OSAGO TO CREATE THOUSANDS OF NEW JOBS IN ARMENIA

ArmInfo
2010-04-29 13:42:00

ArmInfo. Introduction of compulsory motor vehicle liability insurance
(OSAGO) in Armenia will triple the insurance market, Samvel Margaryan,
Head of Internal Audit at INGO ARMENIA Insurance Company, told
ArmInfo. He said that the market participants will face a serious
task of growing their human resources potential to serve the new
segment properly. Margaryan believes that the current skeleton staff
comprising over 300 employees will grow in number 50-60%. Part of the
agents directly engaged in sales of insurance policies will grow in
number 2-3 times and maybe ten times in future.

INGO ARMENIA Company says its agent net will be developed also
through involvement of agents – individuals, whose number will total
1.5 thousand people in late 2010. S. Margaryan thinks that the main
measures on human resources development are scheduled for Q3 2010.

"Local insurers will face serious constructive changes and introduction
of OSAGO will reveal their efficiency," he said. The bill on
introduction of compulsory motor vehicle liability insurance was
passed in the second reading in the Parliament of Armenia on Thursday.

It will probably come into effect in Jan 2011.

The insurance market of Armenia encompasses 10 companies. INGO ARMENIA
is the leader by majority of the key insurance indicators. "INGO
ARMENIA" is the legal member of "INGO" (International Network of
Guarantees and Obligations) Group, which includes such famous companies
as "Ingosstrakh" /Russia/, "SOFAG" /Germany/, "INGO NORD" /Finland/,
"Garant" /Austria/, "INGO UKRAINE" /Ukraine/, etc.