Cyber insurance, professional liability and health insurance, the “stars” of the insurance market in 2022. They will register the biggest increases
• Leader Team Broker estimates a 20% increase in cyber risk and liability insurance in 2022.
• Health insurance is still on the rise, as a result of the concerns generated by the pandemic.
• Top 3 of the most important insurances that a company or an individual must take out.
Leader Team Broker, which already collaborates with European companies, aims this year to expand in all EU countries, especially with international health insurance, e-commerce insurance, cyber risk insurance, as well as other professional responsibilities in the fields such as oil and gas, maritime industry or construction.
The year 2021, marked by the pandemic caused by SARS-COV2, led people and companies to become aware of the risks to which they are exposed and to make them take out insurance, especially health and professional liability insurance, for the purpose of protection. Leader Team Broker estimates a 20% increase in gross premiums subscribed in 2022, compared to the previous year, a significant advance considering that, every year, the average increase was between 8 and 10%.
“The pandemic, which continued throughout the last year, made all of us – individuals and companies – more attentive to risks and more responsible towards us and towards our businesses and employees. Under these conditions, the insurance market was in continuous growth and development.
For Leader Team Broker, 2021 was a year in which we continued to innovate, in which we launched new products – among which we mention liability insurance in different fields: e-commerce or for marketing agencies, in which we- we expanded to European level and in which we won several international awards, as a result of the innovative products we created.
For 2022, we are working on new packages in the health and professional liability insurance segment and we will continue the expansion, in order to strengthen our presence at the European level“, declared Razvan Rusu, the founder of Leader Team Broker.
In addition to national or international health insurance, some of the most sought-after products in the Leader Team Broker portfolio are cyber and professional liability insurance, which are on an increasing trend both in Europe and in Romania, where Leader Team Broker estimates a 20% increase in this segment.
“Certainly, the COVID-19 pandemic has led people to be more responsible for their own health, both in terms of prevention and in terms of ensuring the risk of illness for the future, and thus this segment has a significant increase.
Leader Team Broker combines insurance products with technology and artificial intelligence and has always been one step ahead and permanently connected to international markets, analyzing every possible risk and creating first-of-its-kind insurance products that companies can rely on. We will continue to focus on health insurance with territorial expansion in 2022 as well.
A second segment on which we will focus our development strategy this year is cyber and liability insurance, in the context of new risks and new requirements in the market”, declared Alexandra Elena Durbaca, CEO Leader Team Broker.
The company representative explained that the number of companies interested in the cyber risk policy increased significantly after, in 2020 and 2021, cyber attacks increased by up to 70%.
On the other hand, 2021 brought another interesting novelty in the industry at a global level – the insurance imposed by Amazon on all sellers who sell on the platform above a certain amount limit.
“Leader Team Broker was among the first players in Europe to launch such a product. Currently, we have over 150 companies in Europe that have already purchased this product and we aim to expand with it in as many EU countries as possible.
At the same time, we estimate that the professional and cyber liability segment will grow by 20% in 2022, and we will support our customers with new innovative products”, added Alexandra Elena Durbaca, CEO.< /strong>
Top of insurances needed by a company or individual
In 2021, the top 3 most requested products were car policies (RCA< /strong> and CASCO), professional liability insurance and health policy. The ranking will remain approximately the same in 2022, with the mention that property insurance will also enter the top 3.
In the case of companies, the top of the most important insurances that a company must take out are goods and heating, professional liability, health for employees and car insurance (if applicable).
In the case of an individual or a family, the ranking should include health and life insurance, property insurance (home and car), liability insurance and travel insurance (if applicable).
What Romanians who want to take out insurance in 2022 need to know
The Leader Team Broker specialists recommend those who want to take out insurance policies in 2022 to purchase their insurance, depending on the analysis of the risks they are exposed to and to focus their attention primarily on property, home and health insurance (these are the basis that everyone must have).
Leader Team also recommends Romanians to contact a broker with experience in the insurance product they need. The market is large, there are many offers and just as many specialists, but beyond the offer and price, the impartial consultancy focused on the analysis of needs and the presentation of the latest generation solutions can make a significant difference between one broker or another.
Additionally, assistance in case of damage is a differentiator. The company’s experts also recommend Romanians to choose the insurance product according to their needs and not based only on price. To choose insurance products from insurance companies with experience, creditworthiness and stability in the market.
About Leader Team Insurance Broker
Leader Team Insurance Broker is an insurance brokerage company with a European presence and over 16 years of experience in risk management and insurance. The company is recognized as one of the most innovative insurance brokerage players with unique products for liability, health, cyber security, products for the IT industry, naval industry, aviation, energy, marketing and HR.
In 2021, Leader Team Broker received in UK-London, the distinction of “Insurance Broker of the Year”, within the Corporate LiveWire awards, for the degree of creativity and innovation of insurance products, designed for the new industries under development and which covers the new challenges of the business environment. The jury appreciated the way in which Leader Team Broker breaks patterns and comes up with creative products, for industries in full expansion and for the most diverse risks.
In 2020, the company’s performance was rewarded by the publication Piata Financiara with the title “Insurance Broker of the Year” and by Financial Intelligence with the distinction “Cybersecurity Insurance of the Year 2020”.
The London publication “Treat Technologies” dedicated to cyber security news included Leader Team Broker in the top 20 companies worldwide that offer the best solutions and insurance products in “cyber insurance”.
In 2017, the company received the “Most Creative Insurance Broker in Romania” award, offered by Media XPrimm, and in 2019, it received the “Innovation and Digitalization” award, being the only brokerage company that used RPA technology for repetitive financial operations .
The company was awarded in 2020 by the publication Piata Financiara, at the e-finance Gala, with the “e-Risk” award for the best product intended to prevent and cover the risk of cyber attacks.
Leader Team is the only insurance brokerage company that developed the iDoctor concept, an integrated program of national and international medical services, based on a personalized insurance program.
Details on https://leaderteam.ro/asigurare-sanatate-idoctor/
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