Moldavian insurers may issue MTPL policies in electronic system starting January 1, 2011
 Moldavian insurance companies may issue policies in electronic system starting next year, once with the completion of the information system and of the common database.
"Starting October this year, we will implement a pilot program to test the information system of electronic issuance of mandatory MTPL insurance policies", said Vlad STIRBU, Insurance Department Manager, The National Commission of Financial Market (CNPF) from the Republic of Moldova.
Meanwhile, the supervisory authority intends to finalize by the end of this year the operation of building the common database that will contain the claims history of the insured.
This measure is eagerly awaited by local profile insurance companies, as it will substantially improve, according to their leaders, the underwriting activity on this insurance class.
Also, the existence of the database will also allow the "real" implementation of the bonus-malus system at market level.
"The bonus-malus system was implemented last year, but only at company level", said Roman ANDRONIC, General Manager, ASTERRA Group.
"Basically, right now there is no common database with the claims history of the insured, so we can only apply the bonus system. Those who have claims with a company prefer to move several times to other insurers, thus avoiding the malus", Roman ANDRONIC added.
In the first quarter of 2010, Green Card insurance generated the largest volume of premiums in the total volume of underwritings: about EUR 2.9 million (MDL 46 million), equivalent to 24% of total insurance market. Also, the amount of underwitings from mandatory MTPL insurance stood at EUR 2.8 million (MDL 45 million).
NOTE: Calculations in EUR are made for an exchange rate of EUR 1 = MDL 16.
Author: Oleg DORONCEANU, Vlad BOLDIJAR
on 07.07.2010
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