Experts: electronic insurance in Russia will grow at a faster pace

© Photo courtesy of JSC Goznak Electronic insurance insurance policies. Archive photoExperts: electronic insurance in Russia will grow at a faster pace© photo courtesy of JSC Goznak

The electronic segment insurance (excluding CTP) will continue to grow faster than the market pace through the introduction of high technology, considered in the rating Agency «Expert RA» (RAEX).

So, he predicted, the amount of premiums excluding a CTP by the end of this year, e-insurance will reach 6 billion rubles, and by the end of 2019 — 8-9 billion.

«The support segment will have active implementation by insurers of the new high-tech solutions and improve client remote services sales and after-sales service (online-shop for voluntary, personal account of the insured, a mobile application, the marketplace),» — said in the text of the study conducted by the Agency.

According to a survey of 63 insurance companies, whose total market share in the insurance market exceeds 90%, it was found that at least 70% of them are planning in the coming years to invest in new it products and solutions, and only 8% declined from investments in high technology.

Among the factors that may hinder market growth, RAEX called the instability of the national currency, the growth rate of loans and the decline in consumer and mortgage lending.

Also, according to «Expert RA», the largest segment of e-insurance contributions in the first half of steel of the company «Alfa insurance» (7.2 billion rubles), «RESO-Guarantee» (6.5 billion), «Ingosstrakh» (5.3 billion), «SOGAZ» ($3.7 billion), and five closes the group VSK (about 3 billion).