According to the company, there are no analogues of this product on the local market. The general director of ROSGOSSTEAKH Life, Alexey RUDENKO believes that "now the life market is almost completely dependent on products with one time premiums, which makes insurers' GWP very volatile - a year ago they used to grow at double-digit rates, and by the end of 1H2019 - dropped by 10% y-o-y. We see huge potential in products with regular premium payments. First of all, they allow to reach new targeted audience - younger people with no savings, but with current income. Secondly, here we have an ongoing communication with a client: "insurers do not "bury their heads in the sand" for 5 years, and the possibility that a client will be disappointed with the product by the end is much less. Regular premium payments also allow clients to receive tax deduction every year, and that increases the product's value for customers. We are sure that similar products can change investment life insurance segment significantly in the near future", he added.
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