Proceedings of the Russian Conference on Digital Economy and Knowledge Management (RuDEcK 2020)

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

Authors
V.A. Verzilin, Ju.V. Narolina
Corresponding Author
V.A. Verzilin
Available Online 1 August 2020.
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/).

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Volume Title
Proceedings of the Russian Conference on Digital Economy and Knowledge Management (RuDEcK 2020)
Series
Advances in Economics, Business and Management Research
Publication Date
1 August 2020
ISBN
10.2991/aebmr.k.200730.129
ISSN
2352-5428
DOI
10.2991/aebmr.k.200730.129How to use a DOI?
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  -