Russian Firm Launches On-Line Insurance Operation
The Renaissance Insurance Group, a Russian insurer, says it has launched Russia's first online insurance company, Renins.com. The firm says its website is its "virtual office" and provides a platform for building a major Internet subsidiary to serve Russia's growing insurance and online markets.
"As an industry leader focused on being first to market with the best available products and services, we were committed from the start to introducing online service and building an e-commerce brand as soon as possible," said Boris Jordan, chief executive officer of the Sputnik Group. "We are excited to be first in offering Russia's online community insurance products, a business which will grow exponentially in step with the Russian Internet."
As a pioneer of Russian e-commerce, Renins.com is, for the first time, offering Russian companies and individuals the option of shopping for insurance products in a convenient, user-friendly, information-rich and secure online environment.
At the site, customers can purchase a liability, property and travel insurance at any time or day of the week. They can also access information about Renaissance's products and services; find answers to frequently-asked questions; learn more about the Group; view insurance procedures and terminology; discuss insurance and related issues with other visitors to the site's chat room; and research new developments in the domestic and international insurance markets.
A company customer service representative is available online to provide further information and assistance.
After insurance policies are chosen, they are purchased by filling out an order form, providing credit or debit card information and submitting the form electronically on the website. Sales are confirmed by telephone in approximately 20 minutes and a hard copy of the policy is mailed to the customer within a day.
Customers not using credit or debit cards place their orders and print out an invoice which they use to make payment in cash at their local Sberbank branch or at a Renaissance Insurance location. Payments are made via the ASSIST payment system and the security of the transaction and the customer's confidential information are protected by the SSL payment security system.
"Successful pre-launch trials of renins.com have confirmed our belief that there is a growing online niche in Russia's insurance market and that e-commerce can become an electronic 'super agent,'" said Renaissance Insurance General Director Ilya Mikhailenko. "We expect that accessibility, ease of use, richness of information and security will make our online service a growing point of sale and, eventually, a major source of new business and policy renewals."
Founded in 1996, the Renaissance serves corporate and individual clients, providing auto, health, life and property and casualty insurance products. The Group is a portfolio company of The Sputnik Group, a leading Western direct equity investment firm based in Russia.