Profitability vers Consumer protection

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CONSEIL DES BUREAUX. COUNCIL OF BUREAUX. 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. CONSEIL DES BUREAUX. - PowerPoint PPT Presentation

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ProfitabilityversConsumer protection

Presented byMariusz W. WichtowskiPresident

Managing Organisation of the International Motor Insurance Card SystemUnder the aegis of the United Nations

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Is there any contradiction?

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Conflicted bodies

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

• Customers

• Insurance markets

Customers

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

• Insured persons

• Victims

Insurance markets

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

• Insurers

• National Bureaux

• Guaranty Funds

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXOrigin of MTPL

• Beginning of XX century• Soon compulsory• Protection

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

• Population of Europe 750 million• No of vehilcles 360 million• Number of accidents

millions/year

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXInsurance

• Profit vers

• Protection

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Profit welcomed

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Risk factors

• External• Internal

• 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 LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXExternal risks

• 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 LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXInternal risks

Who has influence ?

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXInternal risks

• Uninsured driving• Fraud

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXAccumulative

risks

• High levelover 1 billion € claims/year

• Serious problems on particular markets

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXUninsured

driving

• 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 LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXUninsured

driving

• 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 LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUXFraud

Direct impact on the profitability

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Uninsured driving and Fraud

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Where is the consumer?

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX

Where is the profit?

″We act for the protection of cross-border road traffic

victims”

166 Avenue LouiseB-1050 Brussels, Belgiumwww.cobx.org

Thank you for your kind attention

CONSEIL DES BUREAUXCOUNCIL OF BUREAUX