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DECEMBER 10TH, 2007 SOFIA

TURKISH CATASTROPHE INSURANCE POOL. TCIP. NATIONAL ROUND TABLE ON CATASTROPHIC RISK MANAGEMENT. DECEMBER 10TH, 2007 SOFIA. AGENDA. EARTHQUAKE AND TURKEY STRUCTURE OF TCIP MODEL MANAGER’S ROLE POLICY COVERAGE TARIFF SYSTEM FIGURES & STATISTICS KEY CHALLANGES STATISTICS ON PORTFOLIO.

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DECEMBER 10TH, 2007 SOFIA

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  1. TURKISH CATASTROPHE INSURANCE POOL TCIP NATIONAL ROUND TABLE ON CATASTROPHIC RISK MANAGEMENT DECEMBER 10TH, 2007 SOFIA

  2. AGENDA • EARTHQUAKE AND TURKEY • STRUCTURE OF TCIP MODEL • MANAGER’S ROLE • POLICY COVERAGE • TARIFF SYSTEM • FIGURES & STATISTICS • KEY CHALLANGES • STATISTICS ON PORTFOLIO

  3. SEISMIC HAZARD ZONES HIGH DENSITY OF INDUSTRY CENTER OF COMMERCE CAPITAL CITY TOURISM HOW EARTHUAQE IS IMPORTANT FOR TURKEY AGRICULTURAL PROJECTS

  4. HISTORY • THE DEVASTATING EARTHQUAKE IN MARMARA ON 17th AUGUST AND 12th NOVEMBER 1999 • AN INSURED LOSS OF AROUND USD 800.000.000 • AN ECONOMIC LOSS OF AROUND 6 BILLIONS OF USD • IN 20TH CENTURY 111 EARTHQUAKES ABOVE 5.0 RICHTER SCALE REGION PRODUCES ONE THIRD OF NATIONAL GDP

  5. WHY • HAD TURKISH INSURANCE INDUSTRY UNDER-PERFORMED IN 1999 • REACTIVE SOLUTIONS VERSUS PROACTIVE SOLUTIONS • SHORTAGE OF FUNDS IN IMMEDIATE NEED • ALLOCATON OF FUNDS TO THOSE IN NEED IS PROBLEMATIC • POLITICAL AND BUREAUCTRATIC CONSIDERATIONS MAY PREVAIL • GOVERNMENT PRIORITIES IS ON GETTING BACK TO ECONIMIC AND SOCIAL LIFE

  6. GOVERNMENT’S PRIORITIES • A COMPULSORY EARTHQUAKE INSURANCE SYSTEM FOR HOMEOWNERS • AFFORDABLE PRICE FOR EVERY HOMEOWNER • TRUE RISK TRANSFER MECHANISM • CLAIMS-PAYING CAPACITY TO LIMIT GOVERNMENT’S EXPOSURE • BUILD NATIONAL CATASTROPHES RESERVES BY TIME • IMPROVEMENT OF RISK CULTURE AND INSURANCE CONSCIOUSNESS IN PUBLIC • RELY ON DISTRIBUTION CHANNELS OF TURKISH INSURANCE INDUSTRY

  7. PUBLIC-PRIVATE PARTNERSHIP INSURER / REINSURER RISK TRANSFERRISK ASSESSMENTRISK MANAGEMENT SUPPORTCLAIMS MANAGEMENT TCIP INDIVIDUAL RISK MANAGEMENTBEHAVIOUR AUTHORITIES REGULATION AND SUPERVISION LEGAL FRAMEWORKRISK MANAGEMENT SUPPORTDISASTER MANAGEMENT

  8. STRUCTURE OF TCIP TREASURY GENERAL DIRECTORATE OF INSURANCE NO PUBLIC EMPLOYEE TAX EXEMPT TCIP BOARD OF DIRECTORS POOL MANAGER INSURANCE COMPANIES REINSURANCE COMPANIES CLAIM ADJUSTERS IT AND PR COMPANIES FUND MANAGMENT COMPANIES AGENCIES BROKERS BANK BRANCHES

  9. POOL MANAGER’S RESPONSIBILITIES • IT • SOFTWARE DEVELOPMENT • HARDWARE, NETWORK AND SYSTEM MANAGEMENT • CLAIM OPERATIONS • REINSURANCE • MARKETING & PR ACTIVITIES • FUND MANAGEMENT & ACCOUNTING • ALL DAILY OPERATIONS

  10. POOL MANAGER’S RESPONSIBILITIES • IMPROVING SERVICE QUALITY AND EFFICIENCY • ENABLING HIGH-TECH SOLUTIONS ON CLAIM MANAGEMENT • MAINTAINING EMERGENCY OPERATION PLANNING • YELLOW SCENARIO • BLUE SCENAIRO • RED SCENAIRO • ARANGING TRAINING PROGRAMS FOR CLAIM ADJUSTERS • ESTABLISHING EARTHQUAKE CLAIM DATABASE

  11. CALL CENTER CALL CENTER ACENTALAR COMPANIES / AGENTS INTERNET INTERNET INTERNET INTERNET LEASED LINE LEASED LINE LEASED LINE LEASED LINE DISASTER RECOVER CENTER - DASK Merkez FIREWALL FIREWALL FIREWALL FIREWALL WEB SERVER WEB SERVER WEB SERVER WEB SERVER WEB SERVER WEB SERVER DMZ DMZ DMZ DMZ WAN WAN WAN WAN J2EE APPLICATION J2EE APPLICATION J2EE APPLICATION S ERVER S ERVER S ERVER LDAP LDAP REPLICATION DATABASE DATABASE IT STRUCTURE ISTANBUL ANKARA

  12. TCIP POLICY COVER • COMPULSORY FOR HOUSEHOLD OWNER’S • ONLY RESIDENTIAL BUILDINGS • ONLY EARTHQUAKE RISK, NO FLOOD, WINDSTORM ETC • ONLY BUILDING COVERAGE, NO CONTENTS, BI, ETC • ONLY TCIP IS PROVIDING EARTHUQAKE COVER TO HOUSEHOLDS UP TO SI 110.000 YTL

  13. TARIFF STRUCTURE • THREE PARAMETERS • EARTHQUAKE RISK ZONE • CONSTRUCTION TYPE • M2 OF HOUSEHOLD • DEDUCTIBLE OF % 2 OF SI • MAXIMUM POLICY LIMIT IS 110.000 YTL

  14. BASIC FIGURES • TOTAL NO. OF POLICIES 2.612.261 • TOTAL COVERAGE 67.000.000.000 EURO • TOTAL ANNUAL PREMIUM 127.000.000 EURO • AVG. SUM INSURED 26.000 EURO • AVG. PREMIUM 50 EURO • GROWTH BY NUMBER OF POLICIES %1,55 • TOTAL NUMBER OF PAID CLAIM FILES 9.786 • TOTAL CLAIMS PAID (FROM 2000) 10.500.000 EURO

  15. CLAIM OPERATIONS • EMERGENCY ACTION PLAN HIGH VOLUME OF OPERATION COLLECTION AND DISTRIBUTION OF 2 BILLION USD

  16. CLAIM OPERATIONS • OBSTACLES IN CLAIM OPERATION • LIMITED NUMBER OF CLAIM AJUSTERS • LONG PERIOD OF TRAINING AND EDUCATION • LIMITED NUMBER OF TRAINING COURSES • NO PROMISE OF INCOME FOR ADJUSTERS • TO BE RAEDY FOR SERVICE IN UN-KNOWN TIME IN THE FUTURE SOCIAL RESPONSIBILTY AWARNESS IN PROFESSIONALS

  17. KEY CHALLENGES • PUBLIC AWARENESS • PENETRATION RATES • LEGAL FRAMEWORK • INSURANCE INDUSTRY’S COOPERATION AND SUPPORT • POLITICAL SUPPORT • CLAIMS PAYING CAPACITY AND REINSURANCE PLACEMENTS

  18. www.dask.gov.tr • ENGLISH VERSION OF THE WEB SITE IS UNDER-CONSTRUCTION

  19. REALIZED PROJECTION 5.000.000 4.150.000 3.400.000 2.800.000 2.554.709 2.417.176 2.427.840 2.127.980 2.089.569 2.022.470 2.450.000 2.200.000 2010 2001 2002 2003 2004 2005 2006 2007 2008 2009 NUMBER OF POLICIES ISSUED PORTFOLIO-POLICY NUMBER

  20. PORTFOLIO-POLICY NUMBER IN DETAIL

  21. PORTFOLIO-COMPOSITION DISTRIBUTION OF PORTFOLIO BY RISK ZONES DISTRIBUTION OF PORTFOLIO BY GEOGRAPHIC REGIONS

  22. PORTFOLIO-PENETRATION % 28,3 % 20,1 % 19,4 % 18,2 % 12,7 % 12,8 % 8,1 % 12,0 TÜRKİYE GENERAL PENETRATION RATES INSURED DWELLINGS TOTAL NO OF DWELLING

  23. TURKISH CATASTROPHE INSURANCE POOL TCIP NATIONAL ROUND TABLE ON CATASTROPHIC RISK MANAGEMENT DECEMBER 10TH, 2007 SOFIA

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