PRO.Insurance

Does an insurance policy seem like rocket science, and communicating with an insurance company feel like a difficult quest? To change this, the National Association of Insurers of Ukraine (NAIU) has launched the educational project “PRO.Insurance.” This is an initiative whose main goal is to speak about financial services in simple and accessible language, increasing the financial literacy of Ukrainians and fostering a community of informed consumers.

Educational Mission: From a Confusing Obligation to a Reliable Partner

At the core of the “PRO.Insurance” project is a simple but important philosophy: to transform insurance from a complex and sometimes incomprehensible obligation into a reliable and effective tool for financial protection for every family. We strive to ensure that every Ukrainian not only buys a policy but consciously chooses the protection that meets their needs, understands their rights, and knows how to use them confidently.

From Simple to Complex: How the Project is Structured

“PRO.Insurance” is implemented in an audio-podcast format, where experts break down the most diverse aspects of insurance. The project is built on the logical principle of “from simple to complex.”

The first episodes were dedicated to the basics: listeners learned what insurance is in principle and the key difference between non-life and life insurance products. This allowed for a solid foundation to be laid for understanding more specialized topics.

Subsequently, the project delves into a detailed analysis of specific products that are most relevant to Ukrainians – CASCO, VMI (Voluntary Medical Insurance), property insurance, and life insurance with and without a savings component.

Transparency and Objectivity — A Key Principle

It is important to emphasize that “PRO.Insurance” is an exclusively educational, not an advertising, initiative. The key principle of the project is objectivity. Each episode is prepared based on a thorough analysis of real products offered by market leaders, but the information is presented in a generalized way to give listeners an objective picture of the market. We always stress that the terms and conditions of different insurers may vary, and we urge consumers to carefully read their specific contract before signing.

What’s Next: Project Development Plans

NAIU has a long-term development plan for the project to cover the entire spectrum of topics important to the consumer. In addition to specific products, in the episodes of “PRO.Insurance,” we also break down:

  • Pre-contractual relations: what information a client should receive before concluding a contract.

  • Actions in the event of an insured incident: step-by-step instructions without panic.

  • Consumer rights: how to effectively protect your rights and where to turn in case of disputes.

“PRO.Insurance” is not just a podcast, but a strategic initiative of NAIU aimed at building transparent and trusting relationships between insurers and their clients. After all, an informed consumer is the key to a healthy, stable, and civilized insurance market.

We invite you to join the community of informed consumers and listen to the project’s episodes on NAIU’s official resources on YouTube.

A dialogue for trust

A Joint Step Towards Protecting Consumer Rights: NASU and NBU Hold a Working Meeting on Consumer Rights Protection

The National Association of Insurers of Ukraine (NAIU) held an important and productive working meeting with representatives of the Consumer Rights Protection Department of the National Bank of Ukraine (NBU).

This open dialogue was a response to the deep interest of insurers in improving market standards and proactively protecting the rights of their clients. Insurers are genuinely interested in a thorough understanding of the regulator’s approaches to enforcement, as this enables them to systematically improve their own processes and enhance the quality of services.

That is why the market initiated a discussion on key issues:

  • Pre-contractual practices and the conclusion of agreements;

  • Current approaches to insurance claims settlement;

  • Requirements for the transparency and completeness of information on insurers’ websites;

  • General aspects of activity monitoring and consumer rights protection.

NAIU expresses its sincere gratitude to the NBU’s Consumer Rights Protection Department team for their readiness to cooperate, detailed clarifications, and constructive stance. Such support is extremely important for the market’s efforts to raise service standards.

We are convinced that such meetings not only help improve compliance with regulatory requirements but also strengthen consumer trust and confidence in insurance services. The market demonstrates its readiness to work on building a civilized and reliable environment for every client under the supervision of the NBU.

On the Availability of War Risk Insurance

In the context of a full-scale war, the issue of protecting property, life, and business is of utmost importance. The Ukrainian insurance market, demonstrating remarkable resilience and adaptability, has developed and actively offers effective mechanisms for insuring against war risks. In a series of interviews with leading Ukrainian media outlets, Denys Yastreb, General Director of the National Association of Insurers of Ukraine (NAIU), explained in detail how this system works, dispelled common myths, and outlined future prospects.

Relevance of the Topic: From Caution to Accessible Protection

At the beginning of the full-scale invasion, Ukrainian insurers acted with extreme caution due to the complete unpredictability and lack of statistics regarding war risks. However, over time, having accumulated data, companies were able to develop and offer real products to citizens. Today, insuring property and vehicles against the consequences of missile attacks or falling drone debris has become an accessible and viable option for millions of Ukrainians.

As Denys Yastreb emphasizes, the demand for insuring housing and cars against the consequences of strikes is currently fully covered by the capacities of Ukrainian companies. This demonstrates the maturity and self-sufficiency of the domestic market, capable of providing financial protection even in the most challenging conditions.

Focus on Insurance: What, How, and How Much?

A key aspect is understanding what exactly can be insured and under what conditions.

What Can Be Insured? The service extends to housing (apartments, houses), vehicles (often as an option in CASCO/comprehensive auto insurance), as well as life and health. There are even programs for insuring individual elements, such as windows and doors.

What Does the Policy Protect Against? The insurance covers direct damage caused by falling missiles, drones, and their debris. It is important to note that risks associated with direct combat actions (artillery shelling, airstrikes) in territories near the front line are usually not covered.

Cost and Coverage Prices have become significantly more affordable. For example, an annual policy for a two-bedroom apartment in Kyiv can cost from UAH 5,000 with coverage of several million hryvnias. The cost of insuring a car is approximately 1% of its value.

Reliability Services are primarily provided by companies from the TOP-15 of the market, whose activities are supervised by the National Bank of Ukraine, which guarantees their solvency and reliability.

Unlike state compensation programs, insurance payments are made more quickly and can be used at one’s own discretion, giving citizens more flexibility in restoring their property.

A Look into the Future: Challenges and Legislative Initiatives

The main challenge remains the insurance of large industrial facilities, where losses can be colossal. To solve this problem, reinsurance mechanisms involving international partners are necessary. To this end, a draft law on war risk insurance is currently being discussed, which provides for the creation of a state agency for risk distribution and the establishment of clear rules for all participants. Although the project requires refinement, it can become a solid foundation for a partnership between business and the state in protecting Ukraine.

To bring this important information to the general public, the head of the National Association of Insurers of Ukraine conducted a series of clarifying interviews. Expert commentary was featured on Chornomorska TV, Kyiv TV channel, Radio Promin, and Hromadske Radio, and was also published in the “Komersant Ukrainskyi” newspaper.

Such media activity underscores the insurance community’s commitment to being transparent, providing citizens with comprehensive information, and increasing financial literacy on issues directly related to their safety and well-being.