How Pampadu Helps Agents

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In 1921, the company Gosstrakh was founded in the USSR, and its successor in the new Russia was Rosgosstrakh. Soviet citizens were offered: Life insurance policies. Property insurance - agricultural machinery, livestock. At first, the policies were very expensive. And the amounts of insurance compensation were small due to the constant fall of the ruble. Photo source: fruitnice.ru In the 1930s, the state began to intensively develop the market. The conditions became more favorable. Advertisements about the advantages of insurance began to appear on the pages of the newspapers of that time. The prosperous period was in the 1960s. But in the 90s, the insurance sector was in decline - like other sectors of our country's economy.


Register and evaluate all earning opportunities for chinese overseas europe data free Register Revival of the life insurance market in Russia It began in 2008, after the global financial crisis. More banks began offering these services. The first clients were borrowers. By the way, in Russia, some policies are still issued upon mortgage approval. Life insurance is considered voluntary. The exception is a number of professions where insurance is mandatory, but it is issued by the employer. However, a mortgage loan is not issued without purchasing a policy. The difficult period came in 2020. Then, against the backdrop of pandemic restrictions, citizens' incomes decreased. Banks tightened requirements for client risk metrics.


This led to a drop in the volume of lending to citizens. Many, as it turned out, purchased a policy when applying for a mortgage or other serious loans. The number of life insurance and health contracts dropped to 28%. Source: Bank of Russia . However, in 2021, the situation changed. Coronavirus restrictions began to be lifted. Banks began to issue loans more often. Requirements were relaxed. This had a beneficial effect on the insurance sector. The number of contracts concluded with insurance companies increased by 49%. In 2022, due to socio-economic circumstances, there was another decline. True, not as serious as the previous one - by 6.