Today I participated in all'Insurance Day at the Palazzo Clerici in Milan, where it will probably be the only building in Milan, where he talked about insurance and non-banks. (see Alessandro Profumo's resignation last night).
The title of the conference was "Innovations in support of the insurance system for citizens and businesses", for this site I will focus on citizens (and their families, real social structures supporting the Italian economic system).
Basically it was a day of reflection on insurance and their role to meet the needs of families.
It has all the top experts in the industry, in the first instance was made a search for Accenture, Milano Finanza partner in organizing the conference, Italian insurance market, now showing a record growth in 2009/2010 collection of insurance premiums, mainly in the life insurance business.
But the report number policyholders / insured citizens is deficient; Simply put a few people make sure: in our country there is the problem of underinsurance.
A few bills on the house
Few health insurance policies
Low adherence to pension funds
A few life insurance policies to channel the savings of citizens, that has fallen but is still an asset of households
All this because of the lack of involvement of the insurance system in the national socio-economic context, much more present in other European countries.
It follows, therefore, the need for the creation of a partnership between the insurance, institutions and citizens.
Then it was the turn of the intervention of a representative insurance industry has warned that the need, for the insurance industry, to prepare for the existence of new European rules on Insurance. He also highlighted the need for greater protection of the insured to be divided into two: with regard to auto insurance and more transparency in dealings with the insured. Finally, he informed the proper use of budgeted for insurance liability auto insurance industry from corporate site.
Then came the President Ania, from which comes the strong reminder that insurance is necessary for the country's economic recovery. He added that it is essential to a renewed welfare system in which insurance companies can play an important role, continuously strengthening the cooperation between public and private, listing the driver the most delicate and obligations:
Longer life
The problems of the third and fourth age
The delayed entry, in terms of age, the world of work
Low female employment
He finished by claiming that a widely used insurance may be the right way to reach a welfare system more equitable and sustainable.
Last speech that he anticipated that the Authority's representative, as to be almost at the end of the inquiry report insurance / public, anticipating that a subject of investigation is the increase in insurance premiums in the insurance liability auto insurance combined with the reluctance to change company, stating that compared to other European countries, only 8% is likely to change insurers to seek more favorable conditions. Another topic studied is the riskiness of the market showing that there is an asymmetry of information between company and insured (hoping for a better balance between the parties).
In closing the meeting, round table where representatives of the major insurance companies operating on the Italian market, Companies that are presented with their business models (new distribution channels, fusion of unit, new products).
Alex Gaetani
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