VSK launches mortgage insurance

Russian insurer VSK has launched a digital portal for mortgage policies; available via its website or mobile app.

For mortgage borrowers of Russian bank Sberbank, it’s enough to enter data on the loan and the insured, for the system to calculate the premium. If a mortgage loan is taken from another bank, it’s enough to fill in the data and select the necessary risks. VSK specialists will calculate the cost of the policy and help in issuing it at a convenient time for the client.

“Mortgage is one of the most popular financial products used by a large number of citizens of our country. The interest in this product is growing every year. So, last year the growth rate of mortgage lending was 22%. At the same time, the average term of a mortgage loan is also growing. For mortgage loans issued in 2021, it is just over 19 years, and three years ago it was equal to 16 years. This is due to the desire of citizens to reduce the size of the monthly payment. According to the requirements of the law, each mortgage object must be insured throughout the entire term of the loan. We strive to ensure that the process of concluding an insurance contract and communicating with an insurance company throughout the entire term of the mortgage is as comfortable and convenient as possible. By introducing modern technologies into our services, we release the consumer from the need to come to the office for a policy. Our clients can use our company’s online service at any convenient time to issue or extend a mortgage insurance contract. For all questions arising from self-registration or during the validity period of the insurance contract, consultations are available in the round-the-clock contact center. We value the time of our clients and their trust in our company.” – Olga Sorokina, Deputy General Director for Business Development