Online insurance sector experiences exceptional growth, with VTB leading the charge
In the first half of 2025, VTB Bank, a leading financial services provider in Russia, has witnessed a significant increase in demand for insurance products. This surge in interest is particularly noticeable in key areas such as mortgage insurance, compulsory third-party liability insurance (CTPL), tick-borne disease coverage, fraud protection, and bundled insurance solutions.
The rise in demand for mortgage insurance aligns with broader market trends, as home financing and property acquisition remain top priorities for consumers. The necessity of protecting their investments linked to mortgage obligations has driven this growth. Similarly, the demand for CTPL insurance is essential due to regulatory requirements and heightened awareness of legal liabilities among vehicle owners.
An emerging concern addressed by VTB Bank's insurance products is coverage for tick-borne diseases, indicating a growing public health awareness and the bank's responsiveness to niche insurance needs that safeguard policyholders from specific biological risks.
Fraud insurance has also gained popularity, driven by an increase in fraudulent schemes and clients' growing awareness of financial risks. This product protects clients against losses from fraudulent activities. In the first six months of 2025, more than 20,000 fraud insurance policies were signed up for, nearly double last year's result.
VTB Bank is also promoting bundle insurance solutions, which combine multiple coverage types into a single product offering. These packages provide customers with convenience, comprehensive protection, and potentially cost savings. In the first half of the year, more than 35,000 bundle insurance policies were signed, showing significant growth. These bundle products typically include comprehensive property insurance, travel insurance, and other standard risks.
Mortgage insurance was the most in-demand, with 870,000 policies signed up for in the first half of 2025, marking a 30% increase compared to the same period last year. Complulsory motor third-party liability insurance (CTPL) came in second, with around 300,000 policies signed up for from January to July, doubling compared to last year. Tick-borne disease insurance was in third place, with more than 50,000 policies signed up for from January to July, more than double last year's figure.
VTB Bank predicts further growth in demand for insurance products related to fraud protection and comprehensive "bundle" solutions that offer expanded protection in a single policy. Clients at the bank can sign up for these policies through "VTB Online," with more than 1 million policies signed up for in the first six months of 2025. VTB Bank encourages clients to visit their official website at https://www.vtb.ru/vtbonline/ for detailed information about their online services.
VTB Bank (PJSC) can also provide information about their services at any of their branches. The growth in demand for bundle insurance policies is separate from the growth in demand for individual policies mentioned earlier.
The broader insurance market is also adapting to innovations like the digital ruble, which are expected to reduce operational costs and enhance customer engagement in insurance services, indirectly supporting VTB’s strategic initiatives in insurance. Thus, VTB Bank’s experience in the first half of 2025 demonstrates a proactive response to evolving client demands across various insurance products, reinforcing its position as a diversified financial services provider in Russia.
The growth in demand for mortgage insurance indicates that home financing remains a top priority for consumers, driven by the need to protect their investments linked to mortgage obligations. Additionally, the increasing popularity of fraud insurance reflects clients' growing awareness of financial risks and the need for protection against losses from fraudulent activities.
