Are paper policies a thing of the past? More and more motorists are applying for electronic compulsory motor insurance

CrimeaPRESS reports:

The issuance of electronic compulsory motor third party liability insurance policies became available on July 1, 2015, and in the first six months of e-MTPL existence, 56 thousand motorists issued a policy online. Over the next year, when insurance companies did not yet have any obligations to sell electronic MTPL and many of them had the corresponding option as an additional option, 330 thousand e-MTPL were issued.

Since January 2017, insurance companies that are full members of the Russian Union of Auto Insurers (RUA) are required by law to provide clients with the opportunity to purchase an MTPL policy electronically. From that moment on, the active growth of e-MTPL registration began.

As they say in RSA, the increase in the number of electronic compulsory motor liability insurance every year is associated with the digitalization of society and the convenience for policyholders in online registration of the mandatory “motor citizenship”.

The ability to purchase goods and services online extends to many areas. However, the MTPL market is one of the leading digitalization industries in the country. Since the existence of the possibility of issuing compulsory motor insurance online for an increasing number of people, purchasing such a policy has become a convenient and familiar system when there is no need to go to the office of the insurance company. To apply for e-OSAGO, the driver must register in his personal account on the website of his insurance company and fill out an application. The data specified in it will be verified through an automated information system, – quoted by the press service of RSA President Evgeny Ufimtsev.

According to the expert, the electronic OSAGO registration system is the most comfortable for motorists and an increasing number of drivers prefer to issue an online policy. This is evidenced by the increase in the share of electronic compulsory motor liability insurance compared to the share of paper policies. Thus, in 2019, the share of compulsory motor vehicle liability insurance in the electronic version amounted to about 45.7% (16.7 million policies) of all sales of compulsory motor vehicle insurance. At the end of 2020, the share of e-OSAGO was already 50% (17.8 million) of all policies sold. Then it crossed the mark of half of the policies sold and two years later amounted to 57.8% of all compulsory motor vehicle policies sold in 2022, and the number of electronic MTPL policies sold increased by 9% compared to 2021 (from 21.4 million in 2021 to 23.3 million in 2022).

For the period from January to September 2023, the share of electronic policies was greater than for the entire last year — 61%. And the number of e-MTPL sales turned out to be 9.5% higher than in the same period in 2022 (18.9 million and 17.2 million, respectively).

Let us remind you that in order to issue an electronic policy, the driver will need: an identity document, a car registration certificate and driver’s licenses of those who will be included in the OSAGO.

When a traffic police officer requests a policy, the motorist can present it on the smartphone screen — this function has been available since 2019. Or, if desired, the driver can print an electronic document so that he can always have a paper version with him if, for example, the battery on his smartphone runs out. If the driver does not present his existing MTPL insurance policy, he will face a fine of 500 rubles.

source: press service Information project «OSAGO: public examination»

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