Despite the introduction of the ‘Bersani Law’ looking to liberalise the Italian general insurance sector and increase competitiveness, International Insurers wishing to enter the Italian Insurance Market still have a long way to go to impact on the agent dominated market.
Italy is a land of both challenge and opportunity. Those that are keen to make their mark in the region are enthusiastic about the untapped potential, particularly in more specialist areas. The distribution landscape has changed in recent years, with the liberalisation of the agent networks, and it continues to develop, with a growing community of independent brokers and a flourishing bancassurance sector. As the result of the introduction of the New Insurance Code in 2005 and the Bersani law the following year exclusivity has been eliminated and now all agents are, at least in theory, multi-brand. Footprint developed an innovative solution; TUS ( Transborder Underwriting System ), based on interaction between Insurer , Underwriting Agency and Agents located in another country. This unique strategy and approach overcomes the issues related to the insurer establishment in Italy; this means it is now possible to build an agency network in Italy before getting established. The first Underwriting System hosted and managed from the UK - TUS ( Transborder Underwriting System ) fully complies with European regulation and represents an incredible opportunity The Footprint product TUS can greatly enhance the efficiency and consistency of underwriters using it. TUS is a full-featured underwriting application that frees underwriters from flipping through paper manuals
Benefits of TUS