At the same time, as the Bureau's data show, total number of MTPL insurance contracts decreased by 1.9% y-o-y, while total MTPL GWP grew by 2% and reached AMD 4.8 billion (~EUR 8.7 million).
Total number of claims during the first quarter increased by 3.3% y-o-y, while the total volume of paid claims amounted to AMD 4.1 billion (+10.4%). MTPL loss ratio decreased to 64% from 74% a year earlier. At the same time, total number of vehicles insured under MTPL grew by 9.7% and reached 558,158 units.
Online sales of MTPL started in November 2017 as part of the transition to a single window system and a single platform for the insurance market under the project "Armenian Single Window for Automative - ASWA". In February 2020, the next stage for MTPL digitalization began - the registration of insurance claims under European Accident Statement through ASWA mobile app being established, ArmInfo wrote.
*EUR 1 = AMD 552.07 (01.04.2020, National Bank)