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Allianz Annual Report 2012

Allianz Group6 The Turkish population is younger than the European average. Half the country’s nearly 75 million people are under the age of 30. “Of course young people first of all want to enjoy their new prosperity,” Gül explains from practical experience. But many, he says, understood long ago that they have to plan for old age, and think about the potential consequences of a serious illness. “First someone will take out liability insurance and comprehensive coverage for their car. If they are satisfied with that, they come back to us for health insurance or are interested in providing for retirement. That way we can pass on the advantages we gain from the synergies within Allianz’s insurance portfolio.” Allianz’s sound, solvent reputation is a crucial advantage when it comes to life insurance. That’s because many people in Turkey still have vivid memories of how inflation rose to more than 100 percent in the 1990s. Which is why people there will tie themselves to an insurance company only if they really trust it. To keep his clients’ trust over the long term, Gül also has to rely on highly capable employees. His business stands and falls with his staff’s pro- fessional qualifications and the excellent level of service they provide. “That’s one of the biggest challenges our industry faces here in Turkey these days. There’s a shortage of qualified personnel that would enable us to mine a bigger share of the growing insurance market.” So for some time now, Gül has taken to training new employees himself. “Anybody who starts work with us gets training from me for a year. Then they attend continuing training events held by Allianz.” The results speak for themselves. That’s the reason why Gül’s agency is one of the most successful in Turkey. Only a well-qualified field sales team will enable Alp Gül to grow his business faster than the insurance market itself. Turkey’s economic upswing will slow down but is likely to continue, and insurance will remain a product with high growth potential there. “Allianz is an ideal partner for us,” says Gül. “It offers one of the largest insurance port­ folios which means we’ll be able to keep satisfying our clients’ rising expectations in the future.” widest distribution penetration in the turkish insurance MARKET More than 2,000agencies almost 350,000new clients in 2012 Acquired nearly 600,000new insurance contracts and More than1,200distribution partner outlets