Education of insurance agent technical personnel in Turkey

Abstract

This paper is related to education of intermediaries who sell insurance products in the name of and on account of insurers. Those persons; namely “Insurance Agents” act as direct representatives of insurers. Therefore, regarding their disclosure obligation, their knowledge about insurance products and management of risk is extremely important both for insurers and insureds. “Insurance Agent Technical Personnel” is a quite new concept which was regulated firstly by previous Insurance Agents By-Law, that was issued in 2008. This By-Law has been based on Insurance Act which was entered into force in 2007. After promulgation of the Insurance Act and the By- Law which have been issued for the aim of harmonisation with EU Law, informing about insurance policies, marketing and sales of insurance policies can only be realised by those qualified persons. Before the regulation, insurance policies could be saled by a great number of insurance agents who haven’t got any specific education and experience. In this paper, education of insurance agent technical personnel in Turkey which has been given by the Center of Insurance Education (CIE/Sigortacılık Eğitim Merkezi-SEGEM) under supervision of the Undersecretariat of Treasury will be evaluated regarding purpose and content of the education, education of teaching staff, the persons who have to be required to get this education, re-education and statistical datas.