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"The Priority of Unico Insurance is Sustainable Growth.”
For 35 years, Unico Sigorta, powered by the appreciation of its roots, continues its work with strength. In its new age, it maintains stable and profitable growth.
Unico Sigorta, starting its insurance activities in Turkey under the name Commercial Union Sigorta A.Ş. (CU) in 1988, operates as one of the industry's most significant players with around 240 employees and 1,100 agencies and brokers in 8 regions.
Unico Sigorta, originally known as Commercial Union at that time, issued its first policy for fire insurance in 1988 and today provides services to customers in non-life/elementary branches. In 2005, with the acquisition of shares from Aviva International Holdings Limited, one of the largest insurance companies in the United Kingdom, the company name changed to 'Aviva Sigorta A.Ş.' In 2015, following the acquisition of company shares by Kibele B.V., the name was changed to 'Unico Sigorta.’ Today, Unico Sigorta continues its journey with 80% ownership by Heksagon Mühendislik ve Tasarım A.Ş. and 20% ownership by Kibele B.V.
Unico Sigorta, in the aftermath of the pandemic, directed its focus towards understanding and developing services that would make its customers feel more secure amidst the increasing economic and social changes and uncertainties both globally and in Turkey.
The company is implementing its 3-year business plan focused on 'Change, Transformation, and Development' in 2022 to swiftly provide the most suitable solutions to evolving customer needs, while continuing its research and development efforts and investments.
As of the end of September 2023, Unico Sigorta has achieved a net profit of 683,157,342 TL, and its equity has reached 1,517,763,193 TL. The profit for the first 9 months has increased by 101% compared to the year-end profit in December 2022. The end of September 2023 equity profitability is 45%, with a 9-month equity growth rate of 85%.
“When we look at the end-of-September loss ratio, it is noteworthy that there is a loss ratio contributing to profitability at around 75% across all branches," pointed out Unico Sigorta General Manager Ender Güzeler, continuing his speech as follows: “As Unico Sigorta, with our 35 years of experience, skilled human resources, and strong business partners, we are working harder every day to add value to the sector. The financial results we announced as of September are also an indicator of this stability.”
For better service to the customer, Research and Development (R&D) is essential...
In 2024, emphasizing their commitment to improvement in both products and services as well as pricing, Güzeler continued to explain their prioritization of research and development efforts. He said, “This year, with the launch of our industry-first Comprehensive Motor Insurance product, we offer our customers all comprehensive main and additional coverage at competitive prices. With additional coverage such as mechanical breakdown, freezing, wear and tear, income loss, specifically provided for this product, we protect our customers against all potential risks that may occur. Additionally, we offer our individual customers a complimentary tire storage service, extended to our comprehensive insurance customers as well. In addition, with our UniKobi product, we provide coverage for small and medium-sized enterprises (SMEs) in nearly 70 different business areas, offering main coverage for events such as earthquakes, fires, and theft, with insurance amounts up to 25 million TL. Moreover, we offer various additional coverages like income loss, electronic devices, machinery breakdown, loss of profit, loss of rent, third-party liability, which can be customized according to the needs of our policyholders. Furthermore, when issuing this policy, we provide quick service to our customers without requesting risk inspection, questionnaire, or photos based on their preferences.
In addition, Unico Sigorta has established the Customer Excellence Center within our company to support our customer-centric approach. The goal of this unit is to understand and respect customers' expectations and priorities, offering suitable solutions to progress into the future with a hopeful and sustainable approach.
Unico Sigorta General Manager Ender Güzeler also touched upon the fact that earthquakes and similar natural disasters inevitably lead to very sad consequences for all of us. He said, “The most important lesson we learned as Unico Sigorta is to work towards the rapid and effective resolution of the impacts following an earthquake. In this context, we initiated an R&D-based project in collaboration with the Department of Geology and Geophysics at Kocaeli University. This project, which is a first of its kind in Turkey, will conduct a comprehensive study evaluating various factors such as the ground effect causing damage, distance to fault lines, topographic slope, local geological features, groundwater level, and earthquake acceleration.”
Unico Sigorta General Manager Ender Güzeler, emphasizing that keeping all employees and business partners at the center of their work is a priority, said, “However, it is only possible to be the insurance of this homeland with such an approach.”
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