Turkey Streamlines Traffic Insurance Claims with Automated Value…
Turkey’s Sigortacılık ve Özel Emeklilik Düzenleme ve Denetleme Kurumu (SEDDK) has implemented a new regulation aimed at significantly streamlining the mandatory traffic insurance claims process for Turkish policyholders. The core objective is to simplify claim settlements and reduce administrative burdens for vehicle owners nationwide.
A key change under the new regulation is the automatic calculation of compensation for “value loss.” This refers to the reduced market value a vehicle incurs after an accident, even if fully repaired. Previously, policyholders often had to engage intermediaries or external parties to assess and pay out such compensation, which was a time-consuming and complex procedure.
The introduction of automated calculation eliminates the need for vehicle owners to contact these intermediaries for value loss claims. This measure is expected to relieve both policyholders and the insurance system, ensuring a more direct and efficient handling of claims related to mandatory vehicle insurance.
For Turkish vehicle owners with mandatory traffic insurance, this means a simpler and more predictable process following an accident. The financial loss linked to the vehicle' s depreciation will now be automatically assessed and included in the total claim settlement, without requiring additional effort from the policyholder.
This reform is part of broader efforts to modernise and enhance the efficiency of financial services in Turkey, aiming to build greater trust in the insurance system among consumers.
Source: Haberglobal
