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Standard Insurance Georgia Launches a Special Offer in Auto Insurance, Expands on Retail Market

Published: August 6, 2012 | 11:38 am
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PR and Marketing Director of Standard Insurance Georgia: “It is the simplicity, reliability, convenient and innovatory conditions that make our company stand out.”

Insurance company Standard Insurance Georgia, official representative of Azeri Standard Insurance, is launching an unprecedented project in auto insurance with exclusive conditions. With the launch of the new product the company activates its retail expansion line.

In the frame of the new campaign, auto insurance is offered only for GEL 1 per day with the period of time chosen by the consumer and what is also important, with a flexible and a convenient payment system, by using a unique card code to pay the insurance premium. Innovative Auto Insurance by Standard Insurance Georgia is available at Goodwill hypermarket chain.

The COMMERCIAL TIMES interviewed Natia Gotsadze, PR and Marketing Director of Standard Insurance Georgia to get further details about the new project and future development perspectives of the company.

- Within the 10 years of successful operating history, Standard Insurance managed to build high standards of insurance service and cooperation on Azerbaijan Market. Now the company is expanding its business in Georgia. What are the advantages offered by Standard Insurance on the local market?

- I would say that we have developed a new strategy to operate on the Georgian market. It is the simplicity, reliability, convenient and innovatory conditions of the insurance company and the wide variety of products and services that we offer attracts our clients. Insurance business is developing rapidly in Georgia and innovators are the ones to prevail in the desire to be the first on the market. We believe that we are on the right track and with this strategy and motivation we can develop in the most appropriate terms.

- What is special about the new auto insurance product launches by Standard Insurance Georgia?

- Right now we have a new strategy and a new vision in our company. Along with many innovations in products and services, in August, we will be offering special offer in auto insurance, which will enable our customers to get auto insurance for only GEL 1 a day. Consumer chooses desired period of insurance and pays relatively. The special offer involves convenient terms for payment. First time in Georgia, the customer can pay through the OSMP machines by using a unique card code, instead of going to an office. Based on this, we believe that this offer will be successful and popular among the general public.

If you are willing to renew the policy, all you have to do is to use the unique code again. Only for GEL 1 per day you get the car insured against: road accidents, fire, explosion, natural disasters and malicious acts by third parties. Also, the insurance covers Motor Third Party Liability and will pay out  the compensation costs arising out from property damage or bodily injury/death sustained  by third parties.

Our agents will operate in Goodwill Hypermarket chain and inform clients about the flexible conditions of the insurance.

- What types of insurance products are demanded most at Standard Insurance Georgia?

- The most popular insurance product in Georgia is health insurance. However, it is evident that auto insurance and property insurance is gaining popularity and acknowledgement as well. So, insurance companies are now actively engaged in these specific insurance products, trying to offer more elaborate and efficient conditions.

- Is the company more targeted at individual insurance or corporate insurance line development?

- Until today, we had been mostly involved in corporate insurance. However, the newly-launched auto insurance is oriented on individual insurance and is absolutely adjusted to the needs of private persons. We are trying to have a balanced policy and strategy, spending the same amount of energy and resources on the development of both private and corporate insurance lines.

- What’s your view on the National Bank of Georgia’s regulation on open publishing of quarterly financial reports of insurance companies?

- We welcome this transparency policy, which is essential to develop a healthy environment in the country’s insurance sector. Standard Insurance Georgia supports the idea of publishing transparent financial reports. This information is placed on our website and any company that strives to be oriented on the close relations with its clientele is, in my opinion, obliged to provide financial reports.

-Standard Insurance Georgia is an official representative of Azeri Standard Insurance. How would you assess the local insurance market? What are the cons and pros compared to Azeri market?

- It is hard to judge and compare two markets specifically. Although, one thing is for sure, through the last years, demand and consumption of insurance products has increased immensely. During this period, significant rise in the number of insured people is noticeable. If we compare current statistics to the last year data, it is evident that the demand on insurance is rising, which is partly the result of the growing demand among the general public and also the policies and attitude of the government towards the insurance business in Georgia in general. Consequently, the insurance companies are now offering a wide range of services and products, such as liability insurance, financial risk insurance, auto insurance which further fosters the development of the insurance business in Georgia.

- In which countries does Standard Insurance operate besides Georgia?

- There are no representative offices in other countries besides Georgia. However, Standard Insurance collaborates with prominent reinsurers and brokers, which are relatively successful on the global market.

Insurance company Standard Insurance Georgia was founded by Standard Insurance, the leading largest Insurance Company on Azerbaijan Insurance Market, with capital Euros of 20m, 10 year of successful operating history and strong international partners.

Standard Insurance is the first private company in Azerbaijan which was registered in the Security List of Lloyds brokers by AON – a major broker of Lloyds, since the company met international criteria of compliance with world standards. Standard Insurance closely cooperates with the world’s largest reinsurers and brokers such as: ZURICH Insurance PLC, RSA Royal Sun Alliance, Hannover Re Group, Converium Insurance Uk, PartnerRe, ACE International Life; Unity Reinsurance Company, SCOR Global Risk Center, Polish Re, RSA Insurance and other companies. On Georgian Insurance Market Standard Insurance is represented by Insurance company Standard Insurance Georgia.










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