The Insurance and Private Pension Regulation and Supervision Authority (SEDDK) is carrying out data-driven audits to detect discrepancies between the declared number of branches and the actual transaction locations, as well as unregistered commission distribution.
The SEDDK Chairman, Mr Davut Mentes, said this at a press conference during an insurance congress, explaining that screen sharing and branch structures that violate regulations are monitored through data from the Insurance Information and Monitoring Centre, according to local media reports.
He said, “We are gathering evidence against those who declare having 10 branches but collect insurance applications from 2,000 locations and pay commissions through unregistered methods.”
He said, “We cannot examine 20,000 agencies individually. With a widespread audit method, we have a very powerful and valuable tool at our disposal: the Insurance Information and Monitoring Centre.”
He added that the SEDDK will ask for explanations for discrepancies from the relevant entities.