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Free Tariff Set to Revolutionise Turkish Insurance Sector
TSİD Chair Ayhan Kılavuz said the free tariff system will boost competition, with the regulation expected to take effect in 2024.
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TSİD announced that the "free tariff" system will bring a major transformation to the insurance sector. Under the new system, insurance agencies will be authorised to set their own tariffs, allowing them to offer more flexible services. TSİD Chair Ayhan Kılavuz said the free tariff would increase competition in the insurance market and raise customer satisfaction to its highest level.
Kılavuz also stressed the critical role insurance agencies play in the sector, drawing attention to the importance of professional insurance services. New applications integrated with developing technology aim to raise the quality of the services agencies provide. The regulation is expected to take effect in 2024, reflecting the innovation and progress under way in the insurance sector.