The highest average commission for 9 months of 2021 was recorded by car dealers (42.8%), through which insurers received RUB 50.6 billion in premiums (+21.3%). Almost the same average commission recorded credit institutions (39.9%), premiums through which grew by 25% to RUB 507.5 billion.
As we can see from the data of the Bank of Russia for the period, GWP of insurers through insurance brokers amounted to RUB 61.8 billion, which is 1.7 times more y-o-y. At the same time, the average commission of insurance brokers has traditionally become the lowest among the main sales channels and decreased to 12.1% (vs 14.6%), according to the head of the Board of the Association of Professional Insurance Brokers (APSB) Katerina YAKUNINA.
The average commission of legal intermediaries (specialized agents and other legal entities) was 35.1%. In 9 months of 2021, RUB 119.6 billion (+10.8%) were received by insurers through them.
In fourth place in terms of the average commission are agents-individuals, their average commission was 19%. Through private agents, from January to September 2021, RUB 240.8 billion were collected in insurance premiums (+11%).
The average commission for other sales channels (leasing companies, medical organizations, post offices, other insurance companies, tour operators) was 23.4%. Through them, insurers received about 1% of insurance premiums, or RUB 18.4 billion (+29%).
"The statistics show that the role of insurance brokers as intermediaries in the insurance market has grown significantly this year. One of the reasons is the growing demand for complex insurance contracts, in the conclusion and maintenance of which the role of insurance brokers can hardly be overestimated", explained Katerina YAKUNINA.
* 1 EUR = 84.8755 RUB (September 30th, 2021)
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