents)



Loss Adjusters



Pool Organizations



Associations



People



Other Public Authorities (Ministry of Health etc.)

3. Main Benefits of The Model



Close Monitoring of The Company Activities



Being Capable of The Analysis of Each Companies Financial Situation Timely



Being Capable of Early Warning of The Financial Weaknesses



Being Capable of Analysing the Loss Ratios, Technical Profits etc. Branchwise



IT Based Management of Loss Payments Prosedure



IT Based Monitoring of Intermediaries



IT Based Monitoring of Loss Adjusters



Consumer Information/Protection



Leaving The Market Without Causing Big Turbulances

4. The Model Containig What?

For All Market Players Accession to The Market Operation in The Market Going out of The Market

5. Summary of The Model I Licencing/ Registering

- Evaluation of The Treasury -Insurance Agents Database

(TOBB SAIK)

-Insurance Loss Adjusters

Database (TOBB SEIK)

-Insurance Brokers

Database (Brokers Association)

6. Summary of The Model II Monitoring of The Operations

-Insurance Monitoring

System (SGS)-Treasury

-Insurance Information

Center (SBM)

-Pension Monitoring

Center (EGM)

-TCIP (DASK) IT

System

- Agricultural Insurance

Pool (TARSİM) IT System

-Brokers -Loss Adjusters - Agents IT

System

7. Summary of The Model III Going Out of The Market

- Special Rules - Changing the Managers/

Directors - Merging, portfolio transfer

- Permanent Prohibiting

of operations/ Taking back of the licence

8. Summary of The Model IV Consumer Protection

- Guarantee Fund (GH) - Guarantee System /Deposit

System

- Insurance Arbitration

Commission

9. Summary of The Model V Other Components of The Model

-Insurance Education Center

(SEGEM)

- Associations

THANK YOU