Motor Insurance

For the accounting period the share of motor insurance (including OSGPO) in insurance portfolio of IC "NOVA" made 65.7% of total amount of collected premiums. For the given type of insurance the amount of premiums made UAH 46,898.2 thousand, amount of insurance indemnities – UAH 23,707.8 thousand. The insurance CASCO was actively developed: total premiums made UAH 30,873.7 thousand. The total amount of indemnities for this type of insurance – UAH 17,141.9 thousand. The considerable part of insurance CASCO portfolio belongs to physical persons that corresponds to the company policy directed to increase of this indicator. OSGPO (obligatory insurance of driver civil liability) also has shown positive dynamics. The total amount of premiums for this type of insurance made UAH 14,209.9 thousand, indemnities – UAH 6,486.6 thousand. Indicators of IC "NOVA" in motor insurance are the result of effective implementation of this direction development strategy in which the main attention is given to quality of an insurance portfolio. At that IC "NOVA" follows the policy not to take part in dumping price reduction and unreasonable increase of commission charges to which many insurers have resorted. It has provided acceptable financial result of activity for the company. In 2010 IC "NOVA" actively offered actual products for consumers at competitive prices. Along with already well-reputed main programs ("Economical", "Optimal", "Ideal"), new programs were developed for the purpose of maximum satisfaction of clients, taking into account their financial possibilities, needs, style of life, etc. At the same time existing products were improved. So, products "CASCO AT HALF-PRICE (50х50)", "Special", "Economical - Chinese car", "Optimal - Chinese car", "Rush hour" and others were implemented. The company has offered a number of additional options allowing clients to save means and at the same time to get effective insurance protection. There are "Not guilty of car accident", "Before the first insured event" and others. Besides, programs of bonuses for loss-free and loss-few clients were actively used at prolongation of insurance contracts. Thus, the company has given the broad list of products and options from which clients can independently design necessary to them insurance coverage, having selected advantageous conditions and having made it more economical (to choose risks, franchise, action territory, payment variants, etc.). IC "NOVA" appreciates the clients and, therefore, in the activity it first of all applies the principle of individual approach to each of them. In connection with this, in 2010 the company actively used actions - effective tool of marketing communications. Before their implementation experts preliminary studied the market, developed the concept, and obtained results were carefully analyzed. In 2010 IC "NOVA" has proposed actions "Happy together", "Warrant of fitness with "NOVA", "Sticky discount", "Favourite make Peugeot" and others to consumers. The great attention was given to sales of insurance products through partner sales channels as it is important factor for expansion of the company presence at the motor insurance market. IC "NOVA" continued cooperation in sphere of motor insurance with such partners-insurance brokers as "AON Ukraine", "European Agency", "SB Malacut", "Insurance Advocate" and others. Such not insurance brokers as DP "Autoalliance" (authorized dealer of Nissan Motors in Kiev and Kiev region), CJSC "Westcom" (authorized dealer of Renault in Kiev and Kiev region), "RosAvto" (authorized dealer of FIAT, Alfa Romeo, Lancia, GAS, VAZ, CHERY in Kiev), "PragaAuto" (authorized dealer of SKODA in Kiev) became partners of IC "NOVA" in 2010. Within a framework of cooperation, clients of companies-partners can settle insurance contracts CASCO, OSGPO, DGO directly in automobile showroom. Besides, in the company the discount program "Club of friends "NOVA" operates with which help each client can get a discount for car servicing, call of vehicle carrier, etc. Thus, considering potential needs of clients and a situation at the market, within the year IC "NOVA" corrected underwriting policy, expanded a spectrum of services, improved a service. All of it together with effective work on claim handling has provided improvement of the company activity results for motor insurance kinds. The company intends to promote actively this type of insurance in the following too.