The insurance market of Ukraine is working out the question of collective security and information support of insurance companies
Date: 27.01.2017. Section: News LIOU, ActualJanuary 27, 2017 in National Commission for State Regulation of Financial Services Markets with the support of the League of Insurance Organizations of Ukraine was held the Round Table “Collective security and information support of insurance companies”, devoted to defining the best ways and reliable tools to solve problems of insurance business relevant and reliable information.
The meeting was opened by Member of the National Commission for State Regulation of Financial Services Markets Zaletov Alexander, who told about the international experience in information support of insurance markets, gave examples of effective associations of insurers that prevent insurance fraud in the world, and noted that insurance, primarily social product and for the positive outcome of complex bills submitted to the Verkhovna Rada of Ukraine should be worked out and agreed with all market participants.
Valery Suksin, director of “Tineks”, described the expert evaluation of risks and threats in the insurance market of Ukraine, based on a survey, conducted by the company in January 2017. Among surveyed experts in the insurance market of Ukraine, top managers of companies – 55%, managers – 18%, experts on settlement – 16%, experts and security underwriters – 6% and 5% respectively. Valery Suksin said that given the size of insurance payments insurance market in Ukraine up to 7 bln. UAH. / year, the amount of claims that could have been avoided if better information on them is 21% or about 1.5 billion . UAH. This level possible attacks on the insurer funds for individual products is 25% – voluntary medical insurance; 23% – hull; 18% – MTPL, 16% – responsibility; 14% – traveling abroad; 12% – property and 10% – an accident.
With information about how may be helpful to the insurer cooperation with already practicing bureau of credit stories performed Dmitry Ostapchuk, head of the “Ukrainian credit bureau.”
About changes to the Law of Ukraine “On Organization of Formation and Circulation of Credit stories” and prospects of cooperation with insurers said Vasily Glazunov, Vice-President of the Association “Credit Bureau of Ukraine.”
Oleg Gerasimenko, director of the “Nationwide insurance history” presented one of the tools that can be effective and credible information support business insurers.
LIOU President Alexander Filonyuk stressed that the situation will change the legal definition of “insurance fraud”, the objective statistics of the insurance market in these areas, and to solve the problem of insurance fraud will make the appropriate changes to the Criminal Code of Ukraine. LIOU President also recalled that for many years LIOU has been active thoroughly covering the topic combating insurance fraud and bringing to market experts to work on this issue within the relevant committees of LIOU, because it is – a common problem for all insurance companies.
The round table was attended by heads and representatives of insurance companies responsible for the areas of underwriting, claims handling, economic security, actuarial, media representatives and other representatives of the insurance market of Ukraine. League of Insurance Organizations of Ukraine presented LIOU President Alexander Filonyuk and director of LIOU information policy department Irina Denisova.