UKRAINE: 2019 share of e-MTPL policies exceeded 14% of all MTPL contracts

29 January 2020 — Marina MAGNAVAL
According to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), total number of e-MTPL policies in 2019 exceeded 1.2 million units, while the GWP under electronic contracts amounted to about UAH 929.7 million (~EUR 35.18 million), Forinsurer reports.

Since the introduction of the e-MTPL system in February 2018, local insurers have concluded over 1.3 million of these contracts, their GWP for the whole period exceeding UAH 1.03 billion (~EUR 38.98 million).

TOP-3 market leaders in terms of the number of e-MTPL contracts since the introduction of the electronic system are PZU Ukraine (212 thousand units), KNYAZHA (191 thousand units) and VUSO (184 thousand units). The same companies rank as TOP-3 in terms of e-MTPL GWP. As of now, 44 insurers conclude e-MTPL contracts, TOP-10 of them accounting for 71.4% of all the e-MTPL contracts.

In 2019, the share of e-MTPL policies reached about 14% of all MTPL contracts in the country (vs 2% in 2018).

"Now we have set an ambitious task to create a complete digital environment for motor insurance. The strategy declared by the government of developing 'a state in a smartphone' and its active implementation (for example, we are already testing services of implementation and use of electronic drivers' licenses, digital vehicle passports) allows the efforts of the government and business to synchronize in order to accelerate the transformation of the insurance industry", said Volodimir SHEVCHENKO, General Director, MTIBU.

*EUR 1 = UAH 26.422 (as of 01.01.2020)

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