KAZAKHSTAN: number of paid claims went up by more than 2 times y-o-y in the 7 months of 2018

In Kazakhstan in the first 7 months of this year, the total number of paid claims amounted to 385.7 thousand, which is, according to ranking.kz, 2.1 times more y-o-y. The total number of reported claims decreased y-o-y to 117.5 thousand (-9.3%).

The leader in terms of number of reported claims was voluntary personal insurance (65.5 thousand reported claims), but the number decreased y-o-y by 8.3%. Also, the number of reported claims dropped in compulsory insurance (42.2 thousand, -9.3% y-o-y). Fewer reported claims were recorded by voluntary property insurance (9.8 thousand, -14.1%).

According to market experts, the main reason for the increased number of paid claims was the growing trend in voluntary personal insurance by 2.5 times, while the segment had the biggest share of total paid claims for the market (337.9 thousand paid claims). The number of paid claims in compulsory insurance, on the contrary, demonstrated a decline to 40 thousand of claims (-8%), the same trend was seen in voluntary property insurance (-6.4%), according to allinsurance.kz.

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