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A meeting of the Expert Council (EC) involving heads of regional branches (EC members) and the Management Board of TAS Insurance Group (TAS IG) was held at the Head Office of the company. The meeting was opened by Chairman of the Board TAS IG Dmytro Grytsuta. His report analyzed results of the operations of the company and its regional branches since the beginning of 2009, including revenues, loss payments, the insurance portfolio structure and administrative expenses. Dmytro Grytsuta specified that the Company employees had carried out a large scope of work to harmonize a ratio of administrative expenses to collected insurance premiums.
The meeting also covered other issues on the agenda: fulfillment of the anti-recession measures plan concerning the operations of regional branches of the Company under the conditions of a decreased flow of premiums and the increase of a total amount of loss payments; an order and status of loss settlement, procedures for indemnity payments, and the company’s policy on the settlement thereof; update of insurance products to market requirements and a technical support of their sales; a rate policy, and the commission scale; cooperation with banks in conditions of the change of accreditation requirements; analysis of staffing and employees incentives.
Then, heads of regional branches (EC members) had a meeting with the TAS IG shareholder Sergiy Tigipko. «We had the opportunity to discuss with the principal shareholder of the TAS IG all topical issues covered in the meeting of the Expert Council with the participation of Chairman of the Board. We considered measures that would enable us to maintain our business at the present time and expand it further. We talked about the implementation of anti-recession steps, staffing policy and loss settlement by our company», said Head of the Expert Council, Head of the South Regional Branch Svitlana Kosarevych after the meeting.
According to Svitlana Kosarevych, the discussion also covered a necessity for a further expansion of corporate sales and enhancement of the TAS IG insurance portfolio in general and in each specific regional branch.
Svitlana Kosarevych noted that the meeting participants discussed the development of an agency network by means of involving employees of other insurance companies which left the market due to the global depression or failed to provide the same scope of services as they had managed earlier. They also talked about the update of insurance products elaborated by TAS IG to market requirements under present conditions, in particular, the sales of not only standardized retail products, but also more flexible products that may provide for the adjustment of insurance terms and conditions taking into account customers’ demands.
Svitlana Kosarevych informed as follows: «We also discussed a new system of loss settlement. The system is scheduled to get launched in September this year. The implementation thereof will result in the settlement procedures to get significantly simplified. It is necessary to make activities of the settlement staff more efficient when a quantity of losses is increased, without expanding the staff of settlement experts. The policy of the TAS IG in this regard is unaffected: we used to pay, we pay and we will be paying to our clients, which will ensure their loyalty further on. In particular, this refers to clients who cooperated with us and acquired loss payments from our company».