New Underwriting Centres of Excellence, for direct dialogue and speedy reactions

New Underwriting Centres of Excellence, for direct dialogue and speedy reactions
by Mihai Bizineche, Chief Underwriting Officer, mihai.bizineche@certasig.ro

mihai_bizinecheIn December 2016, CertAsig changed the structure of its underwriting teams in Bucharest and the way to interact with brokers. The ultimate goal being to improve fluidity and reduce response time.

CertAsig’s strategy is to distribute its insurance products through insurance brokers, which generate close to 98% of our business. It is very important for us to consolidate a system of fast and efficient collaboration with brokers to offer products which are specifically tailored to their needs, all with competitive terms and conditions.

Until last year, underwriting was structured with teams of broker coordinators, who were the interface between underwriters and brokers. The underwriters then configured the insurance products, as well as the technical and financial solutions we offered. It was a very effective model of collaboration up to that moment, which enabled CertAsig’s total underwritten premiums to grow significantly, from 9.9 million in 2012 to 14 million in 2016.

In response to brokers’ constructive feedback, we reconfigured the way we work. Now we have eliminated the broker coordination and management team and replaced with our team of specialized underwriters. Our expert underwriters are organized into underwriting centers of excellence.

CertAsig’s underwriting team is now structured in 6 centers of excellence, as follows:

  1. property & engineering
  2. liability
  3. bonds
  4. Marine – Hull, P&I and cargo
  5. general aviation, including drones
  6. personal accidents and group travel.

Brokers now have direct access to the underwriters who configure the most suitable insurance products and solutions, depending on the area of expertise required.

Our underwriters are empowered to assess and accept risks, of course within our underwriting guidelines and our defined risk appetite.

The new organisation has already been saluted by many of our partner brokers. Our initiative is ultimately to the support and benefit of brokers, because we will be able to adjust the technical solutions we offer, but also our pricing and underwriting processes. The ultimate aim is to improve our quote success rate and to develop our business together.

You may contact directly the CertAsig underwriters by visiting  https://www.certasig.ro/companie/echipa-certasig/.

To conclude: we trust you will embrace and welcome the benefits of this new approach.

Initial signs of market evolution seem very positive, despite many political issues. We look forward to a strong non-life insurance market growth for us all!

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