The President signed the Law of the Republic of Kazakhstan "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Insurance and Insurance Activities, and the Securities Market". One of the most anticipated changes is the opportunity of purchasing online policies through company websites. According to Oleg Khanin, the chairman of the board of the insurance company Kommesk-Omir, online insurance is to be introduced on January 1, 2019, until then the printed form of the compulsory insurance contract of legal liability of vehicle processors.
Executive Director of Eurasia IC Shakir Iminov assumes that the procedure for purchase of online policy will look like as follows: a client fills out the form on an insurance company's website, calculates the cost of the policy with insurance calculator, sends the application, and checks out the rules of electronic insurance. Upon agreement with the agreement’s terms, the customer pays for the service with a credit card. "On successful registration and purchase of the electronic policy of the legal liability of vehicle processor, the insurer sends a PDF file to the client by mail, signed with an electronic signature. Now the company’s client when buying the policy does not receive any documents in paper form, and the electronic policy is a full confirmation that the driver's responsibility is insured," Mr. Iminov said.
Despite the fact that as of January next year all contracts for compulsory insurance classes will be in electronic form, voluntary classes will remain in paper form. "Requirements for online conclusion of insurance contracts apply to all nine classes of compulsory insurance, there are no requirements to voluntary types, there is the insurance company’s right to provide electronic insurance contracts," Oleg Khanin said.
Specialists of Amanat have explained that voluntary types of insurance contracts that can be concluded in electronic form will be determined by insurers on the basis of insurance rules placed on the Internet resource.
However, the cost of compulsory types will not increase, moreover, when buying an electronic policy, the insurer has the right to give the customer a discount of no more than 10%.
Site technical availability
Currently, companies are preparing for implementation of electronic policy, developing information systems, a personal cabinet of the insured in particular, where the client can see his insurance history. As for the costs of innovation, they will not be significant.
"Most likely, information platforms and software will remain the same. Since the insurance contract will be concluded through the exchange of electronic documents and exist in a non-documentary form, the changes will affect technological and integration processes. Also, the insurance company must provide an opportunity to pay insurance premiums through its corporate Internet resource," said Oleg Khanin.
In "Kommesk-Omir" believe that the service will begin to be used mainly in large cities. "Many customers will still come to offices for confirmation of insurance; here you can draw an analogy with air tickets, you need some time to online insurance become wide-scale. In 2015, when online insurance was introduced in Russia, less than 1% of the total numbers of insured car owners were using it. In 2017, this number has already grown to 20%," summarized Oleg Khanin.
"Eurasia" insurance company also does not expect the online segment will become popular at once, as even during the registration process car owners can face technical failures. "In our opinion, it will take several months to improve this system. “We will see a fundamental breakthrough in this sales channel approximately in three to five years,” concluded Shakir Iminov.
Photos per websites: ams-agency.com, kursiv.kz