Call centres key in war for insurance market share

There is great concern at present from both consumers and industry professionals about the insurance industry in Ireland.

Between flood and storm claims, rising premiums, key players and their subsidiaries experiencing financial difficulties and Government- and industry-backed incentives to insure particular age groups, the industry is in a state of flux.

Thirty years ago, the Insurance Corporation of Ireland, a subsidiary of Allied Irish Banks, collapsed due to under-reserving of open ended liabilities. It threatened the bank’s stability and was yet another episode exposing the fragile nature of the insurance market, following what had happened at PMPA only years before.