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Republic of Moldova

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IT system and bonus-malus - the challenges of 2011 for Moldavian insurers


One of the great challenges of the current year for the supervisory authority in Chisinau is the implementation of the IT system for Mandatory MTPL insurance policies, "system to be implemented all throughout Moldova. Also, all profile companies that will issue these types of insurance will be forced to comply with requirements set by legislation", said Aurica DOINA, Vice President of NCFM, during the Seminar "Motor Insurance in Times of Crisis", that took place on April 11 in Chisinau.

This new IT system will also facilitate the introduction of bonus-malus, that has as main purpose to discipline the driver, by awarding bonus or malus depending on the claims history. "The future of the motor insurance market is highly dependent on our joint ability to develop the latest technologies", concluded the Vice President of NCFM.

"Statistics indicate that the number of complaints is increasing from year to year for MTPL insurance policies. Most of these are solved and only a little over 5% end up in court. This reality suggests that insurance companies should improve their internal control departments", said Aurica DOINA.

"The figures for 2010 indicate a total of 444,000 mandatory MTPL insurance contracts, slightly up from 2009, when 408,000 contracts had been concluded. If we analyze the number of vehicles registered in the Republic of Moldova or of those that have passed the periodic technical inspection, the degree of coverage is quite good", added Vladimir STIRBU, Director, General Directorate of Insurance Supervision, NCFM.

According to the Vicepresident of NCFM, the population of the Republic of Moldova is informed to a large extent regarding the attributions of the Street Victims Protection Fund, as in 2010 alone "it has granted claims of MDL 1.6 million, for a total of 52 recorded cases".


Author: Vlad BOLDIJAR on 11.04.2011




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