The average payment time for auto repairs continues to be fast, reaching 5 days
- On average, in Q1 2022, Euroins paid claims in just 5 days from the submission of the payment request, in cases where there were no victims. In comparison, in Q4 2021, the average compensation payment time was 6.8 days, a significant improvement over 2021.
- The company achieved significant growth in the first part of the year for general insurance as well. Euroins recorded three times more policy sales in 2022 compared to 2021.
Bucharest, May 17, 2022– Euroins România Asigurare-Reasigurare SA, the most important player in the insurance industry in Romania, announces new positive results regarding the time needed to process claims and the prompt payment of compensation in cases where no human victims are registered.
On average, in Q1 2022, Euroins paid claims in just 5 days, 25% faster than payments in the latter part of 2021.
This indicator has steadily improved over the past year.
For example, in Q4 2021, Euroins Romania officially reported to the Financial Supervisory Authority that it paid claims, on average, in 6.8 days.
The current results show a significant evolution compared to last year.
“The fact that we have continued to constantly improve our procedures and maintain good relations with all the car services with whom we have contractual relations – a rapidly growing collaboration at national level, is proof that we treat the commitments we have made with responsibility , in the strategy we apply at Euroins Romania. We have the vision of a sustainable and strong business, diversified in new insurance products and updated to current needs, products that we hope will bring insurance closer to the hearts of Romanians”, said Tanja Blatnik, CEO of Euroins Romania.
Euroins Romania also announces a significant increase in the volume of non-RCA insurance.
270% is the average advance in 2022 compared to 2021, with a volume of gross premiums subscribed of almost 70 million lei in the first four months.
More and more Romanians have chosen Euroins for travel insurance and health insurance. Among the most popular and often necessary products, which are added to RCA policies, are Roadside Assistance and the CASCO Start product.
The biggest growth is in the travel insurance and roadside assistance segment, where we see in Q1 2022 – a 10x advance in policies compared to Q1 2021.
The CASCO Start product offered by Euroins had an 800% higher demand, and in the health insurance segment, sales doubled in the first part of 2022 compared to the same period last year.
“We have assumed that in the coming period we will continue the process of streamlining all procedures and we are determined to follow the growth strategy of the other important insurance products that we offer to Romanians, such as health insurance, accident insurance, property insurance and civil liability, or those of travel. We are really satisfied with the development of Euroins Romania and we are grateful to our sales network and partner brokers, who constantly offer our products to customers”, said Tanja Blatnik, CEO of Euroins Romania.
The performance of Euroins Romania, in the first part of this year, comes as a result of the changes started in 2021, along with the growth of the team of experts, the digitalization of the company and the improvement of the customer experience in all the services we offer.
About Euroins Insurance Group (EIG)
Euroins Insurance Group AD (EIG) is one of the most important insurance groups operating in Central, Eastern and South-Eastern Europe. Euroins Insurance Group offers a full range of insurance products, serves more than 4 million customers in 14 countries and has more than 3,000 employees. EIG is part of Eurohold Bulgaria AD, a large financial and energy group operating in the region and active in electricity distribution, supply and trading, insurance, leasing, car sales, investment services and asset management. Eurohold is listed on the Bulgarian and Warsaw Stock Exchanges. In 2021, Eurohold acquired through its unit Eastern European Electric Company the subsidiaries of the Czech energy company CEZ Group in Bulgaria, which have more than 3.
