KAZAKHSTAN: about 1 million e-policies sold for 1Q2019

25 April 2019 —
According to preliminary data, from January to March 2019 about 1 million electronic policies were sold in the country, accounting for about 20% of the average annual sales volume, Allinsurance.kz reports.

On January 1, 2019, electronic policies were introduced and customers were given the possibility of purchasing policies online from the websites of insurance companies.

However, as of March 1, 2019, the penetration degree of e-policies in the market of mandatory motor insurance of vehicle owners reached only 0.6%. According to the market experts, by the end of the year online sales may reach 2-5%.

"The market is interested in the development of online sales. The widespread introduction and growth of online insurance will improve the insurance sector and make it much more transparent", representatives of Amanat insurance company said.