"Insurance should become compulsory in a natural way"

access_time2019-06-11 11:00:03

 “Some types of insurance, for example vehicle insurance, should be mandatory, otherwise they will not develop. A total of 1. 3 million cars are registered in Georgia, and only 80,000 of them are insured. The situation is the same  in terms of property insurance - the  market accounts for  GEL 8 million that is a very small amount, ” Kote Sulamanidze, CEO at Hualing-Insurance, says.

According to Sulamanidze, international experience shows that the population’s involvement in    the insurance sector grows simultaneously with a growing well-being of the population that primarily concerns health care, as well as  the vehicle and real estate insurance.

“Georgia has already reached the level when the population should start using insurance services more actively. We see that Georgia’s insurance sector develops only in case of any incident - for example, when a fire destroys part of the market. Only after that, compulsory insurance of objects of mass gathering of citizens was introduced. We should not wait until trouble comes, the state should make several key insurance services mandatory, ” Kote Sulamanidze believes.


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