With online insurance introduction the circulation of paper policies under compulsory insurance contracts is excluded. The fact of entering into an insurance contract will be checked by sending a request to the single insurance database.
Car owners will not need to present insurance policies to the administrative police anymore.
As noted in the National Bank, the introduction of online insurance will make it possible to reduce the cost of insurance for individuals and business, sign contracts directly through Internet resources of insurance companies without visiting the office or participation of intermediaries, and will accelerate the receipt of insurance payments.
Also, insurance companies have the right to grant a discount of up to 10% when concluding compulsory civil liability insurance for vehicle owners in electronic form.
Let us remind that the relevant legislative amendments were introduced by the Law of the Republic of Kazakhstan as of July 2, 2018, No. 166-VI "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Insurance, Insurance Activity, and the Securities Market".
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