Every tenth Russian doesn't trust insurance companies

Results of the regular RusIndex survey showed that only 17% of Russians have a valid insurance policy

Every tenth Russian doesn't trust insurance companies

Ipsos Comcon publishes the data on the media consumption from the quarterly RusIndex survey, studying lifestyle, consumption and media preferences of Russians aged 10-75 living in cities with a population over 100 thousand people.

According to the RusIndex survey 42% of Russians in big cities agree with the statement: "Insurance is a good way of financial protection of life, health and property". But, in fact, only 17% of Russians have a valid insurance policy

33% of people who have insurance policy acquire it regularly or have a long-term contract. 13% of Russians execute an insurance policy occasionally, from time to time. 7% of respondents got an insurance policy for the first time in 2017.

An averege amount of money Russian 16 years+ old spends on an Insurance is 14,700 rubles a year.

17% of the respondents buy an insurance policy for the peace of mind, just in case. 13% of Russians get an insurance policy to protect their property. For 8% an insurance was a condition of making the loan. Owners of the insurance policies mostly base the choice of the insurance company on her reputation (38%).

According to the Rusindex study among those who have a valid insurance policy 17% have voluntary health insurance (VHI). Voluntary health insurance for the majority of Russians is executed by the employer. Only 19% of voluntary health insurance policy holders execute it by themselves. 

The results of the RusIndex survey showed that for the Russians, who have a valid insurance policy, the most recognizable insurance company is Rosgosstrakh (incl. Rosgosstrakh Life). Among the most recognizable insurance companies there are: Ingosstrakh, Renaissance Insurance (incl. Renaissance Life), Alfa insurance (incl. AlfaInsurance Life), and Sberbank Insurance (incl. Sberbank Insurance Life).

However, the majority (83%) of Russian people does not have a valid insurance policy (except for CHI). They don't execute an insurance policy, because they don't see any sense (benefit) in this service (20%) and because it is too expensive for them (14%). Every tenth Russian doen't trust insurance companies. 12% of people have never thought about executing an insurance policy. 4% of Russians living in big cities had a negative insurance experience, so they currently don't have a valid insurance policy.

Consumer & Shopper