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    • The rise of the insurance industry in the smooth path of life insurance

      The rise of the insurance industry in the smooth path of life insurance

      The rise of the insurance industry in the smooth path of life insurance

      The technical deputy of Karafarin Insurance Company announced a 31% growth in life insurance in 1399 compared to the previous year.

      Abbas Eslami, Technical Deputy Managing Director of Entrepreneur Insurance in Life Insurance, in an interview with Iranian Banking, said: Entrepreneur Insurance Company, by creating incentives for sales agents, quantitative and qualitative development of the network and designing various products, especially in life insurance, always tries to differentiate and It has a competitive advantage.

      Entrepreneur life insurance portfolio path

      Eslami considered a set of policies and investments as the reason for the growth of life insurance in entrepreneur insurance and explained: Entrepreneur insurance has maintained life insurance since March 1997, based on organizational experiences and strengths and correct understanding of customers' needs and knowing the limitations of previous insurance policies. And tailored to the needs of the day. Prior to the launch of Omid Omandakhtar insurance policy, the number of insurance policies issued in 1997 was equal to 44,000 insurance policies, which fortunately in 1998 doubled to 88,000 units and in 1399 nearly 100,000 units were sold. Considering that the sales of Karafarin Insurance Company have traditionally been focused on annual insurance premiums and significant amounts, the production premium in life-saving insurance still includes a 50% share in the company's portfolio.

      The premiums collected for life insurance in 1998 with a growth of 17% compared to 97 was about 650 billion tomans and this portfolio, in 99 compared to 98 with a growth of 31% and insurance premiums equivalent to 830 billion tomans, which includes This is a sign of market success for the company's product and brand.

      The technical deputy of life and life insurances of entrepreneur insurance further said about the life insurance with savings: "Entrepreneur insurance in the life savings plan of Omid while paying attention to the age range of the insured and increasing it up to 80 years old, while also covering certain diseases in terms of number Covers and Capital Expanded Liabilities To cover service disability from the condition of the accident for any reason.

      Entrepreneur's life insurance loss ratio is lower than the average of the insurance industry

      Emphasizing that the loss ratio and the loss ratio of the life insurance of the entrepreneur are lower than the average of the insurance industry, he explained: Part of the insurance premiums is the company's commitment to the insurance reserve, from which maturity, redemption, withdrawal and loan, insurance policy Is provided and all these cases are mentioned as losses in the statistics of the insurance industry, while these cases should be considered as part of the liquidity costs of insurance policies.

      Review the needs of the insurance industry day

      "Continuous improvement and revision of regulations and executive instructions of the insurance industry and development of methods and processes can always gain people's trust in the industry and welcome the purchase of insurance policies," he said. In order to create discipline in the market, it can meet the current needs of the market and customers. On the other hand, in the field of legislation, the capacities in By-Law 68 are such that there is no restriction on the activity of the insurance company in the field of life insurance. Insurance companies can easily submit their new plans, even if they do not have a history in the context of existing regulations, with technical analysis and accurate risk analysis, in order to obtain special licenses.

      The effect of corona virus on life insurance

      In another part of his speech, the technical deputy CEO of Karafarin Insurance Company pointed to the impact of Corona virus on life insurance and said: "Before entering and officially announcing Corona disease in the country, the company studied and studied the behavior of this pandemic in the world as much as possible And by preparing a report to the Board of Directors while determining the scope of risk in the community of life-saving insurers of the entrepreneur from February 4, 2017 as the first feedback and reaction in the insurance industry Issuance of supplement by sending SMS, information and covered by the contract.

      In the end, regarding the profit from participation in the interests of the company's life insurers, Eslami said: "Entrepreneur Insurance, with sensitivity in the field of investment, did its best to achieve the minimum planned and pre-determined return for 99, which was 30%." According to the company's plans, at the first opportunity after extracting the profit and loss statements, the final profit will be announced and paid last year to the account of the life-insured insurers.