INGO ARMENIA INSURANCE COMPANY INVOLVES REGIONAL MASS MEDIA IN AGENTS’ NETWORK

ArmInfo
2009-05-25 16:43:00

ArmInfo. "One of the key tasks of the Central Bank of Armenia
is establishment of stable insurance sector, in this connection
intensive and extensive expansion of the agents’ network is expected",-
Representative of the Central Bank of Armenia (CBA) Hayk Sargsyan
said during the ceremony of awarding CBA certificates to 10 new
agents of INGO Armenia insurance company. He pointed out that big
hope is connected with the companies which started new intellectual
business in the insurance sector, which ensures the highest growth
rate today. According to A.Sargsyan, the regulator will expect
the newly-qualified insurance agents to observe two main rules:
transparent cooperation with insurance companies and ensuring the
company’s interests without damaging the clients’ interests.

The number of the company’s agents has already reached 23, Head of
the agents’ network Khachik Sahakyan said and added that the regional
coverage will attain a maximum by the end of 2009. "Nowadays our
policies are available in all regions of Armenia, except Vayots Dzor
and Tavush, the agents’ presence in Tavush will be ensured by the end
of summer, in Vayots Dzor – by the end of 2009. According to Sahakyan,
the forthcoming expansion of the agents’ network will be ensured also
by means of agreement with mass media, 7 of them are already working
in the agents’ structure of the company.

Head of the internal audit department of INGO Armenia Samvel Markaryan
said, the company’s agents will ensure an aggregate inflow of premiums
worth 100 mln AMD in 2010. To note, INGO-Armenia is an apparent leader
in the market.

In I qt 2009 the company collected premiums worth 317 mln AMD and
held the first position in the market.

According to the experts of ArmInfo financial analysis service,
involvement of mass media in the insurance agents’ activity is an
innovative solution in the insurance world. All active insurance
companies are in Yerevan, the regions are less involved in the
insurance sector due to both lack of information coverage and branch
networks.

By having concluded agreements with regional TV companies, INGO Armenia
actually ensured its presence in the regions and information campaign,
which will have a favorable effect on INGO Armenia’s own sales and
formation of insurance demand in the regions in general.

Director of INGO Armenia Levon Altunyan said that large-scale expansion
of the agents’ network is held in accordance with the strategic
development plan with due regard for forthcoming introduction of the
mandatory automobile liability insurance OSAGO in Armenia, the draft
law on which has passed the first reading in Armenian parliament.