Oleksandr Yaroslavsky Sees the Favorable Outlook for INGO’s Development

The Company’s annual report highlights that the President and CEO of DCH group Oleksandr Yaroslavsky sees the favorable outlook for INGO’s  development. Mr. Yaroslavsky claims that after joining DCH group INGO Ukraine’s global strategy will be all about ensuring the stability of its strategic guidelines and integration into DCH group. According to Mr. Yaroslavsky, “2017 results speak well for my words - strong and steady growth in core parameters (top-line premium growth, large cash reserves and assets), achieved key performance indicators, reputation of the reliable and professional insurer, high long-term credit rating.” Within the next 3 years INGO’s management has to focus on developing and implementing the new operational strategy with the key element in mind - adopting novel technologies.  

CEO of INGO Ukraine Igor Gordienko notes the Company managed to increase its surplus in the tough market competition. He explains that the Company retained its earnings and redoubled the efforts to build the stronger financial stability. Within the framework of the existing strategy the Company continued its digital transformation, developed IT-infrastructure and created the innovative business landscape. 

The Company reports that in 2017 549.7 million UAH were paid for losses incurred. Motor insurance takes the leading position with 328 million UAH. While 123 million UAH were paid for the losses sustained in P&C insurance. Over 93 million UAH was the largest payment made per occurrence. The total amount of INGO’s liability to its insured clients is 625 billion UAH. Furthermore, over 1 065 billion UAH premiums were written last year. 

Optimization of business processes and implementation of the electronic document management helped reduce the average period of indemnity payment, including under compulsory motor TPL insurance agreements. 

The Company launched the personal customer account and platform for legal entities offering the clients the options of online insurance and control over the claims handling process. In 2018, the Company’s clients will benefit from the tailored insurance proposals and numerous online services. This year, high on the Company’s agenda will be the sales operational efficiency, underwriting and claims handling. The Company is now working on corporate data management, development of the program applications’ architecture, as well as upgrade of technology infrastructure and information security. 

Please find the full version of the Company’s annual report at the link.