Hungary

Hungary – innovating out of recession

Sharing its location with the headquarters of MAI CEE Insurance Brokers, as well as being the oldest and one of the largest country operations, MAI Hungary tends to be at the leading edge of innovation for the company’s clients and provides a test-bed for many of the company’s new products and services.

We have been very active developing the activities of Managing General Agencies, with the success of Marine Insurance Express, and MAI CASCO in Hungary leading to their imminent roll out to a number of other countries within the region, and as far afield as China.

Hungary – the jewel on the Danube

The Hungarian insurance market remains very competitive, and we are working very closely with both local and international partners to build programmes that benefit from the soft rates and low deductibles available within local markets, yet match the wordings and terms used by the international markets for complex and unusual risks.

MAI Hungary is enjoying notable success working with larger organisations in the real estate, construction and marine sectors, and our local Employee Benefit practice is one of Hungary’s most advanced and successful in creating and administering programmes for employees.

Reducing the risks of credit

One of the more interesting developments in the Hungarian market is the growing need for credit assurance, especially for the purchase of major items such as cars, and for new financial risk products.

MAI is pioneering many innovative approaches to delivering these kinds of products, often bundled at the point of sale, which gives the customer a much more accessible product, while also yielding a valuable revenue stream to the dealer or financial institution.

Hungary