According to ”Puls Biznesu” two insurance companies want to enter the Polish market – the Danish insurance company Gefion Insurance and a new insurance start-up promoted by an intermediary from the southern part of the country.
Gefion Insurance is a young company established two years ago by finance experts with experience in the Scandinavian finance sector, i.a. Saxo Bank. Gefion already operates in the UK, Germany and France. The insurer should enter the Polish market within a month. “Gefion is preparing to start business in Poland, but we are not yet fully ready to start. Preparations may take us another 3-5 weeks” says Erik Jensen from Gefion Insurance.
The newspaper states that the company will cooperate with Polins. This Polish intermediary will be the only partner of the new insurance company. It will play the role of the company’s representative in the territory of Poland. Currently the insurance start-up is recruiting staff, in particular in the north-eastern part of the country.
With the second company, it is only known that it needs far more time to enter Poland. “Puls Biznesu” reported that the process of expansion into Poland is being carried out by an 8-person management team, headed by Krzysztof Michałek, previously associated with Compensa.
Initially, the second start-up was to operate under the license of a British insurance company, but this plan fell through. Hence, the preparatory work was extended in order to search for a new partner.
Market experts are of the opinion that the Danish project has a greater chance of success. Both expansions confirm that the Polish insurance market is still a place for niche projects.
