15 minutes with an entrepreneur on: keep the economy running with Marius Laslo, CEO Destine Broker
We rely on life and health insurance in the future to grow.It is a place to grow, health insurance is covered only 15%
Destine Broker is an insurance brokerage company established in 2007, and this year it estimates a volume of intermediated premiums of 100 million euros
♦ In the top of insurance brokers in 2020, Destine occupies the third position.
Marius Laslo, CEO of Destine Broker, an insurance brokerage firm, says the company will focus on health and life insurance for business development in the future, with two categories where there is room for growth.
“We rely on life and health insurance in the future to grow. There is also room for growth in Casco because not even 20% of the market is insured, and for health insurance the coverage is probably about 15% “, says Marius Laslo, executive director of Destine Broker, during the ZF show 15 minutes entrepreneur: How do we keep the economy running, a project by Ziarul Financiar and Alpha Bank.
Company establishment
The brokerage company was established in 2007. Marius Laslo notes that the insurance market has changed significantly since then. Initially, the demand was largely for compulsory insurance, but over time, people have become increasingly interested in liability, health, and life insurance.
“Until the Revolution, the insurance market was non-existent. Then, foreign companies started coming to Romania and then the founders of Destine Broker realized that there was room for a brokerage firm to mediate the insurance process. It is a place for development, we have not yet reached maturity”, as he explains.
The effects of the pandemic
Marius Laslo points out that the pandemic had a negative effect on Destine Broker’s business only in the first months, when not much was known about the disease. However, over the past year, the company has managed to adapt to new working conditions and work with customers remotely.
The demand for online interaction has increased significantly, rising from 15% before the pandemic to approximately 45% now, as businesses strive to keep the economy running.
“Human interaction remains basic, our customers want to interact with someone, to ask questions, to know which product to choose. However, there is a trend towards online in the area of the young generation, which interacts faster through technical methods “, explains Marius Laslo.
In addition to the growth of the online area, in the last year people have been more interested in health insurance, so the demand for them has increased, mainly to cover the risk of getting COVID-19.
Marius Laslo says there is a return to the demand for insurance, so Destine Broker ended the first quarter of this growing year in terms of policy intermediation. Estimates for the entire year 2021 on the volume of intermediated premiums are around 100 million euros.
Top brokers in 2020
In 2020, the top insurance brokers were led by Safety Broker, followed by Marsh Broker and Destine Broker. The volume of premiums brokered by insurance brokerage companies at the end of 2020 reached 7.86 billion lei, increasing by 9.1%.
Destine Broker alone brokered premiums of 451 million lei (over 90 million euros) last year, with a market share of 5.72%