Union of Chambers and Commodity Exchanges of Turkey

We can't grow the economy and trade without insurance.

22.08.2019 / Ankara

The Congress of Insurance Agents was hosted by the Union of Chambers and Commodity Exchanges of Turkey (TOBB). TOBB President M. Rifat Hisarcıklıoğlu, in his speech at the close of the congress, stressed that without the concept of insurance, the economy and its trade have no chance of growth. Hisarcıklıoğlu said: "Insurance is not a luxury but a mandatory requirement.”​

The Congress of Insurance Agents, which brings together the insurance agents, which is the most important distribution channel of the insurance sector, was held at TOBB Twin Towers. Provincial delegates of insurance agencies, representatives of sectoral institutions and organizations, members of the relevant professional committee of chambers of commerce and industry, representatives of professional non-governmental organizations and other sector representatives attended the Congress held for the first time.


TOBB President M. Rifat Hisarcıklıoğlu addressed the participants in the last part of the Congress. Focusing on the importance and necessity of the insurance sector, Hisarcıklıoğlu said: “The insurance sector would not be without insurance companies and insurance companies would not be without agents.” Explaining TOBB SAİK's work and achievements, Hisarcıklıoğlu stated that many firsts were achieved through the executive committee and that it was a role model in the provision of professional discipline. The president of TOBB explained that the foundation of the chamber system is based on the ahi-order and guild system in Anatolian culture and said that the elements of the system, which include accepting those who provide professional competence to the profession, record keeping, training and discipline in order to provide punishment when necessary, were also brought to the insurance sector.


- “Let's grow insurance by reducing risk”


Expressing that the economy cannot grow without insurance, Hisarcıklıoğlu said: “in the modern world, the way to grow the economy and increase trade is insurance. You can't grow the economy without insurance. Remember, you have a long way to go. The future of this profession will be brighter tomorrow. If we want to grow the economy, we need to replicate insurance by reducing risk.  This is a mandatory need. We need to raise awareness of our people and the business community. That's why I always say: promote credit insurance everywhere. Just don't get stuck on traffic insurance. See also different areas of the spectrum. Progress happens with differences.”


TOBB President M. Rifat Hisarcıklıoğlu, who gave a message of unity and togetherness in his speech, said: “If you do this, you will be the winner. Remember, there is mercy and blessings in unity and torment in separation.”

Hisarcıklıoğlu added that he is ready to help insurance agents in all their troubles.


- Other speakers


Hakan Ülken, a member of the board of Directors of TOBB, who spoke at the opening section of the Congress in the morning, stated that they had made significant progress in the development of the sector with the Executive Committee of Insurance Agencies (SAİK). He said: “Important decisions were made 12 years ago by regulations in the Insurance Law. We have said for years that the insurance system should be separated from the banking system. We stated the necessity of the Insurance Regulation and Supervision Board. These days, we are at the beginning of a revolutionary process. Work has been started to bring the board to life. The insurance sector will now have an independent board.”


TOBB SAİK Chairman Levent Korkut also said that the insurance companies had made attempts to end the application of different prices between distribution channels.


Reminding that the use of insurance policy as a promotional tool was banned a week ago, Korkut said: "We continue to fight against pirate agents, illegal structures, those who try to steal our bread. We have our agencies organized in the form of branches under strict control. We are constantly monitoring branch activities. We're making the necessary interventions."


Turkish Insurance Union Secretary-General Mehmet Akif Eroğlu mentioned the importance of the sector for the country's economy and said that work should be done to make more difference.


Eroğlu said they paid 35 billion Turkish liras in compensation last year and the sector turnover was 190 billion liras. He said: “Our economy is ranked 17th in the world, but we are ranked 39th. The size of the insurance sector in the European Union is 62 percent of total banking and assets, while we only have 5 percent. If we did this rate of 25 percent, we would provide a great resource to the economy. If we grow, these financial fluctuations in the country, all these pressures on the foreign exchange and the stock market will be reduced.”


Participants also visited Anıtkabir as part of the Congress, where current issues related to the agency profession will be evaluated.

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