Insurance companies accredited by Sberbank insurance. Accredited mortgage insurance companies of Sberbank
When purchasing a home with a mortgage or a car on credit, insurance of the loaned item is a mandatory condition of the loan agreement, and the financial institution offers clients accredited Sberbank insurance companies to purchase insurance. There are unspoken restrictions on the purchase of insurance - a credit institution is more willing to accept insurance policies from partner companies.
What is accreditation of insurance companies
Bank insurance is provided to reduce the risk of non-payment by the borrower in the event of damage to the pledged property or complete loss of the collateral. When an insured event occurs, the obligation to repay the client's debt passes to the insurer, so financial organizations strive to work with reliable partners. A company obtains accreditation for insurance operations when issuing loans after the conclusion of a cooperation agreement between the bank and the insurance organization.
Accreditation of insurance companies with Sberbank is a lengthy process. It is necessary to submit an application to the credit institution, provide the form, the terms of the insurance contract and agree on them. The bank can approve a candidate after studying documents confirming the reliability of the future partner: constituent documents, financial reports and licenses. The insurer must meet the following requirements:
- has been on the insurance market for at least three years;
- it must not be bankrupt or in liquidation;
- he is prohibited from having arrears in payments to creditors;
- demonstrate good financial performance;
- the founders and leaders of the organization must not have a criminal record;
Insurance companies accredited by Sberbank
Cooperation in the field of insurance is beneficial for both parties:
- The insurer gets the opportunity to attract additional clients with the help of the bank.
- A financial institution can increase its income by receiving a commission for issuing an insurance policy.
There are disadvantages of cooperation - in order to cover the costs of paying commissions to the bank, the insurer is forced to increase risk interest, so the cost of policies for clients increases. The borrower will be able to save on insurance if he buys an insurance policy himself. The selected insurer must meet the bank's requirements and provide insurance services on the terms and conditions determined by the financial institution.
A complete list of accredited insurance companies of Sberbank is published on the official website of the credit institution; it includes:
- LLC IC "Sberbank Insurance";
- Absolut Insurance LLC;
- LLC "SF "Adonis";
- JSC "AIG";
- OJSC "AlfaStrakhovanie";
- JSC "VSK";
- LLC IC "VTB Insurance";
- LLC "Insurance Company "Helios";
- JSC "Insurance Company "DIANA";
- Zetta Insurance LLC;
- SPAO "Ingosstrakh";
- Liberty Insurance (JSC);
- JSC National Insurance Company TATARSTAN;
- LLC SK Independent Insurance Group;
- JSC SK PARI;
- JSC SK REGIONGARANT;
- Renaissance Insurance Group LLC;
- SPJSC "RESO-Garantiya";
- PJSC IC "Rosgosstrakh";
- CJSC SK RSHB-Strakhovanie;
- LLC "Insurance Company "SDS";
- JSC "SOGAZ";
- JSC Insurance Group Spasskie Vorota;
- JSC RSK Sterkh;
- LLC "SO "Surgutneftegas";
- Transnational Insurance Company LLC;
- JSC SK Chulpan
How to get insurance at Sberbank
The borrower should take into account the following positive aspects of purchasing a policy from the bank’s partner companies:
- A client who has received a list of accredited insurance companies from Sberbank does not need to check the reliability of the insurer. He can buy insurance without fear and be confident of receiving compensation in the event of unforeseen circumstances.
- A citizen may not visit an insurance organization because the bank is involved in drawing up an insurance contract.
Sberbank insurance online
Bank clients have the opportunity to reduce the time it takes to purchase a policy - they can use the online insurance registration service. To do this, you need to log in to the system through your personal account, in the “Payments and Transfers” section, find the “Investments and Insurance” tab. Then go to the “Sberbank Insurance” section, select the type of insurance and make payment. After completing the above operations, the client receives the insurance policy at the specified email address.
What documents are needed to issue an insurance policy?
The list of documents for purchasing insurance depends on its type. For life and health insurance you must provide:
- passport,
- insurance number of an individual personal account.
When signing a property pledge agreement, you will need property documents:
- vehicle registration certificate and driver’s license for car loans;
- documents for real estate when applying for a mortgage;
Sberbank insurance programs
Among the bank's insurance offers, it is necessary to highlight programs that are mandatory in certain conditions. So, when signing a mortgage or taking out a car loan, the lender requires collateral and insurance of the purchased property. Voluntary types of insurance include insurance:
- title (property rights);
- life and health.
Life and health insurance
The bank specialist will insist on purchasing this type of insurance, although it is not mandatory. The borrower's registration of an insurance policy serves as a guarantee for the bank of repayment of borrowed funds, therefore the percentage of refusals on insured loans is insignificant. In the event of injury, disability, or death, Sberbank's accredited insurance companies repay monthly payments during the period of temporary disability or work, and pay the debt in full in the event of the borrower's death.
Payments are made after filing an application with the insurer and providing the following documents:
- a questionnaire to establish the circumstances of the occurrence of an insured event;
- insurance;
- extracts from a medical card about illness or certificate of disability;
- death certificates;
Mortgage insurance at Sberbank
Buying real estate on credit involves drawing up a long-term loan and collateral agreement with mandatory insurance of the pledged property. Where to insure? Real estate insurance is issued by the accredited insurance companies of Sberbank listed above, and you can receive an agreement from a partner company at a bank branch or by email. The risk rate is within 0.225% per annum, the amount of insurance depends on the value of the property, mainly it ranges from 4-10 thousand rubles.
Mortgage apartment insurance
It must be taken into account that if you purchase housing not from the developer, but on the secondary market, you may lose ownership of the property. A purchase and sale transaction may be declared invalid due to the discovery of heirs if their interests were not taken into account during the re-registration of property; declaring the person who sold the property incompetent. To eliminate the risk of returning the debt to the bank for property recognized as someone else’s, you can insure the ownership of the apartment (title). If the title is lost, the insurer will pay off the debt.
Consumer credit insurance
Loans for everyday needs are issued for a relatively short period, therefore the risks of non-repayment of loan funds are small, but bank employees insist on purchasing insurance. You can cancel the insurance policy and receive 87% of your funds if you apply within 30 days from the date of purchase, or half the cost if you apply from 30 to 60 days. If the debt is repaid before the end of the loan period, the borrower can receive an insurance amount proportional to the remaining loan term.
Bank insurance
The list of accredited insurance companies of Sberbank includes Sberbank Insurance LLC, which provides all types of insurance. The proposed insurance programs can be divided into groups according to their purpose:
- Products: travel insurance; from accidents and diseases; protection of loved ones – provide insurance for citizens against unforeseen circumstances.
- Programs: home protection; insurance of collateral and car loans (CASCO), bank cards - involves protecting property from damage or complete loss.
- Multipolicy Without Worries provides comprehensive insurance of property, life and health, and civil liability against unforeseen circumstances.
- In addition to protection, accumulative and investment insurance presupposes the receipt of income.
Insurance companies-partners of Sberbank for mortgages
The above accredited insurance companies of Sberbank of Russia pay compensation for damage caused to property. The owner of the insured property must submit an application to the insurer within three days after the occurrence of unforeseen circumstances and provide confirmation of them. The basis for payments is an act of fire, burglary, etc., it is compiled by the relevant services (utilities, fire departments).
Which insurance companies does Sberbank work with for car loans?
All of the listed partner companies sell CASCO packages when purchasing a car and provide compensation for actual damage in case of an accident, car theft and in other specified cases. When choosing an insurer, motorists look for low rates. In search of a cheap option, you need to calculate the cost of the policy and compare the results. It is important to study the terms of the contract - it is profitable to buy a CASCO package from an organization that sends its representative to the scene of an accident and helps collect documents.
Video: is credit insurance required?
Those wishing to take out a loan to purchase a home or making other transactions using real estate as collateral should know that insurance for a Sberbank mortgage is required - without it it is impossible to draw up a loan agreement. Clients are offered certain accredited mortgage insurance companies of Sberbank, which issue real estate insurance contracts. The bank considers these companies to be its reliable partners and offers their services to clients without the need for additional reliability checks by the insurer.
What is an accredited insurance company?
The mortgage is taken out for a long term - the loan can be issued for 20 years or more. There is a possibility that something bad could happen to the borrower or the property - the borrower will lose health or die, the property will be damaged or lost due to force majeure. To reduce risks, the financial institution insists on insuring the borrower’s property and health. Certain insurance companies accredited by Sberbank are offered for processing transactions.
If a company is accredited by a financial institution, this means that its activities inspire confidence in the bank, and all procedures for verifying the compliance of its work with the statutory provisions have been completed. The list of accredited insurance companies at Sberbank is large - some are engaged in property insurance, others issue life insurance contracts for borrowers.
Sberbank requirements for mortgage insurance
According to the Federal Mortgage Law, under Art. 31, provides that the borrower must insure the property pledged under the mortgage at his own expense in order to mitigate the consequences of a likely situation when an apartment or other real estate becomes uninhabitable due to damage or destruction. When concluding a mortgage agreement, Sberbank's requirement to obtain insurance for the mortgaged apartment or house is mandatory.
All Sberbank mortgage products indicate that the borrower takes out personal health and life insurance voluntarily, with the opportunity to refuse this procedure. However, if Sberbank's mortgage partner insurance companies enter into such an agreement with the borrower, the commission interest rate is reduced by 1% per annum. This is how the bank encourages clients to interact with accredited insurance firms.
Property insurance
Any real estate transferred to the Security Council of the Russian Federation as collateral goes through an assessment procedure and is insured. Accredited organizations have a standard list of circumstances under which an insured event occurs. These include the following situations:
- natural disasters - fires, floods, hurricanes, tornadoes;
- damage to property from unlawful actions of other persons;
- urban disasters - fires, explosions, terrorist attacks, flooding, plane crashes;
- any financial risks due to the loss of an apartment or house;
- loss or damage to property from third-party intervention.
Borrower's life and health insurance
Accredited mortgage insurance companies of Sberbank enter into agreements with borrowers concerning their own life and health. If the client draws up such a document, then his family and friends will not be required to pay the issued mortgage in the event of an insured event; everything will be covered by the money received from an accredited insurer. The document specifies the following cases:
- death of the borrower;
- disability resulting in loss of solvency;
- severe chronic diseases;
- receiving injuries incompatible with further performance.
Advantages and disadvantages of mortgage insurance
Concluding a loan agreement with the mortgaging of residential property involves additional paperwork, for which the borrower himself has to pay - an expert assessment of the value of housing, its insurance. The disadvantages of the insurance procedure include the following:
- high cost of contract execution;
- the need to constantly make payments of the specified interest under the contract;
- a large package of documents;
- the need to prove the occurrence of an insured event;
- limited choice of insurers.
However, there are advantages to insurance deals. These include:
- Low interest rates on loans.
- There is no obligation to repay the loan if a situation stipulated by the contract arises - all costs are borne by accredited insurers.
Where to insure a Sberbank mortgage
Having many mortgage products, the Security Council of the Russian Federation is interested in the integrity of insurers, therefore all insurance agencies offering their services undergo mandatory verification of their activities. If the required standards are met, Sberbank considers the company accredited and invites clients to use its services. The borrower can independently find an insurance company, however, the bank will conduct a total audit of its work, requiring many documents, the list of which is indicated in a separate list. It takes about a month to review an application in such a situation.
Which insurance companies does Sberbank work with?
This financial and credit organization cooperates with many companies. All of them are accredited and reliable. The list of companies can be seen in the table below:
How much is insurance
If a property is insured, the agency concluding the contract takes into account bank calculations. They indicate what amount will be the most acceptable in the event of an event stipulated by the agreement, so that the bank does not incur losses. Standard contracts of accredited organizations set a tariff of 0.15% of the mortgage amount. Agencies do not have the right to request a higher percentage from the client, but they can reduce interest rates at their discretion.
If the life of the borrower is insured, then the price difference is 0.3-1.5% per annum of the loan amount. The rate is affected by the age, presence or absence of chronic diseases of the borrower, the period for which the loan is taken, and its size. Accredited mortgage insurance companies of Sberbank in this case have the right to set their own rates, taking into account various circumstances.
Where is it cheaper to insure a mortgage?
Any client is faced with the question of which accredited companies are the most profitable to insure in order to pay as little money as possible. In the table below you can see the conditions of different organizations offering their services:
How to get insurance
The main document indicating that the borrower's property or life is insured is an insurance policy, which will have to be renewed annually. To receive it, you must write an application. It contains the following data:
- name of the mortgage product;
- loan amount;
- all personal data of the client;
- the period for which the mortgage is taken out;
- insurance risks;
- medical indicators of the policyholder.
The application must be accompanied by all documents on the mortgaged property - a certificate of ownership of the apartment, an extract from the house register, an expert assessment of the value of the property, the consent of the policyholder's spouse to the loan, a copy of all pages of the passport, a bank certificate of receipt of the mortgage. The insurance contract stipulates that the recipient of the final benefit is the bank. The amount of annual premiums that the policyholder must pay must be specified.
When applying for a loan, each bank strives to minimize the risk of loss of collateral. Therefore, each lender chooses reliable partners that it trusts to insure the property and life of the borrower.
Loans for various purposes, mortgages, real estate insurance, life and health insurance of the borrower, and car insurance are subject to insurance.
If you choose a company that does not cooperate with Sberbank as an insurer, then when applying for a loan you must provide documents from the list of “Mandatory requirements for insurance companies.”
They will indicate the reliability of the insurance organization, its status (not bankrupt), and does not deny Sberbank’s requirements for car insurance.
The price of a CASCO policy, which is mandatory for car loans, can vary significantly from company to company depending on the characteristics of the car.
When you take out a loan for a car, you actually leave it as collateral to the bank until full payment is made. The bank must have guarantees that the pledged property will be safe.
Sberbank does not provide a loan to buy a car without a policy.
Insured events include theft, death in a car accident or partial damage. In case of complete loss of the vehicle, compensation is made in favor of the creditor bank.
The debt amount is returned to the bank, and the remainder of the insurance amount goes to the borrower. In case of partial damage, the CASCO policy makes a payment to the owner of the vehicle.
There are many nuances taken into account when purchasing car insurance. Choose an insurer that does not require certain conditions for storing the car at night. That is, if your car is stolen in an unauthorized parking lot near your house, you will not receive insurance.
Apartment insurance with a mortgage
As already mentioned, insurance when taking out a mortgage loan is mandatory. Housing is most often insured for its full value, but sometimes this is an amount that is 10% greater than the loan amount. The monthly insurance premium is 02–05% of the loan amount.
The insurance is paid by the borrower from his own money annually in a single payment. The recipient of payments in the event of an insured event is the bank. The funds are used to pay off the loan debt.
The contract may include additional clauses regarding the conditions of the occurrence of an insured event and the terms of payment of the insured amount. The list of risks itself must be studied in detail before signing an insurance agreement. For example, a case of destruction of a house due to a violation of the integrity of the foundation.
1. List of insurance companies accredited by Sberbank participating in the insurance of property that is the subject of pledge.
2. List of insurance companies accredited by Sberbank that participate in life and health insurance of borrowers—individuals.
2. Insurance companies accredited by Sberbank in 2018 (life and health insurance)
Sberbank PJSC invites insurance companies to take part in insuring the risks of death of insured persons for any reason and permanent disability (assigning disability group I or II to the insured persons) as part of loan products for individuals.
To participate in the selection, the insurance company must provide a package of necessary documents to the Sales Department of Welfare Products of Sberbank PJSC to verify compliance with the Bank’s mandatory requirements for insurance companies and the conditions for the provision of insurance services.
The period for reviewing documents is no more than 60 working days from the date the Bank receives the full package of documents in accordance with the list established by the Bank.
The list of insurance companies involved in insuring the risks of death and permanent disability (assigning disability group I or II to insured persons) within the framework of loan products for individuals is posted on the Bank’s website.
Insurance companies that meet the Bank's requirements for insurance companies and the conditions for the provision of insurance services are invited to enter into a Cooperation Agreement.
Acceptance of insurance coverage by an insurance company that is not included in the list of insurance companies involved in insuring the risks of death and permanent disability (assigning disability group I or II to the insured persons) within the framework of loan products for individuals
The borrower has the right to insure life and health in any insurance company that meets the Bank’s mandatory requirements for insurance companies and the conditions for the provision of insurance services.
Insurance protection is accepted at the request of the borrower after checking the insurance company for compliance with the requirements of Sberbank PJSC for insurance companies and the conditions for the provision of insurance services.
The period for consideration of the borrower's application to accept the protection of a non-accredited insurance company is no more than 30 business days from the date the Bank receives the full package of documents in accordance with the list established by the Bank.
LLC IC "Sberbank Life Insurance"
Absolut Insurance LLC;
LLC "SF "Adonis"
JSC "AlfaStrakhovanie"
JSC "VSK"
LLC IC "VTB Insurance"
Zetta Insurance LLC
SPAO "Ingosstrakh"
Liberty Insurance (JSC)
JSC SK PARI
SPAO "RESO-Garantiya"
JSC "SOGAZ"
LLC Insurance Company Surgutneftegaz;
JSC IC "Chulpan"
PJSC "SAC "ENERGOGARANT"
Note.
The presence of an insurance company in the list of participants in life and health insurance does not guarantee compliance of the terms of the insurance contract with the mandatory Requirements of the Bank. Before signing a life and health insurance contract, you must make sure that it complies with the specified Requirements.
Life and health insurance for Sberbank borrower
Each bank (and Sberbank is no exception) works with a certain list of insurance companies, whose activities have been verified and meet all the bank’s requirements.
Sberbank PJSC invites insurance companies to participate in the insurance of property that is the subject of collateral.
LLC IC "Sberbank Insurance";
LLC "SF "Adonis";
JSC AlfaStrakhovanie;
JSC "VSK";
LLC IC "VTB Insurance";
LLC SK Granta;
Zetta Insurance LLC;
SPAO "Ingosstrakh";
Liberty Insurance (JSC);
LLC SK Independent Insurance Group;
JSC SK PARI;
SPJSC "RESO-Garantiya";
JSC IC RSHB-Insurance;
JSC "SOGAZ";
LLC "SO "Surgutneftegas";
JSC SK Chulpan.
* Insurance companies that have entered into a Cooperation Agreement with the Bank.
As Sberchek was informed by the Security Council of the Russian Federation, in the above lists all insurance companies are accredited by Sberbank. The presence of an additional agreement implies a clearer developed regulation of interaction between Sberbank and an accredited insurance company.
This is an internal document that does not affect accreditation.
Accreditation – what is it and what is it for?
The concept of accreditation includes 2 main properties that are endowed to legal entities that have passed this procedure. persons, in our case insurance companies, are:
- Providing trust on the part of the inspection body to carry out statutory activities.
- Recognition of the company's activities as reliable, complying with the norms and rules existing in the insurance services market.
The list of insurance companies accredited by Sberbank includes organizations that have expressed a desire to cooperate with the specified lender, have provided it with a full package of necessary documentation and have been verified by the bank’s internal services.
These companies participate in bank transactions where an insurance policy is required. If for some reason the borrower chooses an organization that is not accredited, it is necessary to provide a complete package of documents in accordance with the list provided by the bank.
The list of insurance companies participating in the insurance of collateral is posted on the Bank's website.
Acceptance of insurance protection for collateral property from an insurance company not included in the list of insurance companies participating in the insurance of collateral property
The borrower/mortgagor has the right to insure the collateral property with any insurance company that meets the Bank’s mandatory requirements for insurance companies and the conditions for the provision of insurance services.
Insurance protection is accepted at the request of the borrower/mortgagor after checking the insurance company for compliance with the requirements of Sberbank PJSC for insurance companies and the conditions for the provision of insurance services.
Insurance services from Sberbank of Russia
Insurance when applying for any loan at Sberbank protects the interests of both the borrower and the lender. The borrower always pays for it.
If you want to protect yourself from loss of solvency in the event of unforeseen life circumstances, buy an insurance policy. It is especially relevant for long-term lending.
Endowment life insurance. By a certain date, the client accumulates a certain amount, and also has the opportunity to receive additional investment income;
Accident and illness insurance. In case of unforeseen situations specified in the contract, the consumer receives insurance protection for himself and his loved ones;
Investment life insurance. A product that makes it possible to receive not only insurance protection, but also a certain income;
"Protection of loved ones." This program guarantees that in the event of an insured event, the client and the persons specified in the contract are provided with reliable insurance protection;
"Protection of the home." The insurance program applies to residential properties;
Insurance of collateral, housing and car loans for individuals. This line was created specifically for insuring real estate and vehicles that were taken out on credit;
Insurance for bank card holders. Protection of client funds and the possibility of returning lost amounts;
Taking out an insurance policy is one of the ways to reduce risk when lending. Therefore, almost all banks, including the undisputed leader of the country’s financial industry, Sberbank, offer borrowers who have received insurance more favorable interest rates on loans issued. In this case, only those policies are accepted that are issued by accredited insurance companies (ICs), that is, those that meet the requirements set by the credit institution.
Features of insurance in Sberbank
The structure of the Sberbank financial holding company includes two insurance companies that are subsidiaries of the parent credit organization - Sberbank Insurance and Sberbank Life Insurance. Obviously, these are the companies that are recommended to clients of the country's largest financial institution for obtaining insurance in the first place.
In addition, the banking organization has accredited several companies for each type of insurance, whose policies can also be accepted as documents when processing various bank loan products. A complete list of them is given on the following pages of the site:
- For companies insuring the life and health of Sberbank clients – sberbank.ru
- For companies providing property insurance of mortgage collateral - sberbank.ru
At the beginning of 2018, the first list included 15, and the second list included 18 insurance companies.
This number includes, in addition to the subsidiaries of Sberbank, the largest participants in the domestic insurance market, included in the top 10 of almost all ratings, for example, SOGAZ, VSK, AlfaStrakhovanie, RESO-Garantiya and other companies.
What does the bank offer?
A separate section is dedicated to insurance services on the official website of Sberbank, located on sberbank.ru. Of course, own Internet portals have been developed for each of the subsidiaries of the insurance companies mentioned above.
They are located at the following addresses:
Sberbank insurance– sberbankins.ru
Sberbank life insurance- sberbank-insurance.ru
First Insurance Company specializes in property insurance, as well as other types of insurance not directly related to protecting the health and life of clients. The second insurance company, on the contrary, is engaged in issuing policies that provide for the occurrence of diseases and other negative consequences for the health and life of clients as an insured event.
Innovations for 2018
A special feature of Sberbank’s work in 2018 is the opportunity to receive comprehensive insurance services, the offer of which is posted directly on the official website of the parent bank at the address indicated above. The number of insurance programs offered by the country's largest bank is extremely large. Moreover, new products are constantly appearing, offered to clients both by Sberbank subsidiaries and other insurance companies accredited by the bank.
Cost of insurance
When calculating the cost of insurance, a large number of factors are taken into account, the main ones being the type of policy being issued and the object of insurance. For example, insuring the collateral for a mortgage costs the borrower approximately 0,3-0,4% from the value of the property. Prices for issuing a personal insurance policy vary widely and can range from 0.75% to 2.5% from the insured amount, and for some types even exceed the specified values.
Mortgage insurance at Sberbank
Sberbank has accredited 18 insurance companies to insure mortgage real estate, including a subsidiary of a financial organization called Sberbank Insurance. All of them comply with the bank’s requirements, which are set out on sberbank.ru
Conditions
Each organization independently determines the terms of the insurance offered to Sberbank clients. This is the essence of competition, when a mortgage borrower has the opportunity to choose a commercial offer that is more profitable for him. As a result, despite Sberbank’s active lobbying of the interests of its subsidiary insurance companies, not all clients prefer to work with them.
This is not surprising, given the fact that the number of accredited insurance companies includes almost all the leaders of the country's insurance market.
Review of accredited insurance companies
A complete list of insurance companies accredited by Sberbank is provided on sberbank.ru. Despite the fact that it is compiled in alphabetical order, it is quite logical to mention the most serious participants in the list, which include:
- RESO-Garantiya. It ranks 2nd in the rating of Russian insurance companies based on the results of 2017, second only to Sberbank Life Insurance. Last year, the company collected more than 89 billion rubles from clients in the form of insurance premiums. Mortgage insurance rates range from 0.16% to 0.68%;
- VTB Insurance. This insurance company occupies the next place in the ranking of the country's largest insurance companies. For mortgage borrowers, a preferential insurance program is offered, which provides for issuing a policy not for one year, as usual, but for 3 or 5 years at once;
- AlfaInsurance. The insurance company is a member of one of the country's leading financial holdings, Alfa Group, and the largest private participant in the insurance market. It is in 4th place in terms of the volume of insurance premiums collected in 2017;
- VSK. It ranks 5th in the ranking of insurance companies. What stands out among competitors is the variety of products and types of insurance offered, including mortgage real estate.
Among the other insurance companies accredited by Sberbank, there are two more that are in the top 10, namely: Ingosstrakh and SOGAZ. As a result, clients of a financial institution are given the opportunity to choose the most profitable of several offers made by the leaders of the country’s insurance market.
Life and health insurance
The list of companies that are accredited by Sberbank to insure various credit products, with the exception of mortgages, is given on sberbank.ru. It includes 15 insurance companies that meet the requirements of a credit organization formulated on sberbank.ru.
Conditions
The conditions for life and health insurance offered by different companies when applying for a loan from Sberbank may differ quite noticeably. This is also facilitated by the fact that the rate is tied to the insured amount, which also varies at the request of the client, in contrast to a mortgage, where the value of the property is clear and determined during the assessment. As a result, the price of insurance varies from 0.75% to 3-4% of the value of the insured amount and is determined individually for each loan product and client.
Insurance programs
The following insurance programs are offered to Sberbank clients directly on the official website of the financial organization:
- Multipolis “No worries”. A unique offer that includes almost all types of insurance;
- Home protection. Intended for mortgage loan recipients;
- Protecting loved ones. Provides guarantees to clients in the event of damage to the health of their family and friends;
- Accident and illness insurance. A popular type of life and health insurance. In demand due to the low level of tariffs and the large number of insurance cases included in the policy;
- Travel insurance. The eloquent name of the insurance product does not require additional explanation;
- Insurance for Sberbank plastic card holders. A relatively new insurance product that is popular in the market. This is due to the large number of credit and debit cards issued by the bank;
- Savings and investment life insurance. These types of insurance are offered to privileged categories of financial institution clients who use the services of the Sberbank First and Sberbank Premier packages.
Review of accredited insurance companies
Most of the companies described above as part of the list of organizations accredited by Sberbank for mortgage insurance are allowed by the credit institution to issue life, health and other types of policies. This number includes AlfaStrakhovanie, VSK, Ingosstrakh, RESO-Garantiya, SOGAZ, VTB Insurance. In addition, the following companies are accredited:
- Sberbank life insurance. Based on the results of 2017, the subsidiary structure of the parent bank topped the rating of participants in the country’s insurance market. The company collected almost 32 billion rubles in insurance premiums over the year, which is noticeably more than all its competitors. A significant role in this was played by active lobbying of the interests of the insurance company by Sberbank, which has the largest client base in Russia;
- Zetta Insurance. The company closes the top 30 in the ranking in terms of the volume of insurance premiums collected in 2017. Among the main achievements of the organization is offering clients more than 9 dozen different insurance programs;
- Liberty Insurance. It is in 40th place among the largest participants in the Russian insurance market. It is part of the international insurance group of the same name, which provides the company with a reliable financial base and a stable position that distinguishes the organization from many Russian competitors;
- CO Surgutneftegaz. Belongs to one of the largest oil enterprises in the country. As a result, it is one of the regional leaders in the insurance market of the Urals and Western Siberia, where the main production facilities of the parent organization are located. Like the main company, the Insurance Company is a client of Sberbank, which is the main reason for mutually beneficial cooperation;
- Absolute Insurance. It is included in the top 50 of the country's insurance market, ranking 48th in the 2017 ranking. The main feature of the insurance company registered in the capital is its active work with Sberbank clients, as well as participation in the credit organization’s loyalty program “Thank you from Sberbank.” As a result, serious benefits and discounts are provided for borrowers of the country's leading banking sector, which allows SK Absolut Insurance to significantly increase its own client base.
What does accreditation of a company by Sberbank mean?
Sberbank is the undoubted leader in the country's banking sector. As an example, we can cite the following data: in terms of assets, it is almost 2.5 times ahead of VTB, which is in 2nd place in the ranking. The logical consequence of this situation is the presence of a huge customer base. It is not surprising that any insurance company would like to be among those accredited by Sberbank. However, doing this is far from easy even for large and well-known insurers.
For example, the recent leader of the country's insurance industry, Rosgosstrakh, lost its accreditation with Sberbank in the second half of 2017 due to violation of several requirements of the credit institution. This decision almost immediately affected the financial condition of the insurer, which had previously been the most stable. Moreover, at the end of 2017, Rosgosstrakh insurance company immediately dropped by 9 places in the ranking of the largest insurance companies, falling from 1st to 10th place. It is important to note that the outlook for 2018 for the insurer is also very unfavorable. The above example shows the importance of successful cooperation between an insurance company and Sberbank and the availability of the accreditation necessary for this.