CertAsig, Gold Partner at the PRBAR Annual Conference. “We value broker partnerships in all markets where we operate”
CertAsig, Gold Partner at the PRBAR Annual Conference. “We value broker partnerships in all markets where we operate” – by Cristina Hlinschi, PR and Communication Consultant
At the beginning of October, PRBAR, a new but very active association of brokers in Romania, held its first Annual Conference.
PRBAR – the Romanian Trade Association of Insurance-Reinsurance Brokers – was founded at the end of last year, initiated by 10 of the largest insurance brokers in Romania, whose cumulative share is 25% of the Romanian insurance brokerage industry. Since its inception, other members and partners joined the Association, whose members increased their collective total market share to 30%.
The annual conference took place at the Lac de Verde Golf Club in Breaza and brought together specialists from the insurance industry, around several key topics – legislative changes in the market, the challenges faced by brokers, but also their role in the insurance industry, the development of compulsory residential insurance, the integration of the Insurance Distribution Directive into Romanian legislation etc.
CertAsig was one of the main partners which supported the organisation of the event. “We support PRBAR initiatives, in the same way that we support all projects and initiatives of our brokerage partners. Our business model is based on the distribution of our products exclusively through brokers, so we are happy to participate in the development of professional networks and insurance specialists“, said Mihai Bizineche, Chief Underwriting Officer of CertAsig, who attended the conference together with Mihai Sarbu, National Sales Director, and James Grindley, CEO of the company.
One of the subjects of real interest was also the presentation of professional training and development opportunities provided by the PRBAR Academy, in collaboration with ISF and other prestigious institutions. As an insurer specialising in complex products targeted at companies, CertAsig welcomes such initiatives, which create a more informed market and help train our future insurance professionals.
We were also pleased to note brokers’ growing interest in non-motor insurance, which provides significant opportunities for profitable and sustainable business, opportunities that have not yet been fully explored. Of course, retail insurance will always be a key area for brokers because of the volume it generates, but we are happy to see that brokers are increasingly active and creative in the development of the corporate insurance segment. This is the market segment in which we play, not only in Romania, but also Bulgaria, Czech Republic and Turkey.
“Romania is our biggest market, of the 4 in which we are currently active, and I’m happy to see how far we have come together in the insurance industry in the last few years. We are replicating our best practices in our other markets too, in Bulgaria, Turkey and more recently the Czech Republic. Our portfolio of insurance products – bonds, general and professional liability, commercial property, engineering and technical insurance products etc – which we’ve pioneered and developed successfully on the Romanian market, is now customised and perfectly adapted to the specific needs of our Czech, Bulgarian or Turkish clients and partners. In all of our markets, brokers can rely on CertAsig for the best expertise and on smart solutions, which will enable them to serve and assist their clients and advance their business achievements”, stated James Grindley, CEO of CertAsig.