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Şemsiye Magazine January 2016 - 19/01/2016

Şemsiye Magazine January 2016 - Aydın Satıcı Interview

Insurance Information and Monitoring Center (SBM) General Manager Aydın Satıcı stated that with the new telematics system, beneficiaries will now be introduced to the "pay as much as you use" model.

Insurance companies currently use parameters like age, gender and occupation for pricing insurance policies. But today, technology has introduced a new parameter for the insurance companies: telematics devices. Telematics devices which will be used for liability insurance policies and allow beneficiaries to pay only as much as they use will also reveal driving habits of beneficiaries and help insurance companies to distinguish between good and bad drivers.

The most important items in the 2016 agenda of Insurance Information and Monitoring Center (SBM) are telematics and Direct Reimbursement System. SBM General Manager Aydın Satıcı who stated that they've been working on these two projects stated that these new applications will bring many advantages both for the industry and the beneficiaries.

Data Collection to Start Soon

Satıcı stated that the data, which will help distinguish between good and bad drivers and will be collected by the telematics devices, will be gathered at SBM. Satıcı stated that they're working on the telematics model in full throttle and that these new applications will introduce many advantages both for the industry and beneficiaries. Satıcı also added that with the telematics devices to be installed on the vehicles, data on driving habits or weather or not the beneficiaries drive within the speed limits will be generated and stored. Satıcı​ indicated that all this data to be generated will be scored within SBM and stated that these scored data will be shared with the insurance companies. Satıcı said "And insurance companies will review that data and offer discounted prices to their qualifying beneficiaries".

Satıcı indicated that they've been working in collaboration with numerous companies specialized in telematics systems as well as three GSM companies that have projects in the area of the internet of objects and added that they will be directing the beneficiaries to accredited companies that sell telematics devices. Satıcı also added that data will start to be collected in 2016.

There may be weekly or monthly policies

Satıcı said, "Data generated should be meaningful", and stated that the correct address for that is the stage where liability insurance, comprehensive coverage and life insurance policies are generated. Satıcı who stated that with the data to be generated by telematics devices, beneficiaries will be able to get coverage at lower prices said that insurance companies will then be able to develop new products based on this flexibility. Satıcı stated that liability insurance is a social phenomenon and that every vehicle in traffic posed risks for third parties and said "If remove from the system, the claim paid in liability insurance category, there would be a chaos greater than terror in the country. Currently 16 million vehicles out of 19 million vehicles have coverage. Thus, liability insurance offers great benefits. But if a driver is not using his vehicle, telematics devices will reveal that. And the companies will be able to offer weekly or monthly products after a change in the related legislation".

Competition in Service will replace Competition in Pricing in Liability Insurance

Satıcı stated that during the claim process the insurance company repaired the vehicle of the other party and that with the Direct Reimbursement System (DTS), the insurance company will serve its own customers and make them happy as well. Satıcı indicated that, this way, liability insurance will function as comprehensive coverage and said, "With DTS, service competition will replace price competition in liability insurance. Companies will make a difference with their services and this will result in customer loyalty in liability insurance as well." Satıcı stated that Mobile Accident Report is complementary to DTS and said "When these two applications are combined, insurance companies will be able to offer new services that will make a significant difference for their beneficiaries."

Participation is on a volunteer basis for companies

Satıcı stated that infrastructure and simulations are ready and that the preparations for the protocol are currently underway. Satıcı stated that the new application will not be mandatory for 32 elementary insurance companies and that all companies will be able to take part in this application thanks to the simulations they will develop. Satıcı continued as follows: "Every month, every company will pay the claim for its own beneficiary and these files will arrive at SBM. When the month is over, we'll review that particular month. We'll analyze data to see which company owes money to which company. We'll function as a barter room. Recourse transaction as well will take place via SBM. A dedicated board will be formed at TSB and that board will review the results of our calculations."​​

Three questions from President Erdoğan...

Insurance Information and Monitoring Center became the Innovation Life Cycle champion at InovaLig. SBM General Manager​ Aydın Satıcı received the championship award from President Recep Tayyip Erdoğan. Satıcı stated that President Recep Tayyip Erdoğan visited SBM's stand after the exhibition and that the president reviewed SBM application in detail. Satıcı​ added that President Erdoğan asked questions about weather or not these applications are free of charge, any support was received during the development phase and questions about the team that developed the applications. Satici said, "We told our President that these projects were developed by Turkish engineers and with our own budgets".

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