Digitalization in the insurance market has accelerated dramatically due to the pandemic, and projects that were planned to be launched in 2-3 years or more are being implemented as a priority.

Electronic insurance will continue its accelerated development, and e-GWP (excluding MTPL) in 2021 will exceed RUB 30 billion (~EUR 0.34 billion), as follows from the review of the Expert RA rating agency.

According to the agency, so far only a third of surveyed insurers are selling policies through their mobile applications, so the potential for digital transformation is quite large.

In addition to online sales, the share of online settlement is also growing. 70% of respondents are providing customers with a possibility to apply for a settlement online (in 2017, this figure was less than 50%).

Almost all the main types of insurance in online sales at the end of 2020 showed high GWP growth rates, except for insurance for those traveling abroad - following the general market dynamics of this insurance type, online GWP dropped by half, the review says.