"The average annual growth of TBC insurance during the last 4 years was 28-30%. The main results of the recent period are that we are the unconditional leaders of the retail insurance at the end of the year. The number of beneficiaries in TBC insurance is 3-fold higher and a similar increase is planned for next year as well, "Paata Ghadzadze, General Director of TBC Insurance told TV-program Business Morning.
As Ghadzadze explained, the company had three types of challenges in 2020 due to the pandemic.
"The first was transformation of the system and bringing employees on the remote mode, which did not turn out easy.
Nevertheless, in a month and a half, both the bank and the insurance company made a systematic adjustment. The second challenge was the inconvenience in the process of selling insurance policies, we solved it in a week.
And the third challenge was the compensation process. We have 67.8% of paid policies with high customer engagement.
Two directions will be important in TBC insurance, the first is new life insurance products, and the second will be the digitalization process," - explained the General Director of TBC Insurance.
