Despite the pandemic, AgeSA extended their solid performance thanks to comprehensive digitalization efforts.

Developments in 2020

Fundamental Changes in the Sector

In 2020, the COVID-19 pandemic negatively affected the entire world and caused major changes in the insurance industry. During a time when concern for the future preoccupied much of the population, individuals better understood the importance of insuring themselves, their loved ones and their personal belongings. The year’s prominent themes in the insurance sector included “quick adaptation to changes,” “customer-orientation,” “digitalization,” “sustainability” and “new business models.”

Strong Growth in the Insurance Sector

In 2020, the Turkish insurance industry produced a total of TL 65.4 billion in non-life insurance premiums. The sector recorded total growth of 18%: 9% in the motor third party liability, 15% in MoD, 26% in non-motor and 21% in health insurance.

In private pensions, the total PPS participant base including auto-enrollment climbed to about 12.6 million. Total funds under management grew to TL 170 billion, including government contributions. Growth in life insurance reached a record high 25%, especially due to the acceleration in housing and personal loans.

Sustainability and “Good Deed” Projects from  AgeSA

In line with its approach of being a good corporate citizen,  AgeSA implemented a wide range of supportive actions and projects for its employees, customers, agencies and society during the pandemic.

Quickly adopting the remote working method,  AgeSA launched the Employee Support Program. This effort is designed to address key areas – with psychological counseling services, medical advisory, family counseling, child and adolescent counseling – to support its employees. In 2020,  AgeSA demonstrated the strong bond it has with its staff by reporting an employee engagement rate of 91%.

During this challenging year,  AgeSA provided support to its agency network in terms of both business operations and agency staff. This assistance included technical equipment, training, market information, health measures and motivational support. Additionally, AgeSA made LEAP, a guidance and psychological counseling service specially designed for company employees, available to its agencies in 2020.

In response to the pandemic,  AgeSA directly communicated with its customers one-on­one via telephone to relieve their growing concerns. The company demonstrated a sensitive and responsible approach in its brand communications by sharing health, nutrition and family-related content via its social media accounts.

 AgeSA ensured that the policies of customers facing difficulties in paying their health insurance premiums due to the COVID-19 pandemic were not canceled. Procedures where an original signature or paper based documentation is mandatory can now be completed via voice approval, e-mail or via WhatsApp to facilitate claims and support processes. Life insurance policyholders are provided the opportunity to access additional benefits in health, child development and education. This comprehensive support includes flexibility in utilization of these benefits.

Performance in 2020

 AgeSA demonstrated a robust and flexible stance in a year full of unprecedented challenges and uncertainties. The company recorded stable growth by maintaining its financial strength. Since 2015,  AgeSA has been the private sector market leader in PPS including auto-enrollment. In 2020, the company reported a PPS fund size of TL 30.5 billion. At year’s end,  AgeSA registered premium production of TL 66 million in non­life, and TL 1,257 million in life insurance. By recording 2.1 million active non-life policies and 1.3 million life policies, AgeSA boosted its net income by 36% as of year-end 2020.

Digitalization, Technology and Investments

10 Awards in Human Resources, Customer Satisfaction and Technology

 AgeSA is widely known for differentiating its customer and employee experience with unique applications and innovative solution. In 2020,  AgeSA was deemed worthy of 10 awards by leading platforms – including Stevie Business Awards, Brandon Hall and IDC ¬– for its excellence in customer satisfaction and experience, human resources and business technologies.

Paper-Free Sales with Bi’Tıkla

In 2019,  AgeSA provided its customers with the opportunity to sign and confirm applications with biometric signature with the launch of Bi’Tıkla. Thanks to this e-commerce platform,  AgeSA reduced the application­approval process to 10 minutes, down from around two days previously. With the paper-free e-commerce platform Bi’Tıkla,  AgeSA aims to conserve 26 thousand m3 of water and save 313 trees annually by using 2.6 million fewer pieces of paper for some 100,000 contracts or policies. The platform started to be used for the sales of the Bright Side of Life Insurance product in 2019. During the pandemic, Bi’Tıkla expanded its remote paper-free sales by making it available for PPS.

A First in the Sector: Internal Efficiency Ratio

In 2020, the  AgeSA Mobile app was presented with the Gold award at the Stevie Awards in the “Innovation in Business Information” category. Continuously improving the application in line with the expectations and needs of its customers,  AgeSA introduced new functionality to the app in 2020: Internal Efficiency Ratio. This function enables PPS participants to compare their fund returns according to the inflation rate. The Internal Efficiency Ratio feature is designed to provide participants with the highest efficiency from the PPS based on economic conditions.

Entrepreneurship Support in Insurance Technologies

 AgeSA is committed to fostering digitalization in the insurance industry. To this end,  AgeSA sponsors the Insurtech Program of ITU Çekirdek – Turkey’s largest incubation center. In addition to providing mentorship support to 70 entrepreneurs at ITU Çekirdek,  AgeSA is also giving grant support for two initiatives under the program. As part of its innovation and digitalization strategy,  AgeSA continued its collaborations with the Turkish Artificial Intelligence platform and BlockChain Turkey in 2020.

People and Sustainability

Turkey’s First Private Company to Focus on Aging and Age Discrimination

 AgeSA is the first private company in Turkey to target and develop initiatives related to aging and age discrimination. Taking into consideration the evolving needs and emerging agenda items brought about by pandemic,  AgeSA launched “At All Ages,” a social responsibility initiative that raises awareness on age discrimination. This effort also includes various projects to support the elderly. With the #noage awareness campaign,  AgeSA communicated the key message “We are never too old or young to achieve.” Digital, written and audio communications and content partnerships boosted the effectiveness of the campaign.

During the year,  AgeSA delivered online trainings on age discrimination to about 1,000 employees and business partners. In addition,  AgeSA commenced efforts to make its business operations and processes more age-friendly by organizing internal workshops and volunteer projects.

Collaborating with Red Crescent (Kızılay), AgeSA reached out to 3,000 households of elderly citizens who experienced difficulties in meeting their basic needs due to pandemic restrictions.  AgeSA provided an aid package to meet these citizens’ food needs for one month. In December 2020, working in conjunction with the municipalities of Istanbul, Ankara, Izmir and Bursa,  AgeSA provided food, health and hygiene packages to 2,300 people in need over the age of 65. As part of the Psychosocial Support Hotline, young psychologists started to provide psychological support by telephone to elderly citizens in the region under the guidance of a geriatric specialist.

2021 Priorities and Industry Strategy

Future Outlook

 AgeSA targets maintaining market leadership in terms of PPS fund size among private pension companies. The company also aims to achieve growth above the sector average in life insurance. In addition to providing financial assurance and customer­oriented services,  AgeSA plans to develop innovative business models and projects to ensure sustainable growth of the sector. Embracing digitalization across its operations,  AgeSA prioritizes innovation, technology, simplicity and speed in its products, services and business processes. Continuing its efforts for cultural development since 2017,  AgeSA aims to further boost employee loyalty and satisfaction. The company places a special focus on social investments as part of its sustainability strategy. Toward this goal,  AgeSA plans further projects that will raise societal awareness on old age and aging under its “At All Ages” corporate social responsibility initiative.

Area of activity

Private pension and life insurance

Countries of activity


Number of provinces


Digital service channels and  AgeSA Mobile application (iOS and Android)

Distribution Channel

Regional and sales offices in 15 provinces, 716 Akbank branches, 336 agencies


PPS and Life Insurance

Number of customers

2.4 million

Fund size

TL 30.5 billion(*)

Market share and position

Leader in PPS with 18.6% market share

Number of employees


Sabancı Holding share



(*) Including auto-enrollment. According to data as of 31.12.2020.

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