Taking into consideration the economic situation that has changed dramatically during 2008 for Ukraine, it is obvious that the past year was a challenging one both for the country and for the market of travel insurance especially.
During the first half of the year, IC "NOVA" maintained high dynamics in developing travel insurance. Beginning with the autumn, the number of Ukrainians tourists had reduced significantly. Consequently, the quantity of insurance agreements (insurance policies) started to drop.
During 2008, IC "NOVA" focused its activities at expanding the agent network. By the end of the year it constituted more than three hundred of partnering companies. A program of liability insurance was implemented for air tickets agents, accredited or planning to get an accreditation of The Air Transport Association (IATA).
Another area for future growth that was developed actively during the past year is insurance of warranty packages for tourism companies. IC "NOVA" is among a few market players working with this niche segment.
In 2008, the company issued more than 32 000 of insurance policies. The gained premium volume increased 1.25 times compared with 2007. 330 claims were settled and UAH 630,000 of premiums were paid. Policies from IC "NOVA" meet the requirements of the embassies in Shengen zone, of Switzerland, and Liechtenstein. They are accepted in embassies and consulates of other countries of the world as well.
Among our partners are:
- Alliance
- GTO
- Avant
- Planeta Puteshestvyi V.I.P.
- Ukr-Fin Tour
- Zolotoy Globus
During 2009, IC "NOVA" plans to further develop its portfolio on travel insurance.
