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Profitability vers Consumer protection Presented by Mariusz W. Wichtowski President Managing Organisation of the International Motor Insurance Card System.

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Presentation on theme: "Profitability vers Consumer protection Presented by Mariusz W. Wichtowski President Managing Organisation of the International Motor Insurance Card System."— Presentation transcript:

1 Profitability vers Consumer protection Presented by Mariusz W. Wichtowski President Managing Organisation of the International Motor Insurance Card System Under the aegis of the United Nations COUNCIL OF BUREAUX

2 Is there any contradiction? ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX

3 Conflicted bodies ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Customers Insurance markets

4 Customers ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Insured persons Victims

5 Insurance markets ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Insurers National Bureaux Guaranty Funds

6 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Origin of MTPL Beginning of XX century Soon compulsory Protection

7 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Population of Europe750 million N o of vehilcles360 million Number of accidentsmillions/year

8 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Insurance Profit vers Protection

9 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Profit welcomed

10 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Risk factors External Internal

11 Economical crisis Not predictable policy on the national level Low level of the supervision Jurisprudence ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX External risks

12 Price war High operation’s costs High commissions Bad organization Lack of experience Short term plans ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Internal risks

13 Who has influence ? ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Internal risks

14 Uninsured driving Fraud ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Accumulative risks

15 High level over 1 billion € claims/year Serious problems on particular markets ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Uninsured driving

16 Less premium Impact on financial stability Negative psychological impact Who is the final payer? ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Uninsured driving

17 Value of the costs Estimation: 10-15 % of claims paid Who is the final payer? ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Fraud

18 Direct impact on the profitability ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Uninsured driving and Fraud

19 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Where is the consumer?

20 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org COUNCIL OF BUREAUX Where is the profit?

21 ″We act for the protection of cross-border road traffic victims” 166 Avenue Louise B-1050 Brussels, Belgium www.cobx.org Thank you for your kind attention COUNCIL OF BUREAUX

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