As Romania’s life insurance market gradually moves out of the shadow of low penetration, digital innovation and changing consumer expectations are reshaping the industry. At BRD Asigurări de Viață, this transformation has been a strategic priority under the leadership of Benjamin Turquin, who has been at the helm since 2022.

In an interview with Romania Insider, Benjamin Turquin points to a clear shift in how Romanians perceive life insurance: no longer just a safety net, but an increasingly important tool for long-term financial planning, savings, and investment. “The pandemic was a turning point, when many Romanians began to see life insurance as an essential tool for protecting their savings and preparing for the future,” he says.

Against this backdrop, BRD Asigurări de Viață has focused on strengthening its bancassurance model, expanding investment-linked products, and embedding insurance more deeply into digital banking journeys. These efforts reflect broader changes in the Romanian financial sector, where accessibility, transparency, and simplicity are becoming key differentiators.

As part of the wider Société Générale and BRD Groupe Société Générale ecosystem, the company aims to capitalize on digitalization and partnerships to support a market that, while still underpenetrated, is showing growing maturity and appetite for long-term financial solutions.

Beyond growth and technology, sustainability is increasingly influencing product design and internal practices, with ESG principles integrated into investment options, governance, and workplace culture. For Benjamin Turquin, these shifts reflect a broader maturation of Romania’s financial sector, which mirrors changes in the country’s business climate, regulatory environment, and consumer sophistication. While challenges remain, the direction is clear: life insurance in Romania is steadily moving from the margins toward the mainstream of financial planning.

Read the full interview below:

Since taking over as General Manager, how have you steered BRD Asigurări de Viață’s development, and what milestones are you most proud of so far?

Benjamin Turquin: Since taking over as General Manager in 2022, my focus has been on steering BRD Asigurări de Viață’s development along three main axes: strengthening our bancassurance model, diversifying our products and channels and driving innovation to better serve our customers. 

The milestone I am most proud of is our consistent growth and solidification in the life insurance market in Romania. This is a testament to the dedication of our team and the strength of our integrated bancassurance partnership with BRD banking network.

Product innovation is our priority. We have steadily diversified our portfolio, introducing investment-oriented solutions, such as our latest product, LongVITA INVEST. This reflects our commitment to providing dynamic solutions, by offering both protection and savings.

Recognizing the importance of accessibility, we have improved the accessibility of our products thanks to digital channels.

These milestones have been reached by streamlining our processes to enhance our customers’ experience. The implementation of our online insurance product within BRD consumer loan journey has led to a clear improvement of clients’ satisfaction with full accessibility, as well as clear product value and benefits. 

The Romanian insurance market has often been described as underpenetrated compared to other EU countries. From your perspective, how has the market evolved in recent years, and where do you see the biggest opportunities for growth?

Benjamin Turquin: The Romanian insurance market has been characterized by relatively low penetration compared to other EU countries, particularly in the life insurance segment. However, in recent years, we have noticed clear signs of evolution. There is a growing awareness among Romanians about the importance of financial protection and long-term planning, accelerated by the evolution of the economic environment and by increased financial knowledge among the public.

We are witnessing a gradual shift in consumer attitudes, with more individuals and families recognizing the value of life insurance - not just as a safety net, but as an integral part of their financial protection. At the same time, the digitalization of the industry has played a significant role in making insurance products more accessible and easier to understand.

From our vision, the future of insurance in Romania lies in creating flexible and affordable products, rooted in everyday needs to support medium- and long-term plans. 

The global move towards digitization and market efficiency will accompany this need and allow clients compare insurance products characteristics and added value.

The growth will be notable in the non-life segment, particularly in home insurance, and in the life insurance with investment component segment.

To sum up, the Romanian market has been showing positive trends in the past years, expanding in new and existing lines of products. At BRD Asigurări de Viață, we are dedicated to driving innovation and the expansion of the market to help our clients build a more secure future.

Have you noticed shifts in how Romanian consumers perceive life insurance and financial protection, especially after the pandemic and during recent economic uncertainties? How are changing customer expectations impacting the way life insurance products are designed and delivered?

Benjamin Turquin: Absolutely, we have noticed significant shifts in how Romanian consumers perceive life insurance and financial protection, particularly in the wake of the pandemic and amid ongoing economic uncertainties. The pandemic was a significant moment, when many Romanians began to see life insurance as an essential tool for protecting their savings and answering their different needs, such as financial asset development, retirement preparation or transmission.

This heightened awareness has translated into clients seeking transparency and expecting flexible products tailored to their needs. In response, at BRD Asigurari de Viata, we are focusing on simplicity, transparency and digital accessibility. For example, streamlining our product offers makes them easier to understand for clients and increases their satisfaction in the longer run. We are also focusing on digital tools to support our clients in their wish to manage their policies and access support at their convenience.  

Ultimately, the changing expectations of our customers are driving us to be more agile in our approach.  We see this as a positive evolution - one that will help us build stronger relationships with our clients and always support their financial objectives.

Digitalization is one of the buzzwords in insurance, but also a real necessity. What concrete steps has BRD Asigurări de Viață taken to improve the digital experience of clients and partners, and what results have you seen so far?

Benjamin Turquin: BRD Asigurări de Viață has taken several concrete steps to enhance the digital experience for clients and partners, focusing on process efficiency, data accessibility and multichannel access.

In savings and life protection, we have worked on data quality and availability for our partners and clients. Two main projects are to outline. We’ve strengthened the advisory tools available for BRD relationship managers with real-time insurance data and created a 360° customer view to enhance transparency. Our next step is to extend these capabilities directly to clients, reinforcing our commitment to efficiency and trust.

Still in partnership with BRD, we have also launched our first online journey. Looking ahead, we are preparing new journeys for digital distribution. This will allow clients to subscribe policies and manage their contracts through their preferred channel.

These initiatives have collectively improved accessibility, reduced processing times and enriched the overall customer experience.

Sustainability is becoming increasingly important in financial services. How do you translate ESG principles into your strategy and products in a way that resonates with Romanian clients?

Benjamin Turquin: At BRD Asigurări de Viata, our ESG strategy aims to integrate sustainable investments, empower our employees and promote ethical IT & procurement practices. Our ESG approach is about integrating sustainability into core business practices. For our life insurance with investment components range of products, we include investment options linked to funds that include social and environmental criteria and we maintain transparency on products fees and coverage details. Internally, we focus on workplace well-being, diversity, inclusion and skills development, supported by dedicated training, such as on climate change and neurodiversity.

Beyond all these, we act through initiatives such as employee volunteering (planting actions, blood donation) and reducing plastic use in the workplace. These steps reflect our willingness to aligning our operations with broader sustainability goals.

BRD Asigurări de Viață operates within the wider Societe Generale and BRD ecosystem. How important are partnerships with banks, fintechs, or startups in fostering innovation and making insurance more accessible?

Benjamin Turquin: Partnerships are absolutely essential for fostering innovation and expanding access to insurance. Being part of the Societe Generale group and BRD retail banking ecosystem gives us an unique positioning on the market.

Our bancassurance model allows BRD clients to access our insurance solutions directly from their usual banking channels. On the other hand, Societe Generale group is a huge driver for growth and innovation, recognised for its financial engineering capabilities. Our LongVITA INVEST product is the perfect illustration, offering BRD clients the protection of our life insurance and the dynamism of BRD Asset Management funds and Societe Generale Corporate & Investment Banking structured funds options.  

Currently, our focus remains on leveraging the strengths within the Societe Generale and BRD ecosystem, but we continuously monitor developments in the fintech, insurtech and startup landscape to identify future opportunities that align with our strategic priorities and customer needs.

Romania’s business climate has changed significantly over the past decade. From your experience on the ground, what are the most striking changes you’ve observed and what has been their impact?

Benjamin Turquin: Over the past decade, Romania’s business climate has undergone a remarkable transformation and it has evolved with significant growth in IT and renewable energy sectors, alongside advancements in automotive and agriculture. Next striking change I’ve observed is the rapid digitalization across industries.

Subsequently, the workforce became more skilled and adaptable, which is crucial for our company’s growth and ability to serve a diverse client base. As this shift improved our operational efficiency as company, we could see customer expectations and eagerness for seamless experiences grow.

The implementation of European directives and local regulations has raised the standards for governance and consumer protection for the past 10 years. It required substantial adaptation from financial institutions, for the better, to foster greater trust. In the insurance sector, it encouraged more Romanians to consider life insurance as a key part of their financial planning and diversification.

On a more personal note, how has your journey as an expat General Manager in Romania shaped your leadership style? What has surprised or inspired you the most about working and living here?

Benjamin Turquin: I arrived in Romania in October 2014, coming directly from Croatia. From the very beginning, I was drawn to the vibrant Latin spirit and the warmth of the people here. What was initially planned as a three-year assignment has now turned into eleven years and I continue to enjoy every day spent in this country.

My international journey has certainly influenced my leadership style. While my core values remain the same, I have become much more attentive to interpersonal relationships. I’ve learned that in Romania, there is always a reason to celebrate, and this positive outlook is truly contagious. It has taught me the importance of having a supportive and collaborative environment within my teams.

What inspires me most is the incredible positive energy I encounter here. There is a prevailing sense that anything is possible, and I particularly appreciate the freedom and flexibility that Romania offers, both professionally and personally. There are always opportunities and solutions available for any challenge or idea, which creates a tremendous space for growth and innovation. As we say here, “Ne descurcăm și facem!”—we find a way and we get things done. This mindset is a major advantage and continues to inspire me every day.

*This interview was edited by Romania Insider for BRD Asigurari de Viata.