According to the Central Bank of the Russian Federation in the past year, contributions in the segment decreased by 19.2 percent, up to 317.5 billion (excluding life insurance of borrowers). The regulator explains this decline incorrect sales and increase their standards. Reduce segment was affected by the low level of profitability on contracts Investstroy life.
In the all-Russian Union of insurers (VSS) note that today, customers are entering into life insurance contracts, including investment and savings, protected from misselling.
– At the time of adoption of the decision on conclusion of the contract they, in addition to the explanations of the Manager, receive simple and understandable information regarding the terms of the contract, and then have the opportunity to cancel during the “cooling-off period” (it is 14 days), return all the money without any deductions, – said Vice-President of VSS Victor Dubrovin.
this instruction is the main emphasis in increasing the awareness of citizens, through the banks entering into the contracts of accumulative insurance. It contains warnings about all the key features of the insurance contract set forth the most clear and simple language. Specify, inter alia, the surrender value, the consequences of delay in the payment of the premium and other terms of the contract.
In the BCC noted that the new leader by the growth of charges was life insurance (NCW). Last year it grew by 64%, to 110,2 billion. This trend is confirmed by the largest market participants.
– 2019 has been characterized by the increasing customer demand for long term life insurance programs. According to the statistics of the Central Bank of the Russian Federation, the fees for life insurance contracts with a duration of 5 years or more has increased by 41 percent and amounted to 69 billion rubles, – said General Director of “Capital life Life Insurance” Evgenie Gurevich. – This growth was achieved primarily NUJ, in which the duration of contracts is 15, 20 or even 30 years. The growth in demand for endowment insurance continued throughout the year and the result was 67 percent. This is the largest growth rate among all types of personal insurance.
IC “Sberbank life insurance” in January – March 2020 signed about 40 thousand contracts of life insurance, told in the press service of the company. The largest number of agreements concluded for a period of 6 to 10 years . In this case the amount of contracts NCW is growing each year. If in 2019 the average amount of contracts it has made 880 thousand rubles in 2020 – 1 million rubles.
Insurers continue to develop new insurance products targeted at different customers and different purposes of savings.
– last year, we launched a savings program of life insurance “Your pension assets”, which allows you tothe client is to receive regular, stable payments on a predetermined schedule, – said Evgeny. In accordance with their capabilities, the client determines for themselves a comfortable amount of contributions (which you can change) and the term of the accumulation period and the start date of the period of pension payment. The policyholder gets a decent boost to state pensions or private resource to preserve the quality of life at retirement. We see great potential in the development of such programs, especially in light of the possible participation of life insurers in pension reform as one of the providers of a guaranteed pension plan.
Insurers also point out that in the current environment it is particularly important to ensure uninterrupted remote work only with regard to the settlement of insured events and payments thereon.
We have implemented such a service in the beginning of last year, so had the opportunity to test it in quiet mode. Even before the pandemic the remote settlement was used by 30 to 50 percent of the customers, – said Evgeny. Now this proportion is growing in the framework of the introduction in various regions of the isolation mode.
In “Sberbank life insurance” confident that the situation with coronavirus will encourage people to think about the necessity of insurance, and expect growth of demand for products of life insurance, including, at the NUJ. “While March 31, on contracts funded, investment and voluntary life insurance, our customers can perform operations after-sales service remotely, without leaving home,” added the company.
Also “Sberbank life insurance” and “Sberbank insurance” provided to customers affected by COVID-2019, the possibility to delay payments of multi-year contracts of insurance of life and health mortgage borrower, contracts, NCW, mortgage property insurance, is decorated at any time, as well as under insurance contracts collateral of corporate customers. The products of IC “Sberbank life insurance” for mortgage borrowers, credit card holders and borrowers of consumer loans products “Airbag” and “Savings insurance” provide for coverage of risks of death and disability of group I or II, including due to the coronavirus.
