Delays and disruptions in the supply chain not only create additional workload for insurance companies and adjusters, but also erode policyholders' trust in the sector, according to the board of directors of the Turkish Insurance Experts Association (TUSED).
The Association has conducted a comprehensive assessment of the critical spare parts procurement processes and the impact on the insurance sector, reported Insurance Gazette, citing a statement released by the board.
Incidents such as incorrect or delayed parts procurement and stock and price updates, damaged products during shipping, and waiting times exceeding 20 days for parts procured from abroad, were cited as key factors threatening the procurement process.
The TUSED board called for urgent steps to resolve existing problems. It emphasised the need to constantly update parts catalogues, accelerate system integration, ensure suppliers have transparent and robust communication channels, provide real-time pricing and inventory information, monitor logistics processes, and improve delivery standards. Furthermore, the board emphasised that arbitrariness in operations should be eliminated and a set of rules should be established to maintain order in the sector.
The board said, “A regulatory reform process must be initiated urgently, led by the public authorities, with the participation of all stakeholders, to improve procurement processes, ensure order in the sector, and protect policyholder confidence.”