Ingosstrakh Concluded over 2 mln Motor Insurance Agreements in H1
OREANDA-NEWS. October 10, 2012. The number of motor insurance agreements concluded by Ingosstrakh Insurance Company in the first half of the year 2012 totaled 2,030.5 thousand, which is 70.6 % more than in the first half of 2011. 1,829.2 thousand motor insurance agreements have been concluded with individuals, and 201.3 thousand – with legal entities.
The total amount of direct accrued premiums collected by Ingosstrakh Insurance Company for motor insurance in the first half of 2012 exceeded RUB 21,126.2 m, including RUB 5,738.1 m for CMTPL (a 73.8 % increase on the same period last year), RUB 15,388.1 m – for voluntary motor insurance (a 42.4 % increase).
Within the period from January to June 2012, Ingosstrakh Insurance Company concluded 1,648.3 thousand CMPTL agreements, 1,478.7 thousand of which – with individuals and 169.6 thousand – with legal entities. The number of loss events claimed for CMPTL made 80.3 thousand (without direct reimbursement). The average amount of payments for loss events under CMPTL agreements amounted to RUB 23.8 thousand. Most payments have been made for the damage caused to motor vehicles (90.6 %), which equals to RUB 2,343.9 m. Payments for life and health damage of those injured in road accidents have not exceeded RUB 1,276 thousand.
According to the results of the first half of 2012, Ingosstrakh Insurance Company has significantly increased its CMPTL market share, and is now ranked the 2nd CMPTL insurer, being number four in this rating before. Geographical and marketing policies of the company account for such a brisk growth: Ingosstrakh Insurance Company increased its business activity in regions, and was active in the development of cross-selling. At the same time, Ingosstrakh Insurance Company took only the 24th place in the All-Russian Rating of the Biggest Insurance Companies by the Number of Claims per Thousand Agreements, which was published by the Federal Financial Markets Service in August 2012.
The total number of vehicles insured by hull insurance in the first half of 2012 has grown by 42.1 % against the last year and has made 349.6 thousand, including 277.4 thousand motor vehicles owned by individuals (growth by 51.2 %) and 72.1 thousand cars owned by legal entities (growth by 15.3 %). The total amount of direct accrued premiums collected by Ingosstrakh Insurance Company for motor hull insurance has made RUB 15.0 bn (a 42.2 % increase on the first half of 2011). The total amount of hull insurance premiums collected from individuals has grown by 49.6 % and made RUB 12.2 bn, and that from legal entities has grown by 17.1 % and reached RUB 2.8 bn.
The amount of payments for hull insurance has made RUB 8.0 bn in the first half of 2012, which is a 13 % increase on the same period last year. RUB 5.9 bn of the above amount have been paid to individual clients, and RUB 1.3 bn – to legal entities.
In the first half of 2012, Ingosstrakh Insurance Company made several payments due to abnormal acts of nature. In particular, in February – March, Ingosstrakh Insurance Company paid 9 insurance indemnities for the total amount of RUB 0.23 m to the clients whose motor vehicles had suffered from a strong hurricane in Krasnoyarsk Territory on February 7–9, 2012. In May, Ingosstrakh Insurance Company accepted claims for insurance indemnity payment from Yekaterinburg citizens who suffered from a hurricane on May 22 this year. 3 motor vehicle owners from Yekaterinburg, whose cars had been damage during the hurricane, addressed their complaints to the company. The aggregate amount of payments has made approximately RUB 0.16 m. Payments for hull insurance programs acquired in Ingosstrakh Insurance Company allowed clients to cover the loss caused by abnormal acts of nature.
It should be emphasized that according to the results of EPSI Rating research (European Performance Satisfaction Index), Ingosstrakh Insurance Company is the leader for clients' satisfaction with motor insurance (hull insurance) services. Satisfaction index of Ingosstrakh Insurance Company clients under hull insurance programs made 76.4 points (100-point grading scale). It is the highest result of the rating, which shows that clients of Ingosstrakh Insurance Company appreciate the high quality of the insurance company work under voluntary motor insurance programs.