Local Turkey

Turkish insurance sector starts to a new era: Turkiye Sigorta Company

According to a statement from the Turkiye Sigorta Company; Ziraat Bank, Halkbank and Vakıfbank’s insurance and pension shareholdings are gathered under the roof of Turkey Wealth Fund; this structure is named as Turkiye Sigorta.

Turkiye Sigorta started its operations with the goal of sustainable leadership in production and becoming a global insurance company; Turkiye Sigorta will serve at 7 thousand 100 distribution points across the country.

Turkiye Sigorta undertook an important mission in reaching larger segments of insurance services in Turkey and in the continuity of stable growth after the union with the banks. The company started operations for non-banking financial sector to reach the world average as from September.

The strategy of the Turkiye Sigorta company includes moving the insurance sector in our country to a more effective point in global competition, using all distribution channels more effectively, developing special products for needs that have not been solved until today with an innovative approach, and contributing to a more dynamic structure of the sector by increasing the share of insurance in the economy.

‘’It will be one of Turkey’s leading organizations.’’

Zafer Sonmez, the general manager of Turkish Wealth Fund stated that the fund is founded to lead Turkey’s strategic and large-scale investments. Sonmez said:

‘’ Our purposes are, as stated in the ‘New Economy Plan’, to increase the penetration of the insurance industry, raise the share of non-banking financial sector, increase Turkey’s savings and establish a global leader insurance company; and our Wealth Fund is at an important turning point today.’’

Sonmez assured that Turkiye Sigorta Company will be one of the leading Turkish organizations.

Atilla Benli, the board chairman of Turkiye Sigorta emphasized that an understanding prioritizing customers, channels and employee experiences is the key to achieving our goals. Benli said:

‘’ We founded a structure with high digital competence whose all possible processes and functions are directed by artificial intelligence algorithms.

 We aim to be a leader in the insurance industry in basic insurance products; to be a pioneer in strategic products such as financial insurances, maintenance insurances, and foreign currency in Individual Pension System; to play a leading role in modular, telematics and innovative products where all the needs of the customers are covered under a single umbrella policy.’’

‘’We expect to make the biggest contribution to our country and economics.’’

Benli stated that Turkiye Sigorta and all it’s shareholders will work with all their might to bring the Turkish insurance and pension sector to the due position in the world by mobilizing the potentials. He said:

‘’ Hopefully we will accomplish all our objectives. I would like to thank the President, Ministry of Treasury and Finance, the valuable managers of Turkish Wealth Fund for enabling this project and never withholding their support by seeing the strategic importance and social benefits of insurance for the development of Turkey’s economy.’’

Benli emphasized that powerful synergy is created with the union of the state-owned institution that has expertise in different fields and the potential of customers complementing each other. Benli said:

‘’Turkiye Sigorta Company expects to make the biggest contribution to our country and economics via this synergy. I believe that our company will accelerate the improvement of the Turkish insurance sector. Our goal is to be a sustainable leader in production and profitability and to have activities also in abroad.’’

source: AA / translated by Bazaar Team

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