Centrul European de Despăgubiri (CEDE), a Polish company specialized in helping victims of road accidents receive due compensation and benefits from insurance companies, is estimating that in 2018 it will beat the results from the previous year as it strengthens itself on the growth path. In 2017, the company has reached approximately RON 25 million in revenues and almost RON 9 million in profit, a significant increase compared to 2016 when the revenues were more modest, of RON 4 million. CEDE is a fully-owned subsidiary of EuCO Poland, a company listed on the Main Market of the Warsaw Stock Exchange. CEDE has been present on the Romanian market since 2012.
The services offered by CEDE target mainly individuals who have suffered physical damage correlated with a civil liability policy or families of persons who have lost their lives in transport accidents. The company provides professional and individual service from the beginning to the end of each case to access the highest possible compensation from insurance companies to its clients. CEDE’s mission is to bring professional and financial aid in a format that does not require any financial engagement from the client’s side while educating the market about the rights to compensation of those involved in road accidents. The company has already won a number of high-profile cases in Romania and has been constantly increasing its position on the local market, currently being the largest company of this sort present on the Romanian market.
The company has over 2,900 cases notified as of the second quarter of 2018, having a total value of RON 260 million. CEDE is closely collaborating with all the insurance companies present in Romania as well as is actively involved in the process of providing information to the general public regarding their rights in the event of communication accidents.
“Apart from further growing our presence on the Romanian market with services offered by CEDE, we are also looking closely at introducing other companies from our group, that are already present on the Polish market. In this regard, we are currently seeking means of financing our expansion and we hope to begin the process of expanding our operations in Romania in the second half of 2019,” said Krzysztof Lewandowski, President of the Board of Directors at EuCO.
Due to certain characteristics related to the Romanian market, including the large population, appropriate market scale as well as conducive legal regulations, Romania has been the key focus for the management of EuCO, the mother company. EuCO has also been active in other CEE countries including Czech Republic, Hungary as well as Slovakia however Romania remains a top priority for the management, because of its large potential for growth.
“We are proud to have already supported over 10,000 clients in Romania since the establishment of our operations. Our goal is to become a landmark company for providing assistance to persons involved in road accidents and we are dedicated to reaching this goal through providing education to Romanian population regarding what are their rights and what they are entitled to in terms of compensation. In order to be able to accomplish this, as well as handle the increasing number of cases we are involved in, we have been significantly increasing our staff in the course of past 2 years, currently having over 50 employees in our headquarters as well as 5,000 agent-collaborators who represent CEDE through the whole country,“ said Michał Karewicz, Country Manager at CEDE Romania.