Zeynep Stefan is a post-graduate student in Munich studying financial deepening and mentoring startup companies in insurtech, while writing for insurance publications in Turkey.
Her career in insurance started in 2006 while working for the risk and assurance Team of PricewaterhouseCoopers in Istanbul. In 2009, she joined Generali Turkey to build the internal control, risk management and compliance functions of the company. Between 2012 and 2014, she undertook a similar position in Assicurazioni Generali’s head office in Italy, working as a senior risk analyst with a focus on risk analysis and the Solvency II implementation. After 2014, Zeynep took up a new challenge as head of risk management and internal control at ERGO Turkey.
She is certified by CRMA (Certification in Risk Management Assurance) and gave lectures at the Insurance Academy of Istanbul University.
Risk management activities of insurance companies are mainly based on three risk types: whole portfolio, supplementary and others. In “others,” two risk types — operational risk and credit risk — stand out with their financial impacts and frequencies. Credit risk is defined as “the potential that insurance company’s borrowers or counterparties will fail to meet […]
After Solvency II, the European Union is ready for its next big and comprehensive regulation, called GDPR (General Data Protection Regulation). GDPR was approved by the EU Parliament in April 2016 and after a two-year grace period took effect in May 2018! The new regulation will replace the current Data Protection Directive 95/46/EC. Regulatory Landscape […]
After the financial crisis in the European Economic Area (EEA), life insurance business was significantly influenced by volatile market conditions, low interest rates, pressures from regulatory bodies, changing customer demographics and investment patterns. These undesired economic conditions caused a dramatic increase in the protection gap. The insurance protection gap or underinsurance shows us the difference […]
Until insurtech, insurance companies were defining microinsurance policies as social responsibility projects. With the magic touch of technology, the picture is changing rapidly! Microinsurance is a type of micro financial activity, which protects low-income people and communities with low premiums and limited coverages against risks. The main objective is providing financial protection for all low-income […]
According to its generally accepted definition, operational risk is “the risk of loss resulting from inadequate and failed internal processes, people, and systems or from external events” and it covers also legal risk exposure. However, according to the risk management literature, strategic and reputational risks are excluded from operational risk definition. With its qualitative background, […]
As the world becomes more connected — with billions of sensors, connected machines, totally digital processes, trillion terabyte of new data and strict regulations on data privacy — cyber risk appears as a bigger threat on the digital transformation journey of insurance companies. Cyber risk was always there, and companies managed it without detailed policies […]
“Me, Free, Easy.” Oliver Bäte, the CEO of Allianz, gave a CeBIT speech with this headline that covers all revolutionary insurtech activities and gives us the most important hint about what the products for customers will look like in the future. And this is not just applicable for insurance but for all businesses that would like to […]