XPRIMM: As we are slowly heading into the final months of 2015, which are the major challenges the Council of Bureaux is facing right now and, of course, in the near future?
Jean ZENNERS: Well, the year has almost ended, but I think the challenges will remain the same for the next year. The first major challenge for the system is financial stability, which is the main topic we have to care about. We cannot assure the good and smooth handling of international claims if the financial stability of the Green Card System is not assured. That's why I and my colleagues in Brussels place a lot of importance on the financial stability of the system as a whole and of each and every of its members. This is a topic for this year, will be for the next one and it's not a secret that it will remain for the years to come.

Also, another role of the Council of Bureaux is derived from the 4th MID (Motor Insurance Directive) system which is enforced within the European Union only. We are presently working on putting those two systems together in order to work more efficiently and better coordinate the two protection frameworks. At the moment, we have to sometimes do a lot of work twice. Therefore, we are trying to find the best solutions to provide the highest degree of efficiency and accuracy for both pillars.

XPRIMM: You pointed out financial stability. Have things changed over the past few years? Are certain countries or certain bureaus facing problems?
Jean ZENNERS: Financial Stability is not an entirely new issue for the Council of Bureaux. We have to keep in mind that the world went through a big economic crisis, one which I think changed the world and also influenced the Council. Of course, these risks which were discovered within the banking system, mainly during the first years of the crisis, have shown us that we also have risks within the Council of Bureaux and that we have to take care of its financial stability. Of course, there are weaker and stronger bureaus. The main challenge for us is to supervise the system as a whole, to help and assist bureaus that may encounter difficulties and help them find adequate solutions to their problems. I would like to emphasize that our goal is not apply sanctions or to put pressure on certain bureaus but to help them identify and implement the right solutions.

XPRIMM: Are there any consequences of the current geopolitical situation in Ukraine, between Russia and Ukraine, as far as the Green Card Council is concerned?
Jean ZENNERS: Not for us. We are a technical organization. We do not mix up with political issues. We find technical solutions.

XPRIMM: Do you believe that motor insurance or green card insurance is very price sensitive in terms of customer perception? Could this be what leads to financial instability of insurers?
Jean ZENNERS: This aspect depends on a lot of factors. We have 46 markets and it is fair to say that there is not a general rule that applies to all of them. Generally speaking, I don't know many markets in Europe which succeed in making money out of the MTPL line, being it domestic, being it Green Card. MTPL is, in my opinion, a business which is cost intensive and claims' costs are going up. To believe that by decreasing premiums and gaining market share and at the end of the day making profit, well, I'm not sure it is the best idea, especially when it is combined with other factors, like high commissions and high levels of uninsured driving. This calculation might not be the most appropriate when trying to make profit.

XPRIMM: Fraud is actually a very sensitive topic right now for all European countries, for all motor insurers. Which is your opinion on this matter? Which are the main trends regarding fraud?
Jean ZENNERS: Fraud is a problem for every market. It is generally estimated that somewhere between 10 and 15% of all paid claims are fraudulent. Is not a phenomenon specific for a certain type of market, it is a phenomenon present in each and every market in the Green Card System. Some fight against it more efficiently, some do not, some are more affected, while some are not. Within the Council of Bureaux we have a special working group on fraud. We try to find solutions to avoid it as much as possible and try to make our members aware that the Bureaux has to establish an anti fraud policy and then the members of the Bureaux can be helped by it. The first thing we have in mind in this regards is that members must be aware of this threat and they need to take precautions. Frauds are scandalous because honest drivers are affected by it. You and I pay for it so it's our responsibility to fight against it. We have to make sure that the premiums are used to pay honest claims and compensations for victims and by no means to finance fraud.

XPRIMM: Which segment is more exposed to fraud: material damage or bodily injury claims?
Jean ZENNERS: I think this is also an issue that is specific to every market. Perhaps, material damage is a little bit exposed, because it is easier to commit fraud. But fraud is not encountered only in MTPL. In medical insurance fraud is very frequent as well.

XPRIMM: Regarding Romania, can you give us your opinion on the current status of the country within the Green Card System?
Jean ZENNERS: I'm very satisfied for the moment with the status of Romania. The Romanian Bureaux does good work within the Green Card System. The CoB has a relatively small team in Brussels, so we depend on our members sending good people to help us within the various committees and working groups. And Romania is one of the bureaus which is very active, as well as the Romanian Guarantee Fund. For the moment I am very positive about the role of Romania within the system.

XPRIMM: Are there any Romanian companies that have problems in paying the Green Card claims?
Jean ZENNERS: I'm not aware of any Romanian companies having problems to pay their Green Card claims. It is always good news when everything is paid on time.

XPRIMM: Is the Green Card System currently expanding?
Jean ZENNERS: We will have a new member starting with 1st of January 2016. Azerbaijan will become our member. Apart from Azerbaijan, I don't have, for the moment, an official requests from other countries to become a member. You know that our geographical scope is not unlimited. The only European countries which are not members are Georgia, Armenia and Kazakhstan. There are other countries which could become members along the Mediterranean Sea, but for the moment I think they have other problems than to apply for membership in the Green Card system.