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Central Bank to Rate Quality of Russian Insurers’ Services

6 June 2018
ЦБ создаст рэнкинг страховщиков РФ по качеству их работы

Moscow. 6 June 2018. INTERFAX.RU. The Bank of Russia intends to rank insurance companies based on the quality of their services, said Sergey Shvetsov, First Deputy Governor of the Central Bank of Russia, at the 16th International Conference on Insurance.

“Today we are discussing digitalization, including the insurance industry, which means that every insurance company comes closer to the consumer, where the latter pays careful attention to the quality of the former’s services. The Bank of Russia intends to rank the quality of insurance companies’ services and make this information available for consumers. Price is not always the leading factor in choosing the insurance company,” he noted.

Mr. Shvetsov added that the growth of demand for OSAGO (third party liability insurance) e-policies surpassed the regulator’s expectations.

“Therefore, OSAGO should be one of the first products available on the Marketplace as a standard product with a regular wide choice of companies offering it, and with a large sales volume: about 40 million policies, based on the number of vehicles sold in Russia annually,” said the First Deputy Governor of the Central Bank.