OREANDA-NEWS. December 15, 2011. The conference under the title “An Insurance Broker — the Main Unit of the Insurance Market” was held in Moscow. The event was organized by the Professional Insurance Brokers Association. The conference was dedicated to the current problems of insurance intermediary business in Russia, its development and control. Directors of the leading insurance brokers, representatives of the state government bodies, professional associations, and insurance experts took part in the event.

At the conference Vladimir Chernikov, Corporate Business Director of Ingosstrakh Insurance Company, made a report on “Cooperation with Insurance Intermediaries in corporate businesses.”

Dwelling on the major market problems, he mentioned the existing conflicts among the sales channels: agents, brokers, and sellers of the company; as well as the fact of pressurizing the insurers in order to get low rates and franchises.

According to Mr Chernikov, for the development of the insurance broker industry the following steps are to be taken: formation of a stable institution of professional insurance intermediaries, creation of brokers’ ratings, implementation of compulsory broker’s professional liability insurance, providing the high level of service for the policy holders, on the level of developed countries, protection of policy holders’ interests and widening the range of insurance types in the broker’s portfolio.

As Mr. Chernikov put it, comprehensive activities on promotion of corporate types of insurance, offering the maximum coverage, taking part in settlement of losses, and the reasoned choice of the insurer for the customers based on financial stability and reliability of the company are amongst the expectations of Ingosstrakh Insurance Company from cooperation with intermediaries.

He also claimed that Ingosstrakh Insurance Company is continually perfecting the system of cooperation with brokers. For instance, in 2011 a specialized office for cooperation with insurance intermediaries, a point of contact within the framework of corporate business, was established. The subdivision is aimed at successful collaboration between the intermediaries and the company. Ingosstrakh Insurance Company is actively attracting new brokers for cooperation on all business lines including regional. Mr. Chernikov noted that for intermediaries’ convenience the insurer is expanding the database on corporate business.