OREANDA-NEWS. October 19, 2011. "INGO Armenia" – a subsidiary company of Ingosstrakh Insurance Company - took the first place in 7 nominations in the poll "Best Competitor" and became the leader in the professional community of insurers of the Armenian domestic market. 22 top managers from 7 insurance companies of the country took part in the survey.

"Best Competitor" poll was held by Financial and Analytical Service “Marketing In-formation and Ratings Agency” (ArmInfo) for the first time using the technology similar to the poll carried out among bank specialists, which takes place every two years since 2005. The competitors’ assessment was made by the heads of insurance companies operating in the domestic market. Such aspects of business as the activity level of competing compa-nies in the market of compulsory motor TPL insurance, including resolution of insurance claims, hull insurance, cargo insurance, voluntary medical insurance, property and travel insurance came under review. Besides that, the level of management, agency network efficiency and average commissioner’s work were assessed.

After summarizing results by way of summing up the points reflected in percentage indicators, "INGO Armenia" was declared the undisputed leader of the survey. Professional market participants gave the highest estimate to the insurer’s team work. "INGO Armenia" gained a total of 74.91% and left the competitors behind.

"INGO Armenia" company has become first in the nomination characterizing its activity level in the segments of hull insurance (85.12%), compulsory motor TPL insurance (83.93%), average commissioners work (78.91%), property insurance (77,38%), voluntary medical insurance (70.75%), cargo insurance (69.05%). In “Activity level in the tourist insurance segment” nomination "INGO Armenia" has shared the first place with other insurance companies that gained the same result of 65.48%. According to the poll organizers, the subjective professional opinion of the represen-tatives of the Armenian insurance community, mostly, with insignificant distortions, has reflected the real picture of the insurance companies activity in the country. Thus, "INGO Armenia" currently occupies the leading position in the insurance market of Armenia. In 2011 the company achieved 1.5 times increase of its assets that reached 5.81 billion drams (15.7 million USD). Insurance premium collections for 9 months of 2011 amounted to 3.99 billion drams (10.8 million USD), including for compulsory motor TPL insurance – 2.2 billion drams (6 million USD). At the same time for the period from January to Sep-tember this year the total amount of indemnities paid out to the customers exceeded 1 bil-lion drams (2.7 million USD).

According to Levon Altunyan, CEO of "INGO Armenia", construction of a well-functioning system of business relations with customers has become the most important achievement of the company for 14 years of presence in the Armenian market. He emphasized that "INGO Armenia" has turned into a serious financial structure with 147 employ-ees engaged out of the company with a small team. Today the insurer’s agency network includes about 1700 insurance consultants. The company's strategy assumes introduction of new technologies in the field of finance of Armenia in general and particularly in the in-surance segment. 14 representation offices of ICJSC "INGO Armenia" operate in Erevan and other regions of Armenia.