Digitalization of Market of Compulsory Third Party Car Insurance as a Factor in Overcoming the Crisis in Third Party Only Insurance and Ensuring Economic Security
- DOI
- 10.2991/aebmr.k.200730.129How to use a DOI?
- Keywords
- road safety, Third Party Only Insurance (TPOI), digitalization of the TPOI system, overcoming insurance fraud, ensuring economic security
- Abstract
Significant moral and material damage to road users and the transportation process resulting from road accidents objectively implies the need for insurance protection of both individuals and legal entities that are direct participants in the conflict, as well as third parties accidentally injured in road accidents. The main event for the Russian insurance market was the introduction of Third Party Only Insurance (TPOI) in 2003. Compulsory TPOI has become the norm within the society. However, it should be noted that throughout its implementation a number of problems have been identified considering state regulation. The article provides an economic assessment of the TPOI market. The TPOI economic indicators have been unstable recently and they are developing with great fluctuations. In modern conditions, the systematic work of the All-Russian Union of Insurers and the Russian Association of Motor Insurers is required to overcome crisis phenomena including legislative changes, the development and implementation of innovative digital technologies, the improving interaction with local authorities and courts, and overcoming insurance fraud. The measures and the main directions for the further improvement of the TPOI system are proposed. A purposeful and effective policy including the widespread introduction of modern digital technologies, the improvement of work on the accumulation, storage and processing of data, digitalization and customer-focused key processes for providing insurance services is needed to overcome insurance fraud and to ensure economic security. There is a need to create and approve an interaction algorithm with the traffic police, which allow reducing the time of accident registration.
- Copyright
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - V.A. Verzilin AU - Ju.V. Narolina PY - 2020 DA - 2020/08/01 TI - Digitalization of Market of Compulsory Third Party Car Insurance as a Factor in Overcoming the Crisis in Third Party Only Insurance and Ensuring Economic Security BT - Proceedings of the Russian Conference on Digital Economy and Knowledge Management (RuDEcK 2020) PB - Atlantis Press SP - 709 EP - 712 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.200730.129 DO - 10.2991/aebmr.k.200730.129 ID - Verzilin2020 ER -