Normalization Starts in Vehicle Insurance

Normalization Starts in Vehicle Insurance
Normalization Starts in Vehicle Insurance

Expressing that the return to normal in the motor own damage branch started with the period of controlled social life that started in June, Aksigorta General Manager Uğur Gülen underlined that the increase in vehicle sales as a result of the decrease in the interest rates applied by the banks in vehicle loans, positively affected the motor own damage branch.


The automotive sector, as in many other industries, was negatively affected by the moving home and trade coming to a halt due to the COVID-19 outbreak. With the shrinkage in the automotive sector, it indirectly reflected on the figures in the insurance sector in the motor own damage branch. Especially in the months of March, April and May, when the pandemic was intense, the decline in both new policy sales and renewals drew attention in the motor own damage branch.

The decrease in the taxi has reached 72%

Drawing attention to the biggest change created by the epidemic in the compensation payments, Aksigorta General Manager Uğur Gülen said, “The compensation payments, which were 1 billion 371 million TL in the first three months of the year, decreased by 37,8 percent in the second quarter of the year and reached 852.6 million TL. The number of paid files decreased by 46,7 percent from 394 thousand 91 to 210 thousand 43. With the moving of working life home, especially in April and May, when cars stay in the parking areas, the compensation paid for damage decreased by 42,8 percent from 958.6 million lira to 548.8 million lira. Compensation payments fell by 31,9 percent in trucks, 11,4 percent in trucks, 15,8 percent in trucks, 55 percent in minibuses, 25,2 percent in trailers, and 54,5 percent in small buses. In the taxi, the decrease reached 72 percent. ''

Interest rate cut positively reflected on insurance

Stating that with the transition to a controlled social life, there has been a normalization in the motor own damage branch, Aksigorta General Manager Uğur Gülen said, “Increasing vehicle sales as a result of the significant reduction in the interest rates applied by banks in vehicle loans during this period created a splash effect in the insurance sector. ''



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