The voluntary insurance market in Romania has not yet reached its potential in terms of GDP penetration, so there is a need to promote the benefits it can bring. Valentyn Coroiu, vice president of the Insurance Directorate of UNIQA, considers it important for Romanians to know that housing, travel or CASCO insurance, for example, is an action from the present, with the following benefits, the need to successfully overcome undesirable moments.

And UNIQA Asigurări and its partners constantly analyze the needs of customers and adjust their offers to satisfy them with easy-to-understand insurance products that contribute to a better life and a safer future.

How is UNIQA’s strategy reflected in its approach to customers?

At UNIQA, with a customer-centric approach, we strive to understand and anticipate their needs, adapting to current lifestyles and future trends.

Therefore, we focus on responding specifically to the needs of different customer segments, and our goal is to contribute to a better life and a safer future for customers, partners and the community, and we work every day to translate this impact into our actions.

What noticeable trends in the insurance market have you noticed recently?

Romania faces a significant insurance deficit, as the level of coverage is at a low level compared to other European countries.

However, we have found that the impact of the health care crisis that we have recently faced has led to increased interest in life and health insurance. In addition, earthquakes at the beginning of the year and extreme weather events that have been occurring in recent years constantly in various regions of the country have led to the growth of the home insurance market.

It is true, we see that Romanians prefer to be reactive rather than proactive in terms of risk management, but despite this, we expect more and more to choose such financial protection solutions in case of unforeseen events that may affect their property, health or family safety.

And UNIQA stands by its customers, especially where they need protection in the event of natural disasters, as well as events that may cause discomfort and financial imbalance. And we offer affordable deals for everyone.

For example, for an apartment with an area of ​​55 square meters, insured for 60,000 euros, the insurance premium is 67 euros per year (330 lei), i.e. 1 lei per day, the amount may vary depending on the seismic zone of the city. where the building is located.

On the other hand, the level of interest in travel insurance is high, especially supported by those who buy vacations with their families. There would be room for growth here in short-term or individual trips, for which people unfortunately tend to forget that they need protection. However, it should be borne in mind that the statistics do not take into account the periods or the perception of each person, and adverse health events can happen, so that, apart from the fact that they affect our travel plans, they also have a financial impact on a vacation trip budget.

How can the penetration rate of voluntary insurance be increased in Romania?

Through continued education and awareness of people, which will lead to a change in the perception of insurance. Romanians should know that insurance is a necessity for delicate moments in a person’s life. In addition, insurance is not taken out for moments that cause joy, but in order to better pass through undesirable situations.

For example, the owner of an apartment or house has insured housing and/or property in case of a future event that may destroy the property obtained through consistent financial efforts. A child appears in the family, you take out life insurance to ensure the well-being of the family in case of an unforeseen event. Or we may think that our inadvertent actions could cause harm to a neighbor or other third party, and we need personal liability or company liability insurance to do so.

Basically, it’s what we think today for tomorrow, so that we can protect ourselves, our family or our business in case of unforeseen situations.

As Romanians’ needs and preferences change, how do you adapt?

In the complex context of recent years, we have been able to demonstrate excellent adaptability by understanding the changing behavior of customers. In addition, UNIQA’s strengths are its ability to continuously transform and adapt.

And since customers are at the center of our strategy, we think and develop simple, innovative products and services adapted to current needs and reality. We do everything for people nearby, potential customers, with UNIQA people ready to offer support and advice in any situation where the need for protection is identified or when they are in trouble, in case of damage.

And digitization is one of the important components of our business development strategy. Our digital advisor ANA is already an active digital service since 2019, innovative in the market and is used by more than 80% of UNIQA’s complaining customers. We facilitate the experience we offer customers in the policy sales process, paperless, through issuance flows and e-fill. We encourage and promote simple payment methods, using a bank card under conditions of maximum security, including the link payment system.

In addition, to support our clients, we rely on partnerships with brokers, who are particularly supportive in our development, given their presence in the market. The strategic partnership with Raiffesein Bank Romania offers us an extraordinary opportunity to contribute to the protection and financial planning of a growing number of customers with simple and relevant insurance products spread across the bank’s territorial network.

In addition, in line with our new brand positioning, I believe that the phrase “a better life together” defines how we operate, both in terms of the distribution process and in terms of support. With our own products and services, we want to be relevant to customers and include people’s real needs. This is not just brand positioning, this is how I firmly believe we are going to establish ourselves in the insurance market to earn and maintain people’s trust.

The article is supported by SC “UNIKA”.