Adam Smith Conferences' 3rd Russian Insurance Forum took place in February 2013

Adam Smith Conferences’ third Russian Insurance Forum was held in February 2013, and featured presentations by the FSFM, Ministry of Finance, and Russia’s leading insurance companies.
The Forum opened with presentations by Vera Balakireva, Deputy Director of the Financial Policy Department at the Ministry of Finance of the Russian Federation and Goetz Kuras, Partner at Oliver Wyman. They spoke about the strategy for developing the insurance market until 2010. Ms Balakireva and Mr Kuras talked about how the insurance sector is tasking itself with focussing more on clients, attracting resources into the economy, making Russia’s citizens more aware of insurance, and increasing the role of insurance brokers. These activities should all help the insurance sector to contribute more to Russia’s economy.
Certain other activities are only possible with correct regulation of voluntary and compulsory types of insurance. They include the development of risk management, supporting the sector’s infrastructure, introducing new client-oriented products, and increasing the role of actuaries, brokers and agents.
Dmitry Pankin, Head of the Federal Service for Financial Markets, welcomed guests to the Forum, which he called “an impressive event”. Speaking about mega-regulation, Mr Pankin said that the most important factor is development of a transparent and effective market, with a high level of regulation and control. 

The Forum hosted presentations by representatives of companies including Rosgosstrakh, MSK, Generali PPF and UralSib Insurance Group. One of the most interesting was by Alexey Zubets, Head of the Centre for strategic research at Rosgosstrakh and a professor at the Russian Government’s Finance University. Mr Zubets spoke about the research that he is managing at the Centre – “Main problems on the insurance market and opportunities for its development”. An important priority in the development of product policies at Russian insurance companies is the search for critical dangers, and adaptation of products to protect clients from them. Another priority, Mr Zubets feels, is development of strategic marketing that focusses on consumer needs.

The Forum also hosted Industry Leaders’ Debates, featuring:
Nikolay Galushin, Deputy Chairman of the Management Board, SOGAZ
Dmitry Rakovshchik, General Director, RESO-Garantia
Maria Malkovskaya, CEO, INTOUCH Insurance
Matjaž Rakovec, CEO, Zavarivalnica Triglav
Igor Ovchinnikov, Federal Service for Financial Markets
Moderator: Andrey Veselkov, General Director, Media and Information Group "Insurance Today"
Watch video -

The second day of the Forum was dedicated to practical topics. It began with an analytical session “Insurance business growth driven by predictive analytics for pricing and decision optimisation”. It also featured discussions on the most prospective insurance segments, which began with presentations by the presidents of associations and unions representing segments that were discussed: ♦ Life insurance ♦ Medical insurance ♦ Motor insurance ♦ Compulsory hazardous industrial facility liability and compulsory insurance of the civil liability of vehicle owners.
Other topics discussed at the Forum included: the role of banks on the insurance market; price-setting and tariff policy; restructuring and managing an insurance portfolio; new technologies, and sales and effective regulation of losses and underwriting.

We look forward to seeing you again in 2014!

Please address your recommendations for new speakers and topics to the Forum’s director, Anna Rys: annar@adamsmithconferences.com