Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

Future of Car Insurance in Russia
December 21, 2012 23:19

Photo Credit:

Insurance companies expect the number of motorists buying comprehensive insurance to grow as they begin to offer significant discounts for owners who agree to install new satellite navigation systems.

What's the buzz?

Ingosstrakh, one of the industry leaders on the Russian market, is convinced that the high tech equipment helps decrease the accidents rate. According to the results of a pilot project, motorists appear to be driving more cautiously knowing that each of their steps is monitored by the invisible system.

That's why Ingosstrakh is prepared to lower insurance premiums by 30-70 percent for prudent owners, depending on the features they install. The discounts are expected to compensate for the purchase and maintenance of the expensive gear, which will set you back some 11,000 roubles, or almost $400.

Ingosstrakh expects a growing demand for the new service, with its partner 3S-Telematika ordering 100,000 systems from the Russian Technologies corporation for next year.

Who benefits more?

According to experts, the innovation is a boon both for insurers and their customer base because it help to boost the sales of on the comprehensive insurance package while motorists are likely to enjoy more customised products like insurance by the hour for low-mileage drivers or discounts for those who drive in one particular region only.

Satellite technologies could play a critical role in another aspect – faster on-site registration of car incidents. In 2012, only 6 percent of incidents have been registered with motorists agreeing not to wait hours for the traffic police inspector stuck in a jam just several miles away. Insurers, too, will be less reluctant to compensate for the damage, without the fear of fraud – smart sensors have the capability to identify the level of impact and precise the car part hit in a collision, sensitive enough to register even minor scratches like fender-benders.


Author: Mikhail Vesely

Tags: Russian business cars in Russia Glonass insurance  

Next Previous

You might also find interesting:

Economic Benefits of 2014 Sochi Winter Olympics Moodys Lowered the Ratings Of Sberbank, VTB And Gazprombank Sanctions Against Russia Extended Wooden Stop Will Appear In Vologda reviving small-scale business

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
Victory Day Parade  Arkhangelsk Region  Russian church  Anzhi Makhachkala  Russia-USA  Tver  The Moon  Central House of Artist  Russian tourism  Novosibirsk  Skype  Contemporary Arts  Museums  Russia composers  Soviet Symbols  Painting  Russian Literature  Golden Age of Russian Poetry  tourism  Mercedes-Benz Fashion Week Russia  Sinead O'Connor  Russian aviation  Russian entrepreneurs  Eurovision  Transportation  Vladimir Gilyarovsky  Exhibitions in Moscow  Russian offshore companies  The Golden Ring   Eduard Artemiev  Pal Zileri  Segregated Waste Collection  Old Moscow  Russian business  Russian alpinism  Russian Wedding  hotel reservation  Rostov  Archeology  Music Festivals  Russian sportswomen  Moscow  Ukraine crisis  Russian history  Russian Cinema  short flights  Yuli Raizman  investment  Kazakhstan  Russian Poetry 

Travel Blogs
Top Traveling Sites