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The Motor (Transport) Insurance Bureau of Ukraine presented the performance indicators of insurers-associated members of MTIBU, the so-called «Traffic Light», for the 4th quarter of 2016.
According to the indicator «Assessment of the insurer's performance», a high level was noted in 51 insurance companies, an average level in 3 (according to the results of the third quarter, 53 companies had a high level and one - average). A significant decrease in indicators occurred in the company «ASKO-Medservice».
According to the indicator «Quality of loss settlement» 26 insurers showed a high level of settlement, 26 - an average level, 2 - a low level (according to the results of the third quarter, 34 insurance companies had a high level, 17 insurance companies - an average level and 3 insurance companies - a low level).
According to the indicator "Level of complaints from victims and policyholders", 41 insurance companies showed the best results, 7 companies showed the average level, 6 showed the worst results (according to the results of the third quarter, 39 insurance companies received the highest indicator, 10 - average, 5 - the worst).
Improvement of the indicator according to the indicator "complaints against insurers" occurred in «Kharkiv Municipal Insurance Company», «Skarbnytsia», «Providna», «Oranta», «Mega-Garant», «Euroins».
The deterioration in this indicator was demonstrated in Insurance Company «Brokbiznes», «DIM Strahovannya», «Kyivskyi Strakhovy Dim», «Kredo», ST «Garantia».
The assessment was carried out on a 3-point scale: green - «good», yellow - «satisfactory», red - «unsatisfactory».
In the fourth quarter of 2016, MTIBU received 209 complaints about the activities of MTPL insurance companies (31.9% less compared to the third quarter of 2016 - 307). The largest number of complaints was received about the activities of the companies «UTICO» - 36 (Q3 2016 - 46, Q2 2016 - 101) and «Kyiv Re» - 16 (Q3 2016 - 10, Q2 2016 - 14). The bureau also received 13 complaints each against the companies «Providna», NASK «Oranta», «Kyivskyi Strakhovy Dim» and «Alfa-Garant». ST «Dominanta» did not consent to the publication of information on this indicator.
| No. | Insurer | Number of complaints, pcs. | Ratio of complaints to the number of settled cases,% |
| 1 | UTICO | 36 | 11.25 |
| 2 | Kyiv RE | 16 | |
| 3 | NASK Oranta | 13 | 0.49 |
| 4 | Providna | 13 | 0.56 |
| 5 | Alfa-Garant | 13 | 1.85 |
| 6 | Kyiv Insurance House | Kyiv Insurance House | 5.71 |
| 9 | Globus | 7 | 0.94 |
| 10 | SG TAS | 6 | 0.31 |
The share of the TOP-10 insurers in the 4th quarter in the total amount of insurance premiums of Avtocivilka was 54%. In terms of insurance payments, the top ten insurers pay more than 57% of insurance claims. The payout level was 47%.
| No. | Insurer | Premiums, UAH. | Number of contracts, pcs. |
| 1 | NASK Oranta | 69 144 413 | 176 438 |
| 2 | Leading | 66 961 731 | 159 172 |
| 3 | SG TAS | 55 763 683 | 127 509 |
| 4 | UPSK | 44 966 865 | 101 699 |
| 5 | UNIKA | 42 058 692 | 83 822 |
| 6 | Knyazha | 40 793 766 | 94 607 |
| 7 | AHA Insurance | 37 862 649 | 57 838 |
| 8 | Ukraine | 37 596 322 | 65 784 |
| 9 | Unives | 34 622 717 | 50 380 |
| 10 | VUSO | 28 916 930 | 50 357 |
| . | TOTAL 54 SK | 397 507 647 | 28 628 |
| No. | Insurer | Payments, UAH. | Number of settled claims, pcs. |
| 1 | Leading | 32 595 981 | 2 341 |
| 2 | NASK Oranta | 28 129 029 | 2 649 |
| 3 | AHA Insurance | 27 275 730 | 1 889 |
| 4 | SG TAS | 24 434 431 | 1 921 |
| 5 | Prince | 24 110 956 | 1 728 |
| 6 | UNIKA | 23 913 391 | 1 572 |
| 7 | UPSK | 22 356 555 | 1 554 |
| 8 | ROM Ukraine | 21 281 961 | 1 399 |
| 9 | Arsenal Insurance | 12 158 215 | 826 |
| 10 | VUSO | 845 786 346 | 1 695 912 |
The gradual reduction in the period for settling losses continues. Insurers are actively improving insurance settlement procedures, the Bureau said. The introduction of direct settlement also played an important role in the process of improving the service.
The settlement speed of 24 insurers is higher than the average market indicator. The average settlement period during the quarter decreased by 15 days and amounted to 114 days from the moment of the accident.
76% of cases are settled within 120 days from the accident (+ 5% compared to the result of the 3rd quarter of 2016).
- «The quality of settlement continues to improve. Among the insurers that are most likely to settle insurance cases, the 5 leading companies in the Autocivilka market, the remaining 5 are small and medium-sized companies. We expect that the introduction of direct settlement on a general basis for all companies will allow us to further reduce the speed of settlement so that the best service is available to every driver,» - emphasized Volodymyr Shevchenko, General Director of MTIBU.
Source: Forinsurer
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