The structure of insurance sales in 2008

Non life insurance

– Agents

Non life insurance agencies gained in 2008 up to 42 percent of accumulated contributions through agents (individuals). It is worth noting that the dominance of agents a year ago was even more visible. Their share of sales exceeded 44 percent.

– Direct (phone and Internet)

As for direct sales, Poles have clearly got used to Internet as a form of insurance policy sales  – mainly in transport insurance. In 2007, thanks to this distribution channel, property insurers gathered almost 23 million PLN contributions. In 2008 it was already 52.5 million PLN. It should be added that despite that doubled growth, the Internet still has a minimal share in Poland, in terms of sales. Still it is far less popular than the phone. Sales via phone rose last year by one third and were nearly 350 mln PLN.

These figures do not include Axy and Liberty Direct insurance. If we take into account the performance of these two branches in 2008, the value of direct market in Poland is estimated at 544.26 million PLN. The PIU estimates (based on national reports of insurance companies) that about 15 percent of that amount are policies, purchased through the Internet, and 85 percent – by phone.

– Brokers

There has been, however not significant increase in Poland of importance of brokers in the structure of life insurance sales. Today, through brokers, insurance companies collect more than 2.4 billion PLN contributions, which means 11.8 percent of all collected contributions.

Life Insurance Market

Banks and other financial and credit institutions dominate as intermediaries on life insurance market. More than one third of individual policies and more than half of the group policies is sold through this channel. Due to the dynamic development of bancassurance in Poland in case of life insurance policies – agents (individuals) have lost importance.

Direct sales (Internet and telephone) on the life insurance market is still marginal. Brokerage services also have gained little popularity.