Rating of insurance companies. Insurance companies: reliability rating

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

In the Russian Federation, as in other countries of the former Soviet Union, insurance is ambiguous. Why this happened is not clear. Perhaps because of the mentality of the Slavs, who always hope for the best and are afraid to think ahead of themselves some trouble.

In most countries of Europe, the United States of America and other developed countries, the issue of the need for insurance is treated very differently. In this world, it has long been understood that, whether we like it or not, there is always the possibility of an accident, illness, and sometimes it is better to reinsure yourself and your loved ones than to get into a difficult financial situation later.

They also say that weak insurance companies operate on the market in the Russian Federation, the reliability rating of which leaves much to be desired. Like it or not, we will analyze further in the article.

What types of insurance are there?

There are a lot of types of insurance. It can be divided into personal and property. The first group includes such services that are related to the he alth of theperson: life insurance, he alth, accident, medical and others. The second group includes all those services that are related to the property interests of people: real estate insurance, car insurance, purchases and others.

There are also insurance services that are provided to legal entities: insurance of transactions, products, sales and many others.

If a person decides to insure, then he is faced with the problem of choosing an insurance company that could satisfy his needs and provide the necessary services.

Why do we need an insurance company rating?

The market is filled with various companies that provide insurance services, and sometimes it is difficult to choose which one is the best. For example, insurance companies in Moscow spend a lot of money on self-promotion. The rating, thanks to this, improves due to an increase in the client flow. But will it be a full reflection of the real level of reliability of the insurer?

In the insurance business, perhaps, there is nothing more important for an insurer than the highest reputation in the market of services provided. If the company is not well known, then only old customers who are already more or less loyal to it will use its services.

Service level plays a big role

Also, positive feedback from people is very important. Psychologists often say that a satisfied customer will recommend a firm to 2-3 friends, while a dissatisfied one will tell 10 or more people about what a bad organization served him. So in the matter of goodservice all insurers should keep at the best level.

There are many more criteria that are important for the successful functioning of an insurance company in the market for providing insurance services for various risks.

In order to understand which of the insurers is the market leader and which is the loser who should not be contacted, a rating of insurance companies is compiled.

With the help of this rating, you can easily choose the right insurance company and be sure that it will fulfill its obligations without any pitfalls.

Which criteria are given more attention in the evaluation?

To find out the best insurance companies in Moscow, the rating must be compiled carefully, taking into account all possible indicators. They should show the level of solvency of the insurance company, the stability of its business relations, the presence of debt obligations.

In addition, it is necessary to understand the level of insurance payments, the structure of the client portfolio, as well as other financial indicators that will help to see the level of stability and financial condition of the insurance company.

Basically, the rating of insurance companies is compiled based on the analysis of the following groups of indicators:

1. Indicators of external sustainability.
2. Insurance portfolio.
3. Financial performance.

Let's consider each group of such indicators.

External sustainability indicators

Analyzing the indicators of external stability, they take into account the movement of assets, their structure and dynamics. In addition, the size of the authorized capital is taken into account, as well as the total amount of the insurance premium.

It will also be important to analyze what associations the company is in, what position it has in the market, its relationship with state control bodies and the competence of management personnel.

When analyzing these indicators, it is necessary to take into account the management structure of the insurer, as well as its financial capabilities.

Considering external stability, draw conclusions for each regional branch of the insurance company: its profit and loss, position in the local insurance market. Moreover, the rating of insurance companies in Moscow may differ significantly from the positions held by companies in other regions. After all, each city has its own level of income, which is expressed by the level of solvency.

Insurance portfolio

Studying the insurance portfolio, you need to understand the structure of the insurance company. It is necessary to determine how profitable each type of insurance is and the total amount of possible risks.

The received data is compared with the client base. The quantity, structure and dynamics of the client portfolio are analyzed. It examines how profitable current customers are for an insurance company, what level of work volume is created by permanent insurers, and also how quickly new insurance contracts appear.

The policy pursued by the insurance company within the framework of reinsurance is also important. Are serious risks that can lead to a large level of insurance payments guaranteed? The maximum level of insurance payments is compared with the total amount of own funds.

Financials

Financial indicators are divided into three groups.

1. Liquidity and solvency indicators.

An analysis of different degrees of liquidity of a company shows how quickly it can pay off its debts if at some point all creditors demand the return of their investments. Solvency indicators show the need of the insurance company to raise additional funds from outside.

In addition, the structure of accounts payable is analyzed, which makes it clear the reasons for its occurrence and the time required for full repayment. The solvency mark and equity capital adequacy ratio are also calculated.

2. Profit and loss ratios.

ROA helps to determine the company's profit margin per service rendered. The calculation of loss ratios allows you to assess the level of expenses that the insurer spends on conducting its activities. An analysis is being made of the sufficiency of the income that the insurance company receives for insurance payments, as well as covering its own current costs of doing business.

3. Investment policy indicators.

With the help of relevant indicators, the development of the insurance company, the return on investment, as well asthe influence of those areas of activity in which optimization is carried out is analyzed.

You can't rely solely on public opinion

The rating of insurance companies is the result of a complex calculation that includes almost all the indicators that you can think of for rating an insurance company. Such analyzes should only be carried out by experts.

Polling people about their opinion about the services of this or that insurance company is only a partial element of a long and laborious process that must be completed to create a truly objective rating.

You need to understand that when conducting a survey, the human factor has a considerable influence on the results. People tend to be influenced by advertising, imposed opinions. That is, when analyzing insurance companies, the people's rating should not be taken as the only true one.

The insurance company may not be the best, but newspapers, magazines, television and other marketing tricks may give the public a false impression of its reliability.

Before any conclusions, it is necessary to properly analyze all insurance companies. A credibility rating compiled on the basis of the correct indicators is able to correctly identify market leaders.

Let's look at how insurance companies finished last year and who ended up in the TOP.

Rating of insurance companies based on the results of 2014

After analyzing the results shown by insurance companies in 2014, we canconclude that last year was difficult for the entire insurance market. There were no surprises in earned income, a sharp change in positions compared to the ratings of 2013.

If we compare the amount of insurance premiums received (money paid by insurers), then the three leaders who demonstrate the best results for the Russian market remained on the podium.

The first place was taken by the insurance company Rosgosstrakh, which received 105.2 billion rubles. The second is SOGAZ with an income of 105.2 billion rubles, and Ingosstrakh is confidently holding third place, which managed to collect insurance premiums in the amount of 65.8 billion rubles.

If we analyze the structure of their income, we can conclude that the largest amount of funds came from the conclusion of contracts for voluntary property insurance.

In terms of payments, which is one of the most important indicators for insurance companies, the top three remained the same. In the first place in terms of payments is the insurance company "Rosgosstrakh", which carried out compensation for damages in the total amount of 55.1 billion rubles. Ingosstrakh and SOGAZ are in second and third places, respectively.

If we consider the volume of payments in relation to the received insurance premium, then the first place will be IC "Alliance", "Ingosstrakh", as well as IC "Consent".

In 2014 Rosgosstrakh insurance company is the leader in terms of the number of concluded contracts. Neither more nor less, she managed to conclude them in the amount of 34.5 million units. In second place isAlfaStrakhovanie, which concluded 11.8 million contracts. The third place was taken by the insurance company RESO-Garantiya, which concluded more than 8.4 million contracts.

What's in 2015 now and what are the forecasts?

Experts note a significant decrease in customer activity. This situation is attributed to the deterioration of economic indicators and the fall in GDP. Indeed, the depreciation of the ruble has significantly hit the pockets of both an ordinary resident and various business structures that need to supply products from abroad.

According to forecasts, only two types of insurance services will be able to support the rating of insurance companies in 2015: life and OSAGO.

Many believe that the market will shrink, with larger companies ready to literally have breakfast with small firms that provide insurance services. That is, there is a tendency to enlarge the market due to the absorption of companies.

This, for example, is evidenced by such a type of insurance as OSAGO. The rating of the insurance company Rosgosstrakh for the first half of the year in this type of insurance services increased compared to the same period in 2014. If last year the share of this company in the compulsory insurance of civil liability of the driver was 29.5%, now it already exceeds 36%.

And if we analyze the increase in CMTPL fees, the rating of the insurance company IC "RESO-Garantia" has also improved. So, in 2015, she managed to increase the total amount of fees by 48.5%.

In 2015, the market tends to grow larger

PoAccording to the results of the first half of the year, the total market share of insurance companies, which are included in the top ten, increased to 77%, which also indicates the consolidation of the market.

If you want to understand whether to cooperate with a certain insurer, it would be best to find out its rating. Insurance companies in St. Petersburg or the capitals may have different volumes of collected premiums due to different regional positions, which determine the overall level of customer flow. At the same time, a well-designed analysis will help to take this circumstance into account and understand which insurance company is right for you.