Insurers began selling OSAGO policies on credit

Insurers began selling OSAGO policies on credit
Insurers began selling OSAGO policies on credit
22 July, 09:45SocietyPhoto: 1MI
Insurance companies have begun to offer the sale of OSAGO policies on credit or in installments. So, on credit, the service is provided by Soglasie through YuKassa, and Sovcombank Insurance intends to launch the sale of policies in installments. Experts are afraid of risks for the market if the practice spreads.

When buying a policy from Consent, the client must calculate the cost of the policy on the company's website and submit an application there. According to YuKassa representatives, in this way the insurer will receive a lump sum payment from the Credit Line MFI, and the client will have to return the funds to her. As Kommersant writes , in the Consent itself they refused to comment on the data. At the same time, the Central Bank noted that, according to the law, it is not possible to sell OSAGO policies in installments.

According to the regulator, in the first quarter of this year, the OSAGO market grew by 4.6% due to an increase in the average insurance premium. It amounted to 52 billion rubles in fees, payments - more than 40 billion rubles. At the same time, the number of concluded contracts decreased by 1.4%. Experts believe that in 2022 the market will grow by 10%.

As for policies on credit, market participants believe that those insurers that are affiliated with banks will resort to such a service. At the same time, the growth of the risky segment in the portfolio will lead to an increase in payments and the loss ratio. Moreover, the loan will provoke an increase in receivables. At the same time, insurers will not have enough reserves for payments, and companies will be forced to compensate them on their own.

Recall that due to a sharp increase in prices for spare parts for cars , the Central Bank proposed to expand the corridor of the base tariff for OSAGO for most categories of vehicle owners. It is proposed to expand the tariff corridor by 26% in both directions. At the end of 2021, the Central Bank was already expanding the boundaries of the tariff corridor for OSAGO.

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