Business news from Ukraine

INSURANCE ARX EXPLAINED HOW HEALTH INSURANCE WORKS IN UKRAINE NOW

All appeals under voluntary medical insurance policies (VHI) are covered, except when the appeal is related to an injury directly related to war, hostilities, exposure to weapons, ammunition, according to the insurer’s website.

At the same time, it is emphasized that VHI agreements are valid only on the territory of Ukraine, therefore, in order to receive medical care abroad, clients are advised to purchase an insurance policy for travelers abroad.

According to the report, ARX medical assistance works as usual, around the clock. Its employees provide recommendations based on the terms of insurance contracts, organize assistance, visit a doctor, provide medicines, and teleconsultations.

“However, we ask clients to be understanding of possible delays in the organization of medical services, since the medical system, especially private clinics, is now also working in a situation of heavy workload and, in some cases, in a situation of staff shortages. In addition, in some regions, for security reasons or changing the profile, some of our partners have suspended the provision of services or limited certain services,” the message says.

In addition, the company has significantly expanded the opportunities for the insured to receive compensation in case of independent organization of medical services and their payment. The term for receiving compensation can reach 2-3 business days.

According to the report, in areas with active hostilities – Kharkiv, Chernihiv, Sumy, Mariupol or with a difficult security situation – all partners of the company have suspended the provision of services due to a lack of staff on the ground and for security reasons.

All medical services in Western Ukraine, as well as Odessa, Dnipro are provided without restrictions on the basis of the company’s partners. There are difficulties with calling an ambulance, due to the heavy workload. Pharmacy chains limit the opening hours of pharmacies in accordance with curfew restrictions and in general.

In Kyiv, almost all partners of the company work as usual, but subject to restrictions for security reasons and curfews. There may be difficulties with calling an ambulance, both private and 103.

In connection with the re-profiling of hospitals, there are difficulties with the organization of planned hospitalization. A large number of doctors work remotely, so it may be difficult to organize face-to-face appointments with doctors of narrow specialties at a time and place convenient for the client.

IC “ARX” has been operating in the insurance market for 26 years. According to the company, it is the leader in CASCO insurance for the 12th year in a row. It ranks first among Ukrainian insurers in terms of net insurance premiums and net insurance payments for 2019. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).

,

VEHICLE INSURANCE ACCOUNTS FOR 80% OF ARX INSURER PAYMENTS IN H1

In January-June 2021, ARX Insurance Company (Kyiv) paid out UAH 603 million of insurance indemnities to clients, which is 30% more than in 2020, of which 80.7% is vehicle insurance.
As reported on the company’s website, in the KASKO segment, payments over the first half of the year amounted to about UAH 425 million, which is 46% more than in the same period in 2020, OSAGO – more than UAH 62 million (more by 37%).
It is also noted that payments on voluntary medical insurance for the indicated six months amounted to more than UAH 89 million of insurance claims, which is 12% more than in 2020.
The company also reports that a large-scale project with Visa was launched in February 2021. Holders of VISA Platinum, Signature and Infinite premium cards received a free bonus – telemedicine consultations from ARX.
The company pays out about UAH 4 million to its clients every day. On average, the company pays more than UAH 100 million per month, the main categories remain KASKO, OSAGO and healthcare.
As reported, ARX has been operating in the insurance market for 26 years and has been the leader in KASKO insurance for the 12th year in a row. It ranked first among Ukrainian insurers in terms of net insurance premiums and net insurance payments for 2019. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).

, , ,

ARX INCREASES COLLECTION OF PREMIUMS BY 10% IN UKRAINE IN Q1

ARX insurance company (Kyiv) in January-March collected UAH 689.7 million of insurance premiums, which is 10% more than last year, according to a press release from the insurer.
The amount of insurance claims paid to clients during this period amounted to about UAH 294 million, which is 11% more than last year. The number of contracts in this period exceeded 534,000, which is 8% more than the number for the same period in 2020.
The company reports that in the KASKO segment the amount of insurance premiums totaled about UAH 406 million, which is 32% more than in the same period last year. The share of the product in the company’s portfolio is 59%.
Under OSAGO, the amount of collected premiums exceeded UAH 51 million, which is 12% more than in 2020, in voluntary medical insurance – more than UAH 118 million, in property insurance – UAH 75 million.
As reported, AXA Group (France) in February 2019 completed the sale of its subsidiaries in Ukraine: PrJSC AXA Insurance and AXA Insurance Life.
On July 1, 2019, AXA Insurance changed its name to ARX Insurance Company. AXA Life Insurance began operating under the ARX Life brand.
ARX has been operating in the insurance market for 26 years, and has been the leader in KASKO insurance for the 12th year in a row. It ranked first among Ukrainian insurers in terms of net insurance premiums and net insurance payments for 2019. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).

,

ARX LIFE RAISES PREMIUM COLLECTION IN UKRAINE BY 45%

Insurance company ARX Life (formerly AXA Life Insurance) collected UAH 259.6 million in insurance premiums in 2020, which is 45% more than a year earlier, the insurer said in a press release.
It is noted that, despite the crisis, 2020 was a successful year for ARX and ARX Life, the total amount of collected premiums of which amounted to UAH 2.94 billion, which is 17% higher than the results of 2019. The total profit of ARX and ARX Life amounted to UAH 325 million.
As reported, AXA Group (France) in February 2019 completed the transaction with Fairfax Financial Holdings Limited on the sale of its subsidiaries in Ukraine – PrJSC Insurance Company AXA Insurance and AXA Life Insurance. On July 1, 2019, AXA Insurance changed its name to ARX Insurance Company. AXA Life Insurance began operating under the ARX Life brand.
AXA Life Insurance was registered in July 2013. The volume of premiums collected in 2018 amounted to UAH 93 million, which is 57% higher than in 2017.

, ,

ARX INCREASES PAYMENTS IN UKRAINE BY 15%

ARX Insurance Company (formerly AXA Insurance, Kyiv) in March 2020 paid customers almost UAH 89 million, which is 15% more than in the same period in 2019.
According to a press release from the insurer, the amount of average daily payments remains unchanged at about UAH 4 million.
The largest payment in March exceeded UAH 2.550 million and was made to an individual under a car insurance contract.
In addition, the medical assistance and contact center of ARX continue to work 24/7. The number of calls they received in March exceeded 40,000.
The company emphasizes that during quarantine it remains in touch with customers offline, online, in social networks, instant messengers. All products that ARX offers are sold as normal.
ARX has been operating in the insurance market for 25 years, the number of its customers is about 1 million. It is represented by 70 offices in all large cities of Ukraine, has 1,530 insurance agents, 90 operators of contact centers.

,

ARX (FORMER AXA) INSURER COLLECTES IN UKRAINE MORE THAN UAH 1 BLN IN PREMIUMS

ARX Insurance Company (formerly AXA Insurance, Kyiv) in January-June 2019 collected more than UAH 1 billion in premiums, which is 23% more than in the first half of 2018, according to a press release of the insurer. The amount of insurance claim fee payments for this period amounted to about UAH 473 million, which is 4% more than in the same period of 2018.
The company notes that the main drivers of growth were KASKO with 19% more premiums collected, voluntary medical insurance with 43% more premiums, online sales with 2.1-time more premiums, agricultural insurance with 3.9-time more premiums compared to the same period last year.
As reported, from July 1, 2019 AXA Insurance was renamed ARX Insurance Company. AXA Life Insurance began operating under the ARX Life brand.
The companies continue to work with all the banks, car dealers, partners in the regional network, corporate clients, as well as with the same assistance companies and contractors. The main shareholder of both companies is Fairfax Limited (Canada).

, ,