Bull Ins Express pays damages to 250 leva assurance Kasko

Published by crashbg

May 7, 2008

Insurance company Bul Ins "enter so-called system" fast track "for processing and calculating benefits under the insurance helmet. Current amount of damages paid Express is 250 leva as a project to increase this amount to 500 leva. The period of handling this type of injury is 48 hours and in some cases the customer leaves your office with compensation. Thus Bul Ins become the fastest paying insurance company in Bulgaria. Damage is handled through software that shortens the time for processing and payment of benefits. Such software is currently being introduced and insurance which in turn will shorten the time for issuing policy and will reduce tensions and useless waiting customers at the offices of the insurance company.

Here is the interview with Petrozar Petkov / director with the insurance company Bul Ins / given to insurance.bg

petrozar_petkov Petrozar Petkov began his career in 1975 in Bulstrad. There are over 33 years experience in the industry, having held various senior positions, executive director of an insurance company "Forest", Deputy CEO of Allianz 'for about 5 years, executive director of BAEZ. Petkov is the third Bulgarian (after Jordan and Genchev Simeon Simeonov) specialization of London insurance market in 1979 There are nearly 9 years experience as foreign trade director of the Tehnoeksport. Over the past 5 years headed the insurance broker "Shenker, specializing in transport and cargo insurance. Since the beginning of March this year Petrozar Petkov is director of the branch "mountain" of the Telecommunications Act "Bull ins AD.

Mr. Petkov, the news about you is that after a break again return to work in insurance. What is new, however, about the company, which already works?
Although the final results of the market has not yet been published, according to data we have, "Bull ins" ranks fourth in premium income for 2007 collected by the company's gross premiums last year were 146.57 million euro . 125014 in net for 2006 This is over 17 percent growth. But hold to underline that "Bull ins" is the company that on the road business, insurance against Kasko, insurance liabilities, green card, etc., gives the biggest security of the Bulgarian customer. Reason is that what is done in "Bull ins" in the liquidation of damage so far is not in any insurance company. The system introduced by early 2008, allows solving the damage in an accelerated procedure (called. "Fast track")-to 48 hours at lower amounts. For example, a customer traveling on the sea and one gas station to Pazardzhik chupi his turn signal. Insured may go to the nearest branch of Bull ins, which can bring a claim. If it's a similar injury, the client receives compensation in cash and in a place with no waiting. At the time limit for payment that is 250 leva, but will be raised to 500 leva There is a "fast track" view, calculation and payment of damages.
Others who offer their clients is called. "High appraisal for cars valued at over 7 thousand euro currently issue vazlagatelno letter, which the client goes to repair the damaged car. If the official service (including labor and time) it will cost 800 euro for example, an insurance inspector can offer the customer 700 euro to be paid to him immediately. As type service currently works only in "Bull ins, such damages are decided within 5 days. Others try to solve in time saved in the Code of insurance - between 10 and 15 days.

What will you take for the future development of the company?
Work towards full customer reversal, as market competition is very acute. We know that product to sell, quality is actually speaking, we pay very fairly and accurately. For information, in 2007 we pay damages of over 63 million euro only "Avtokasko" in premium income 125 million euro That means 50 percent quota shtetimost! So damage has not paid any insurance company from the forehead.
To introduce a computerized system not only in liquidation, but also in insurance. This will allow the issue of policy within 5 minutes and will save customers waiting and formalities. By the end of the year this system will be extended to other classes of work - on property, cargo, accident, general liability, etc. The new system, among other things, is a way to reduce insurance fraud as it reported recurrence of the injury. After its introduction in liquidation attempts to insurance fraud fell sharply.

How things stand with civil liability motorists to you?
We strive to accrue the necessary reserve because it is business that is carried in 5 years time. But I think we need supervision, based on statistical data and information they provide, to analysis and fix minimum rates in civil liability. In "Bull ins" know very well how to move this business and what are the consequences, so try to be optimal in terms of responsibilities and risks. At the same time premium we collect, should be sufficient to cover these risks, allocation of any reserves for-profit in the range of 1 percent to 5 percent. At the time shtetimostta our civil liability is low - between 40 percent and 44 percent. However, we expect this percentage to increase as active insurance offer of 2 onwards, ie damage has yet to begin to arrive.

Portfolio of "Bull ins" is composed mainly of motor insurance. I will set the development and other business except road?
Over 87 percent of the portfolio is "Kasko, a total of civil liability rate jumps to 91 percent. In any case, however, will endeavor to develop and other business - even now do it successfully. Talk about assets, liabilities, cargo, the liability of carriers, specific insurance - responsibilities of employers, travel insurance, financial insurance, general insurance, etc. Civil For all "Bull ins has a license. With regret, however, should note that the car business is likely to prevail in the portfolio of most insurers in the next 10 years.
Furthermore, with other classes of our quota shtetimost is extremely low, between 5 percent and 2 percent. This means that all our remaining business is so profitable that you have to make a step forward - to be more aggressive and increase its share. We will attempt to develop the insurance of katastrofichni risks. And we now offer very good product - a price policies include 15 € earthquake risk and limit the compensation of 30 BGN Real speaking, this type of insurance are not yet very popular in Bulgaria and distorted thinking, Bulgarians will favor car to rest their property, continues to carry money.

What motivated you to set so many attitudes to the customer?
If a person is disappointing from an office once he no longer goes to him. The most important thing is not so much the amount will be paid as compensation to a customer relationship, speed of processing and payment of damage. In order to serve our customers more quickly, "Bull ins" opened the second liquidation center in Sofia - on Slivnitsa Blvd. It serve cars worth up to 7 thousand euro and some of our corporate clients. Now considering opening and third center.
Others, which will be marketed under the product is a "bonus-malus in motor insurance. It will enable users who are our clients from 2-3 years and have no damage immediately receive a bonus. For the moment like attending to some extent in different companies, but we will offer it as standard solution for all customers.
We emphasize that we are absolutely loyal to the products - our policy on Kasko, unlike other companies bear 100 percent of the risks in the real sense of Casco-insurance. Furthermore, these policies had no Own. This has only property insurance, between 2 and 5 percent for an earthquake.
For convenience we provide our customers the opportunity to be able to download from the Web form of notification of damage. We have Call Center, which at any time may be requested information on the movement of an injury, for how far up its processing. The same information customers can receive and e-mail.
In large repair shops that have contracts to service our clients require the creation of a separate track on which the priority is serving light damage. Not for a turn signal or a scratch to wait for months!