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AgeSA responds to growing demand for new Savings & Protection products

With increasing demand for products that meet the need for medium- and long-term saving and protection products, AgeSA set out to design a customer-centric hybrid product targeted to middle- and high-income families. “Hayata Yatirim Sigortasi” quickly attracted some 33,000 policies and 49 million USD in premiums, the investment currency of choice.

AgeSA responds to growing demand for new Savings & Protection products

From a market share in Savings Life Insurance of 1.27% in 2022, AgeSA today enjoys a market share of 30.44%, positioning it as the second largest player in this sector after Vienna Life.

In responding to the growing demand in the market, the overriding emphasis was on flexibility, which translated to the ability to change premiums during the term of the policy and borrowing options. Considering factors such as the customers’ investment behaviour, customer life stage, economic trends, and potential value, AgeSA targeted customers potentially needing AgeSA Life Insurance in their current life cycle, achieving more sales with fewer offers. The product has a positive impact on customer satisfaction and the digitalisation rate of customers has increased by 5%.

To maintain its leading position in the endowment market, AgeSA also came to market with a new protection product “Her Ihtimalin Sigortasi” offering flexible maturity in addition to payment options and regular payment bonuses to meet medium and long-term protection needs. The sales process can be completed conveniently via the AgeSA Mobile app. With close to 3,000 policies already in place representing premiums of close to 4 million USD. 

Pensions going digital in new tech development 

In other digital developments, pension products have been added to AgeSA’s award winning platform “BiTikla” which includes all sales processes leveraging innovative technologies. The aim is for an end-to-end digital customer experience ultimately available on mobile for all customers. AgeSA continues to develop its operational processes with a view to simplifying the application process and improving the customer experience, with the aim to eliminate paperwork and make all future sales in a digital environment.