Insurers undertook the digitalization. Sprucing up not so much the growing consumer demand for online services, how much fear these consumers to lose after the opening of the Russian market for subsidiaries of foreign companies.

On the eve of the intervention

In the mobile app Limonade payment of insurance premium is three seconds. The user (available so far only in the U.S. — in new York and Illinois) a few clicks can insure the property and the car, stating the place of residence and answering a few questions, and artificial intelligence selects for his insurance proposal. With a few clicks in the app you can report the insured event and automatically receive the payment in 30 seconds.

“Only in startups in Insurtech abroad annually invest $ 2.2 billion — said the President of the Russian Union of insurers Igor Jurgens. We alone afford it can not. Meanwhile, in 2021 foreign insurance companies will receive direct access to Russian customers, in accordance with the WTO agreement. Of course we will defend ourselves, but the consumer-that wants to come and those who provide services cheaper and faster.”

After 2021 the market will definitely be faster and more interesting, including the high level of digitalization of foreign insurers, which can be a problem for domestic companies. So for them the main thing now — to sleep through the digital revolution, according to the managing Director of the Association “FINTECH” Tatyana Zharkova. Western counterparts, according to forecasts, this year invest in Insurtech about $ 6 billion, which is twice more than in 2018.

In Russia, the insurers not to sleep, but wakeful not call them. While the bold experiment in terms of “digitalization” of insurance can be considered earned from 1 November 2019 mobile app is an “Helper insurance” that allows you to arrange an accident for 15-20 minutes. But it is available only in the five pilot regions. When the end of the test period, the app’s creators find it difficult to answer.

In addition, RSA is working to create a platform that gathers all the data about avtostroitelei, and in the future and the holders of all other types of policies. “Its appearance will lead to the fact that almost created in China, says the head of SCD. This country is hung with cameras and it does not have a law on the protection of personal data. As a result, the insurers know everything about all the policyholders and have no doubt that, so in the accident that cost the equivalent of 60 thousand rubles, the payment is made within ten minutes. Russia because of the constant prohibitions risk never to catch up with China or Europe on speed of registration of the insured event. Our state does not trust insurers, they in turn do not trust the insurers, and the circle closes”.

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To kill a insurer

A breakthrough in the field of digital technology, the West has done by investing in startups since 2010.

“It’s called destruction of the insurance market, that is, the destruction of the traditional insurance market for the sake of creating a completely new reality, — says Igor Yurgens. — It has insurance companies in the US, Europe and China in the near future will compete not with each other, and with Amazon, Facebook, Google and Alibaba. If we do not make our destruction, then in 2021 we will be forced to surrender to these monsters”.

In total there are about 2 800 insurtech companies — about 20% of all companies that develop digital financial products. Of these 20% of “new” insurers, only 3% was transformed from a classic insurance, the other is a high — tech company, created from scratch either as divisions of existing insurers. Techies, not the insurers.

Russian companies, too, are on the way. For example, from 500 employees “Tinkoff Insurance” insurers only about ten people. “The rest is a mathematical youth, — has told on the forum Finopolis CEO Ivan Mironenko. — At first, we broke each other, but eventually agreed and learned to live together.”

“Absolute Insurance” created for the introduction of digital technology a separate company “Absolute”, where out of 80 employees, only three have experience in the insurance sector. “If you can buy a book or a ticket for three minutes, then it should be with the policy, and also settlement of losses”, — said General Director of “absolute Insurance” Dmitry Rudenko. In early autumn, the insurer launched an online platform for personal insurance services Mafin, which can be used to get comprehensive insurance and regulate the insurance case. Unlike insurance, where the conclusion of the contract the insurer does not need to inspect the vehicle, in hull it is needed. The platform allows the remote to do everything from the inspection of the vehicle, the fare calculation before the settlement of the insured event. According to General Director Mafin Alexei Timonina, the service analyzes more than 70 indicators and relationships between them using a machine learning algorithm.

“The alpha-Groups” has gone even further. In addition to the classic insurer AlfaStrakhovanie group launched separately, another insurance company — “Mango Insurance” having invested 2 billion rubles. The analogue of the above-mentioned American Lemonade differs from the classical SK model sales: any offices and insurance agents. Further, in addition to sales of own policies, “Mango” could be the marketplace by providing services for the sale of policies of other insurers in the Russian market. A startup headed by Victor Lavrenko, IT developer, prior to that, engaged in the development of search engines in Russia and Vietnam.

Each his own

What other technologies try domestic insurers?

The vast majority improves online sales policies. Their share in the total volume of premiums, according to forecasts of the analytical Agency “Biznesprom” in the current year will reach 6% (last year this share was 5.1%).

SK “Capital life” Life Insurance in October launched the option of paying insurance premiums via the mobile payments system, Apple Pay, Google Pay, and Samsung Pay by any Bank card connected to the mobile wallets Apple Wallet and Google Wallet. According to General Director Yevgeny Gurevich, if you purchase these systems use individual device number and unique transaction code. The card number is not stored neither on the device nor on the servers of companies like Apple and Google. And because payment is fingerprint and face, or a unique digital password, no one except the owner of the smartphone will not be able to pay.

“Renaissance Insurance” eighteen months ago, launched a comprehensive process of settlement of insurance claims for hull and property insurance of individuals through the WhatsApp messenger. With its help, the insurer can send pics documents when the insured event, get advice, learn the timing of the decision and to obtain a referral for repair. A new channel of communication has proved to be popular through WhatsApp, email and mobile app company “the Renaissance Insurance” will settle more than 40% of all insurance claims, the share of the settlement through WhatsApp and Viber exceeded 15% of all insurance claims for hull and 40% on property insurance of natural persons. “Soon we’ll run the solution through WhatsApp the most mass segment — insurance. This will radically change the client path and significantly increase the level of customer satisfaction,” suggests the Vice-President, “Renaissance Insurance” Vladimir Tarasov.

In the company “Rosgosstrakh Life” artificial intelligence ready to be used for the preparation of the financial portfolio of the client to select the most suitable insurance product. With this system it is also possible in the parent structure, the Bank “Opening”, to offer the customer a set of tools to a financial portfolio (Bank deposits, life insurance, MIS, mutual Funds, etc.). “To offer the optimal financial portfolio, the online platform analyzes information about the financial condition of client, client’s savings, income and liabilities, and takes into account socio-demographic parameters — for example, whether a person has small children or elderly parents, financially dependent on him. It also assesses the propensity of the client toward risk: what level of losses he is prepared, on which income from investments claims, with some investment horizon accept”, — says marketing Director of SK Ekaterina Yakushkina.

Insurance for a day, and not just

The policy sales are not limited. About half of insurers provide the opportunity for online settlement of the insured event.

AlfaStrakhovanie launched a new system of registration of insurance cases CTP based on SAP Cloud Platform, using modern technologies of recognition and voice. The company’s CEO Vladimir Skvortsov considers that the impetus for the development of digital insurance policies will be the state services creating “digital profile citizen.” “In this case, we’re going to see on the citizen with comprehensive information and we will not need verification of documents — whether on a car or property, — he said at Finopolis. — This will lead to a completely different level of interaction between insurer and client, and allow EN masse to run services such as instant settlement of losses. For example, in case of delay of flight. In our company, this service is already working: we produce a payoff, independently obtain information about the delay of the flight, which was supposed to fly to our customer. Perhaps in the future we will be able to learn about what’s happening with our customers is an accident or that someone from policyholders got sick. And accident insurance on the Golf course will turn on automatically when crossing its borders, as is happening abroad.”

These technologies have been successfully used in Europe. In case of delay or flight cancellation, the insurance company pays out automatically in online mode. But the technology works only when you do not need to estimate the amount of loss, to investigate the circumstances of the incident and if you have access to the data on the basis of which a decision is made.

From the international practice of domestic insurers get other ideas. For example, the insurance community for more than a month discussing the possibility of equipping vehicles with telematics devices that will give the insurer information about the manner of driving of the insured, about how he is prone to the risk how often uses car and other parameters. They are required to apply the principle of pay-as-you-drive (“pay as you drive”), when prone to dangerous driving drivers do not have to pay the rest. Initiative voluntary installation of such devices found even reflected in the already introduced in the state Duma the bill of the Ministry of Finance on the reform of the insurance, but last week, Vice-speaker of the Federation Council Nikolay Zhuravlev said that the question requires further study and will be included in a separate bill. While in Russia, working on issues in Europe, telematics is already being used. It is most popular in Italy, where every ninth car equipped with such a device.

Another Western practice is car insurance for a short period. English company Cuvva and two American insurer — Trov and Slice — a few years ago suggested that the hull policies not on the calendar year and for the period during which the driver uses the car. If, say, he travels once or twice a week, you can “enable” the insurance only on these days. The rate will be higher, but the client still wins because the other five days does not pay anything. Russian insurers discuss this idea is only in theory. As the ability to bind insurance coverage, not the vehicle and to the driver.

In the field of property insurance foreign start Cape offers Analytics to analyze aerial photos and transfer to insurance companies information about the physical condition of the property and the risks associated with the object. In Russia the similar project — creation of a flood — are already implementing all-Russian Union of insurers and the national reinsurance company jointly with Roshydromet and the structure of Roscosmos “Russian space systems”. The map presented in the current year, and in the future it will complement areas the risk of fire and earthquakes to the insurance market participants could use information about potentially dangerous places when calculating insurance premiums.

With high probability we can assume that in the near future, insurers will be interested in technology that enables them to learn more about customers and insurance. After all, this will depend on the correctness of the assessment of risks of insurance. So, the profitability of the business.


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