Doğa Insurance on Press > We should improve insurance business with participation insurance / Star Ekonomi Zeliha Saraç - Kahve Molası

How is going on insurance sector all over the world?
In general, from the time insurance appearance to today, economic developments and insurance developments are parallel to each other. How far a country’s economics improved that is the amount that how insurance sector improved. In developed countries, insurance rate is on 90 percent and even in some branches, it reaches hundred percent, when it comes to our country, this rate is a low ebb. In our country, fire insurances still on %20-25 while developed countries are over %90 and %95. In Islamic Countries, there are also some groups whom wants to get insured however they can not by the reason of religious sensibilities.  Even its economy has developed, in some Islamic countries the rate is still too low. Like in any case, it is highly important to improve consciousness and giving education. Economic conditions are also important as well as consciousness. It is required to receptivity, having commodities that can be insured and worth it. 

A Guard Assurance 

- Warren Buffett  ‘first save then spend’ Is this consciousness surely learned?

Insurance is not exactly a saving but it is a guard assurance. When you insure someone, people think that, “why I should see it as a saving, I pay that and during the 10 years nothing happed to me. My house didn’t robbed and why I do it, 1.000 lira per year is nor an extra saving. Nothing happened in this 10 years but maybe could be 10 years later. So, insurance pays you the 10 times, 20 times of what you paid.  We can consider it as guard assurance. 

- What is your improvement strategy? 

In 2014, February, we began to our activities just after we got licences. We have licences for entire branches. We have thoughts on going ahead life insurances and individual retirement. We planning that for after 2018. In this period, we are thinking in order to grow our company both in service and premium production fields. In 2014, we produced 26.5 million lira premium production. I mean, we grow 1.000 percentage. And in 2014, at the end of the last year, we reached our 7.5≠≠-8 lira capital to 60 millions approximately. And now, we have 85 million lira paid capital. We planning to increase it to over 100 millions. While doing premium production, you should strengthen you finance in order not to face with bigger troubles. In this sense, we check financial capabilities. Undersecretary of Treasury’ insurance audit commission’s auditing easily determine them and insurance sector’s navigations are really serious. 

- Do you have any idea on become public? 

Actually, we are a public company, we established as cooperative. Our primary purpose in here is make participation insurance better in a technic sense yet we are an open cooperative. Cooperatives don’t get involve in transactions except their partners but we are an open cooperative and we can held transactions out of partners. We can insure any one who wants to involve in insurance, as a cooperative, we can say that we become public, but in the next periods, we can give a thought regarding become public of course. 

-What is Turkey’ condition regarding the participation? 

Even they have developed economic conditions, in Islamic countries people don’t involve in insurance by the reason of religious sensibilities. In the age of our prophet, there were commercial activities and actually he created a system that resembled insurance. One of the most developed countries, London, when we look at Muslim countries, Malaysia is the most developed one. And the Bahrain is next. Because of these reasons, we established a cooperative in order to do it with a mutual understanding of insurance. It is the only reason of why we establish a cooperative. We can do insurance business as  a company as well. 
- What is your purpose on participation insurance?

We want to improved participation insurance with insurance business after all. Except compulsory insurances, the group has never insured. We began to insure them, the rate started to increase gradually. Of course it is not enough for now but it will grow. You know, also banks establish participation insurance companies too. In Turkey, this will developed. I think, in 2018, there will be 2 or 3 more companies. Participation insurance will increase well. 

Traffic Insurance Will Reduced 

 - What you thinking on Traffic Insurance? 
It’s been argued much. The only reason why it’s argued much is the price. But no one talking on what it includes. Companies try to tell. However, everyone has natural attitude. Why prices 600 lira this year, while they were 300 lira last year. It is right, there is a sudden increasing but it is not like that actually. Traffic insurance have never increased for long years. In fact, it reduced sometimes. There was a competition between companies which themselves created. It’s their faults. In insurance business, you can’t insure something you don’t know its risks. So, many thing without knowing their risks are insured and face with many damages that can not be predicted. While we accounting premiums we also measure them too. Now, we began to calculate them and face with the premium. Actually, the right thing is that, if the premium increased 10 years ago for 200 lira, today its price again will be same, maybe more. In this case, everyone were accept it.


What traffic, auto or other insurances included? The gist of the traffic insurance is that; it’s included the opponent. You might be think like my car is 10.000 lira and how it can be 2.000 lira insurance rate? It is not immeasurable according to the car’s price. It can be measured according to the damages that you caused against opponents. Your car is 10.000 lira, that’s okay, however, you can crash a car that priced as 200.000 lira. Also, the opponent might be dead. That’s all covered by traffic insurance. Directorate General Of Insurance worked on that both guarding the citizens and also maintain sustainability for companies. There are no more mediators. İndividuals can apply themselves. In companies, there is a communication began among the injured parties. Naturally, by the reason of there is no mediator, that will be reduced companies’ expenditures. 


Education Insurance I barely known. What is an education insurance?
Education insurance is a system that assures student’s educational life.  It is compulsory like when you buy a car, you can go without auto but you can’t do it without a traffic insurance. Education insurance should be compulsory.  We have many projects on it. We are also going to share these projects with Ministry Of National Education. The education insurance is perceived as it only included private schools, actually it includes state schools as well. We can see in our society. When something happened to parents or die, the student have to leave school and work. If we want a literate society we should guarantee education. As Doğa Insurance, earning money is not our priority. Our purpose is making contribution to education. This insurance not only cover educational life. It also meet the educational expenses in the case of something happened to parents. For instance, the kid fall in the school, immediately can go nearest hospital and education insurance also cover that. People can observe from Insured ones.