MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 28 The Company’s Board of Directors is composed of Chairperson, Vice Chairperson and seven Board members. Senior Management comprises of the General Manager and four Assistant General Managers. The benefits provided to the Senior Executives in 2018 and 2019 are given in the below table: (TL) 2019 2018 Benefits such as salary, premium, bonus, dividend etc. 6,407,452 6,146,805 Travel, accommodation, entertainment expenses, means in cash and in kind 389,728 552,139 During 2019, Milli Re continued the underwriting platform project, which aims to renew the applications used for the reinsurance operations, and also started the parallel run with the existing system. Further to the scheduled completion of the project in the first quarter of 2020, numerous applications used in the Head Office and Singapore Branch will be fully standardised and integrated. In order to improve efficiency, productivity and sustainability of the business processes of our company, the digitalization project was initiated in 2019, following the acquisition of the suitable software and phasing the business processes. While digitalisation project started with the operational processes with the aim of attaining improved efficiency, studies for reinsurance processes are scheduled for 2020. FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES