Denmark: Small insurance firms have loyal clients
Article Abstract:
A survey conducted in Denmark by Center for Ledelse shows that small insurance companies have more loyal and happy clients compared with the big ones. According to the survey, the small companies reported a 25% higher client loyalty degree compared with Codan and Topdanmark, that are the biggest insurance companies in Denmark and reported the lowest rates in the survey. The small companies explain their success with the fact that they have closer ties to their clients. The big companies fail to understand the poor rates they scored in the survey. Alka Forsikring, which is one of the smaller companies in the survey with only a 4% share of the market, coped particularly well in the survey. According to Center for Ledelse, Alka's relatively success can be ascribed to a highly focused strategy. "It works entirely through phone contacts focusing on specific client segments". TrygBaltica's deputy MD Stine Bosse says the insurance business is facing more demanding client, which means that insurance companies have to become more explicit in their communication with clients.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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Denmark: Costly insurance premiums due to terrorism
Article Abstract:
Insurance premiums for corporate clients in Denmark are to rise by 15-20% for medium-size companies whereas large companies will see their premiums rise by more than 50%. At the same time, insurance companies report that their will not cover for losses caused by terror actions. Henrik Hildebrandt of the insurance brokerage company Marsh finds this unsatisfactory and says the insurance business will have to join forces and find a solution. The leading insurance companies have made efforts to put pressure on re-insurance companies to include terrorism in the insurance but have failed in this. They are now working on a joint solution whereby the business itself could cover terrorism with the help of state subsidies perhaps. Zurich Forsikring, the Swiss insurance giant, however, offers coverage against terrorism - but at a high price.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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DENMARK: PENSION COMPANIES DRAW ON RESERVES
Article Abstract:
Danish pension companies are generally drawing on their reserves after the downturn on the stock market and moderate yields on large bond portfolios. According to a survey by Borsen, the Danish insurance business as a whole is demonstrating yields between 0 and 2 per cent. This is, however, an improvement compared with first quarter results. During the first three months pension companies generally suffered losses of between 1 and 4 per cent. The Danish Financial Supervisory Authority is keeping an eye on pension companies to make sure they meet credit requirements.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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