“In Romania we plan to invest around €4million over the next five years in the development of this channel”, said the deputy president of Uniqa Insurances, Alfred Vlcek.
The insurer expects gross premiums written to total 85 million lei (around €20 mln), via 200 operators (UNIQAgents) by the end of 2012. According to company’s estimates, sales are likely to hover near 0.5 million lei by year-end or 6 mln lei by the end of 2010. In 2011, the company projects 45mln lei in GPW and 100 agents.
The new sales channel has certain similarities with the concept of franchise. It offers to employees and experienced insurance brokers the opportunity of developing own business, by becoming exclusive Uniqa partners.
“The successful cases in Austria shows that an exclusive Uniqa partner can reach good sales and profit”, said the country director of Uniqa Insurances partner network, Florin Calin.
The new concept was launched in 1999 in Austria and proved to be very successful, feeding 40% to the company’s 2008 GPW volume.
Romania is the first emerging country where Uniqa will carry out the project.
Uniqa’s exclusive partners will enjoy full marketing and logistic support as well as assistance in staff training. The insurer will also cover all promotion, location, tech assistance and communication costs.
Apart from the opportunity of generating profit from a long-term personal and stable business, exclusive partners will also enjoy autonomy and independence in devising own business plan.
Uniqa operates in Romanian general insurance market via Uniqa Asigurari (formerly known as Unita) that has increased its quarterly profit 3.6-fold in Q1 this year up to 5.05 bln lei.
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