Rosgosstrakh Armenia makes its one millionth MTPL policy

ArmInfo. Rosgosstrakh Armenia Insurance Company made over 1 million motor third party liability (MTPL) policies by October 1, 2015. It is the only insurance company in Armenia to make its one-millionth MTPL policy.  According to Rosgosstrakh Armenia press- office, this fact speaks of the high level of consumer trust that company has been enjoying during the five years of its operation in the country. 

According to the website of the Bureau of Motor Insurers of Armenia, Rosgosstrakh Armenia has been the leader by MTPL policies, indemnities and the average amount of indemnities since the day that compulsory insurance line was introduced in Armenia. 

"Regular opinion polls conducted among drivers show that these three criteria are most important ones for them. The next important criterion of assessing an insurance company is the prompt responding to requests.  Thanks to its experience, highly qualified staff and optimized business processes, Rosgosstrakh Armenia pays indemnities within short period of time," the source reports.

If a policy owner submits all the necessary documents, an indemnity is paid within 3-5 days instead of the envisaged 14-21 days. The Company has already served 106.000 road accidents paying indemnities to over 71,000 people.  The financial ombudsman's office received 479 complains for the given five years, which is only 0.67% of total number of indemnities.

"One million MTPL policies is a solid figure. It is not for nothing that we are the first to achieve this level.  It is a logical result of the hard work of all our employees. This indicator speaks of the high level of trust of our customers. We are very grateful to them.  It is a high responsibility for us. It is a colossal experience for us. We use it to keep improving our services. This is our strategy which helps us serve the biggest number of customers in the given segment of the market," says Gagik Grigoryan, Executive Officer of Rosgosstrakh Armenia.

According to ArmInfo's Ranking of Insurance Companies, in the first half of 2015, Rosgosstrakh-Armenia collected 3.2 bln drams MTPL premiums - by 9.3% less than a year ago. Nevertheless, the company was the leader in the insurance market of Armenia with 5.2bln drams premiums. The MTPL indemnities for the given period totaled 1.5bln drams - by 19.8% less than a year ago.  MTPL premiums accounted for 61.7% of total, with MTPL indemnities accounting for 69.9% of total.  For the first half of 2015, the company made 56,075 policies, which the total number of effective ones reaching 137,005 for the end of the quarter. 

ROSGOSSTRAKH ARMENIA" CJSC was established in Armenia in 2008.  It operated on the basis of the Central Bank's license No.0009 issued on May 20 2008 for non-life insurance policies. The company is a subsidiary of ROSGOSSTRAKH Russia group of companies. The legal capital of the company totals 4.5 bln AMD.  The company runs 47 offices in all towns of Armenia with 18 branches and 13 sales offices in Yerevan and 24 in the regional centers and cities in Armenia. In Dec 2011 "ROSGOSSTRAKH ARMENIA" was the first in the insurance market of Armenia to get the certificate of compliance ISO 9001:2008 from Moody International.