Insurance companies for 2020 were able to increase the awards by 4.1% to 1.5 trillion rubles, the Central Bank said. Even the restrictions associated with the pandemic were not prevented: the failure in the second quarter was compensated. But on the income of insurers, it practically did not affect: 247.5 billion rubles. against 247.4 billion in 2019
The case in commissions of banks through which companies sell most of the most profitable and growing products. The costs of insurers for maintenance of cases were never so high: the calculated Central Bank coefficient reached 43% - the maximum for the entire observation period, the regulator was reported. Because of this, the structure of the combined unprofitability coefficient has changed (shows the effectiveness of the main business of insurers: if the coefficient is more than 100%, it is unprofitable): last year it has not changed and amounted to 90%: the premiums grew faster than payments (partly due to the self-insulation period) .
The cost rate grew due to the fact that the remuneration of intermediaries increased the faster of contributions, notes the Central Bank: 5% to 342 billion rubles. But the premiums collected by intermediaries practically did not increase and amounted to 1.1 trillion rubles, as in 2019
How much insurers give to intermediaries?Intermediaries are the main channel of sales of policies: last year, thanks to them, the insurers collected 3/4 of all contributions. About 40% (418 billion rubles) of these contributions accounted for banks: they received 61% of the total remuneration to intermediaries (209 billion rubles) as the Commission (209 billion rubles).
The Commission, which the insurers paid intermediaries from the contributions received by their participation amounted to 342 billion rubles, or 30% (+0.5 per year). As a result, the remuneration of intermediaries amounted to more than half of all expenses (for conducting business, general and administrative expenses) of Russian insurers, writes the Central Bank.
The largest commissions in credit insurance - from accidents and diseases and life insurance of borrowers. Companies collected in these types of insurance with the help of banks 186 billion and 87 billion rubles. Premiums, respectively, and the Commission for this paid more than half of the contributions: 66% (123 billion rubles) - in insurance against accidents and diseases and 60% (52 billion) - in the insurance of life of borrowers. These two species provided more than half of the total remuneration of intermediaries.
Almost a quarter of the Commission accounts for autocask and insurance of other property of individuals: for other insurance of the property of individuals, it is 49% (32.1 billion rubles), by car - 29% (45 billion rubles).
High commissions intermediaries allow insurers to increasing contributions in profitable types of insurance. Thus, the combined coefficient of lossless insurance against accidents and diseases at the end of 2020 was 72.2%, the loss rate (excluding expenses for the conduct of the case) was equal to 23.3%; By car - 81.8 and 46%, respectively.
How to reduce dependency on banksContributions and profits of insurers largely depend on the situation of the lending market, notes the Central Bank: it makes an element of instability in the long run. The regulator believes that if the insurers now take care of the decline in the cost of doing business as a whole together with the decline in commodity commissions, this can ensure the stability of the financial situation of insurers in the long term.
High Commission Intermediaries for Companies in Financial Holdings, the center of which are banks, often become a way to redistribute income. But even at low commission, income can be sent to owners through dividends, writes the Central Bank.
In addition to working with insurance mediators to reduce remuneration and channel development with lower commissions, an increase in the financial stability of the industry can also contribute to an increase in the share of insurance species with low commissions - long-term life insurance, DMS, etc., believes the Central Bank. Decrease in the expenditures of insurers to attract and maintain customers will also contribute to the legislative project of the activities of insurance agents and brokers via the Internet, consolidating the possibility of their services on behalf of and at the expense of the insurer associated with voluntary insurance and the CTP.
The proportion of premiums collected by insurers through the Internet is still extremely 5%. To help insurers, the development of the marketer, which earned in the second half of 2020 and became a new sales channel for banks, insurers and other financial companies, notes the regulator. Sale of companies of companies through Marketplace can tighten the price competition for customers. In addition, the possibility of using mobile applications of insurers, insurance agents and insurance brokers is enshrined. Under these conditions, insurers are important for maintaining financial stability. It is important to prevent the reducing tariffs to the level below the currently reasonable, warns the Central Bank.