Messrs. Alexandros Derventzas, Branch Manager, and Giorgos Nikomanis, Sales Development Manager, talk to us about their careers and their collaboration with Sofos Insurance Agency AE, about the goals and prospects they see, about the problems that arose due to the pandemic on the island and inevitably affected the insurance activity as well, but also on whether, because of this event, lessons for insurance intermediaries arise.
The beginning and the course in the insurance market
Alexandros Dervenzas: My career in the insurance industry began in 1987, when I started working as an administrative employee in a large Greek insurance company. After about 10 years, in 1997, I returned to Corfu and continued working as an insurance broker. In 2005 I took over the branch management of a Greek insurance company in Corfu until 2013, a milestone year, when my collaboration with Sofos Insurance Agency began.
George Nikomanis: My introduction to the private insurance industry was in 1998 when I started working as a part-time underwriter alongside my other job in car sales. However, with the passage of time the simple professional pursuit developed into a professional passion for private insurance and overcame all other interests. Thus, since 2004 I have been practicing as an exclusive and only professional occupation that of an insurance mediator.
Getting to know and working with Sofos Insurance Agency SA
Alexandros Dervenzas: I have known Mr. Christos Sofos for more than 20 years. In 2013, when Mr. Christos Sofos strategically developed the operations of Sofos Insurance Agency, I immediately accepted the challenge – an offer to take over the Corfu branch. Sofos Insurance Agency is an insurance brokerage based on reliability, trust, and ethical values. With this in mind, I took over the management of the branch, aiming at the further development of operations in the wider area, as well as at serving the network of partners and customers. Today, after a seven-year process, the effort has begun and is bearing fruit. We have won the trust of all partners and with the help of everyone, old and new, the result is stable and constantly growing.
At the beginning of 2020 we moved to this new space, approximately 200 sq.m., fully equipped with innovative technological infrastructure. The service secretariat and the publications department are staffed by two colleagues with extensive experience in the insurance industry. In cooperation and with the support of the other colleagues from the central offices in Athens, we provide both partners and customers with continuous and immediate service. The network of partners has been developed throughout the island. Also, there are partners who are either housed or serve their jobs in the branch and I must emphasize that the working atmosphere with everyone is excellent. We seek and I think we manage, through dialogue, to find solutions for issues that concern our employees and partners for insurance issues and more.
George Nikomanis: My cooperation with Sofos Insurance Agency started about eight years ago. It is a company that offers high-level services to its customers and a particularly willing and friendly environment for its partners. With a high sense of responsibility towards all of us, with fast and high-level service, he has managed to win both us and the customers over the years. However, I believe that every company is its people and the people of Sofos Insurance Agency are the most important factor that has won me over, now being one of its executives.
The consequences of the pandemic on local insurance activity
Alexandros Dervenzas: The local economy in Corfu is based on tourism. The primary sector is almost non-existent, despite the efforts that have been made in recent times, which, although worthwhile, have been fruitless. In the last two years in Corfu, investments were made in the whole range of tourism and related services, such as renovations and upgrades of small and large hotels, development of houses for AirBnB, rental vehicles, marine tourism, excursions and cruises. However, the closure of the market for almost four months and the strong impact of the pandemic on the local market limited sales growth especially in tourism-related insurance. The overall decline in sales as a result of the decline in disposable income of the local population teaches an important lesson to all. Our economy and our portfolio across all sectors must now be structured to effectively deal with any potential risk.
George Nikomanis: The terms of market viability have also been reshaped in the insurance industry. Today and with the pandemic there are indeed difficulties, especially for professionals such as insurance intermediaries. However, there are also new job development opportunities, in sectors beyond the automobile civil liability sector, which offer prospects for advancement, especially for mediators who, with continuous effort and training, develop and are an honor with their responsible attitude towards their profession.
Does the pandemic offer lessons for the future?
Alexandros Dervenzas: The future for the insurance intermediary lies in the variety of risks that make up its portfolio. We should all reconsider what we are selling. It is a given that for most mediators car insurance is a stable base, with which they have developed jobs and incomes. But the general uncertainty and social needs that are becoming more and more apparent, pensions, health care, hazardous weather, business insurance are areas for which private insurance provides solutions. It also depends on us, the insurance intermediaries, of course, who must "dust off" our portfolio and provide our clients with the support they need with the appropriate insurance coverage.
George Nikomanis: It is certain that the pandemic is something unprecedented, something that no one could have imagined. My personal opinion is that the best advertisement is our customers themselves: that they are happy with our services and feel safe with our cooperation. Of course, from time to time, we follow the trend of the times and take advantage of any methods of promoting our services, posting advertisements both on local sites with high traffic and on social media.
How can the impact of the work carried out by insurance intermediaries in Greek society be improved?
Alexandros Dervenzas: My opinion is that the impact of the insurance mediator's work on society is the responsibility and possibility of the mediators themselves. We must highlight the usefulness of private insurance, provide high-level services to our customers, promote the image of the insurance market and present our customers with products that meet their needs and provide them with security.
George Nikomanis: I believe that professionalism and consistency are the most basic elements for the impact of our work to improve in society, to take its rightful place: we provide our clients, in society, with services for one of the most important goods, safety.
Despite any mistakes of the past, including the State, lately I have noticed steps to improve the social impact of our role. With a lot of work from all sides I believe the future will be even better. Private insurance is an industry that always has room for growth and even more so in our country. What interests us is the reliability and professionalism of each new partner. If you work in the right direction, with the right people, nothing can go wrong.
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