In Jan-Jun 2021, Sber clients signed 8.5 million risk insurance contracts with Sber subsidiaries SberInsurance and Sberbank life insurance, up 17% y-o-y. The share of online policies almost reached the number taken out via the conventional customer service channels in 2021: 45.6% versus 54.4%.

Mortgage insurance emerged on top of online sales: almost 2 million customers used this channel, which is 48.7% more y-o-y. General purpose loan borrowers took out about 1 million online policies, or 39% more y-o-y.

Online registration of non-credit risk insurance programs also enjoys demand. The most popular policies in this category are: Protect Your Finances (about 600,000), Injury Protection (324,000), and Home Protection (about 150,000).

One of the major upsides of Sber's risk insurance programs is that you can settle claims remotely. For the most widespread risk programs by SberInsurance, this can be done using the Sberbank Online mobile application. For Sberbank life insurance programs, there is a feedback form in the personal account on the insurance company's website.

We pay special attention to digitizing our service channels because this is convenient and saves a lot of our clients' time: you can protect yourself, your loved ones, or your property in a few minutes at any time. Sber clients currently have access to the entire line of risk insurance products online, as well as a service to help them choose MTPL and CNC policies. This year, users have been allowed to subscribe to the most popular types of insurance policies on the SberBank Online mobile app: Home Protection, Injury Protection, and Protect Your Finances. At the same time, you can choose a premium frequency to pay monthly, quarterly or yearly. This model enjoys demand, with about 40% of customers who take out insurance choosing monthly charges. All the aforementioned facts benefit the appeal of remote service channels, which is why customers are increasingly signing contracts online. I am sure that the trend for the use of digital solutions will keep growing, and we will make every effort to make our services simple, convenient, and hi-tech.

Denis Kuzmin

Director of Protective Products and Services, Sberbank

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Sberbank of Russia published this content on 13 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2021 13:21:04 UTC.