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:

Damage of Forests In Khabarovsk Region Master-Bank Has Its License Revoked Russian MOFA Invited BBC To Make A New Film Finance Focus: Central Bank Updates Monetary Policy Guidelines SPIEF 2015 Hopes & Challenges

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
Boris Grebenshchikov  Chekhov Theater Festival   St. Petersburg Museums  Russian Literature  Eruditor Group  Tatu  Exotarium  Russian academy of sciences  Mercedes-Benz Fashion Week Russia  Arctic Sunrise  obituary  Russian sanctions   Candies  Krasnodar  Russian aviation  Film Festivals  Transaero Airlines  Georgy Poltavchenko  art house  Qiwi  Rumyantsevsky Garden  Arkady Dvorkovich  Exhibitions in Moscow  Moscow  Russian sport  Archeology  Oryol Region  animation  Russian church  Bolshoi Theatre  Painting  international cooperation  biathlon  Cities of Russia  Russian rulers  Robots  Boris Nemtsov  Russian tourism  Russian sportsmen  Modern Art  Yury Shevchuk  Russian music  Russian history  Nilo-Sorskaya Hermitage  mobile operators  tourism in Moscow  Tver region  Russian Cinema  Russian business  New Museums 

Travel Blogs
Top Traveling Sites