UKRAINE: Number of MTPL agreements increased by 8.7% y-o-y in 3Q2020

25 November 2020 — Marina MAGNAVAL
According to the MTIBU (Motor Transport Insurance Bureau of Ukraine), in the third quarter of 2020, the number of concluded MTPL agreements reached 2.24 million units, which is 8.7% more y-o-y. At the same time, collected GWP amounted to UAH 1.65 billion (+30%) (~EUR 49.75 million*), according to the Bureau's website.

MTPL insurers settled over 36.1 thousand claims from victims of road accidents, and paid UAH 703.3 million of compensation. The number of settled claims increased by 9.1% y-o-y, and the amount of paid claims - by 13.1%. TOP-3 insurers in terms of the number of MTPL agreements concluded in the period remained unchanged: ORANTA, TAS and UPSK.

In 3Q2020, MTIBU received 328 complaints from victims and policyholders against insurance companies, which is 72 complaints less than in the same period of 2019. The Bureau noted that this downward trend in the number of complaints continues throughout 2020. MTIBU conducted a survey of road accident victims who received compensation from the Bureau's guarantee funds. The overall assessment of satisfaction with the procedure was 8.9 points out of 10 (vs 8.5 points a year ago).

General Director of MTIBU Vladimir SHEVCHENKO commented:

"We are actively moving towards the formation of MTIBU as a service organization focused on the needs of people. Much has already been done: the process of scheduled payments has been automated, personal accounts have been created on the Bureau's website, a 24-hour contact center is operating. Getting feedbacks is an integral part of building a truly high-quality customer experience. We conducted a survey so that consumers could tell us exactly which improvements in our work are important to them."

*at the following exchange rate:
1 EUR = 33.1643 UAH (as of October 1st, 2020)

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