Tuesday, March 2 2010 10:34

“INGO Armenia” reduces motor insurance tariffs by 40%


ArmInfo. “INGO Armenia” insurance company has reduced motor insurance tariffs (CASCO) by 40%, press-service of the company told ArmInfo. They managed to reduce thanks to the serious actuarial analysis of the portfolio. The minimal rate reduced from 2,5% to 1,5% of a motor price if it has 100% insurance. The size of the franchise has also reduced to 0,5% of the motor price.

As specialists of “INGO Armenia” explained, the company transfers from the common conditions of the CASCO polis to separate products for various groups of clients. In particular, a new underwriting machinery of risks assessment has started functioning, which will make it possible to reduce the level of tariffs for the clients with good credit history and for all the new clients. But for the “loss” clients with high risk index CASCO polis will cost more expensive.

To note, “INGO Armenia” is the leader of the market by the total volume of insurance fees and in the CASCO segment. According to the Ranking of Insurance Companies prepared by ArmInfo, in 2009 the company collected about 400 mln drams premiums in the above mentioned segment. In 2009 the company repaid compensations at 301 mln drams for 527 cases.
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