UKRAINE: MTIBU enters the most prestigious rating of TOP-25 innovative companies of Ukraine for the first time

19 November 2020 — Marina MAGNAVAL
MTIBU (Motor Transport Insurance Bureau of Ukraine) entered the most prestigious rating of TOP-25 innovative companies in Ukraine for the first time. The rating was carried out by the authoritative business publication "Vlast Deneg". MTIBU is the only insurance organization included in the rating, the Bureau reports.

When selecting nominees, the main criterion was not only availability of innovative plans for the future, but successfully implemented innovations in the field of production or services, as well as the role of the company in the lives of citizens, how the innovations introduced can strengthen economic and technological potential and international image of Ukraine.

Digital transformation of MTPL began several years ago. In February 2018, an electronic MTPL policy was introduced and for 9 months of 2020 the number of electronic contracts exceeded three times the same figure a year earlier, and GWP under electronic contracts for January-September 2020 reached UAH 1.8 billion/~EUR 54.27 million* (+248% y-o-y in UAH). Today, every third MTPL policy is purchased in electronic form.

Also, an electronic European Accident Statement was introduced for convenient registration of accidents and several digital services for both car owners and professional participants in the MTPL market. Since February 2019, employees of the State Border Service have been conducting an automated check of availability and validity of Green Card insurance certificates when crossing the Ukrainian border by car owners. In the near future - transition to the black and white format of the Green Card certificate form.

General Director of MTIBU, Vladimir SHEVCHENKO urges to look at the process of digitalization of motor insurance from the point of systemic development, since innovations fundamentally change the landscape of the entire financial industry, not only insurance. Many problems can be solved thanks to technological innovations, he stressed.

*at the following exchange rate:
1 EUR = 33.1643 UAH (as of 01.10.2020)

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