BAKU, Azerbaijan, Dec. 21
By Tamilla Mammadova – Trend:
The demand for private health insurance in Georgia has increased in 2020, while the demand for auto insurance has dropped, said President of the Georgian Insurance Association Devi Khechinashvili, Trend reports via Georgian media.
“The first quarter of 2020 was very successful with figures showing an upward trend both in terms of premiums and number of customers. Unfortunately, the lockdown announced in the country stopped the growth and affected all types of insurance differently. In particular, the number of healthcare clients is growing every month, but vehicle insurance is on the decline. It is quite clear that people are more interested in health than cars during the pandemic. Those who have limited financial resources prefer to insure their health,” he explains.
According to Khechinashvili, the costs of insurance companies are also growing.
"Apart from the patients, insurance companies have to treat those who have some complications after coronavirus infection,” ne pointed out.
Khechinashvili said in 2020 the insurance sector is not growing, but as a whole does not appear to be threatened.
“The 2021 will not be easy even if the vaccine arrives in time, in any case, the process will drag on at least until the summer at best. The first half of 2021 will also most likely be complicated by the coronavirus and insurance companies should not expect revenue growth. Overall, the year will be very difficult, ” Khechinashvili said.
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