JSC SC Renaissance Health

History

2021

Revocation of licenses by the Bank of Russia

In connection with the refusal of Renaissance Health to carry out the activities provided for by the licenses, Order of the Bank of Russia No. 04.06.2021 of OD-1041, JSC Renaissance Health revoked the licenses for insurance against 25.10.2018 SZh No. 3991 (voluntary life insurance) and 25.10.2018 SL No. 3991 (voluntary personal insurance, with the exception of voluntary life insurance).

Transfer of insurance portfolio to IC Renaissance Life

According to the information published on the Renaissance Health website, 29.03.2021 year the company completed the transfer to the Renaissance Life insurance portfolio for life insurance in case of death, survival to a certain age or term or the occurrence of another event/pension insurance/life insurance with the condition of periodic insurance payments (annuities) and (or) with the participation of the insurer in the investment income of the insurer.

At the same time, the transfer to Renaissance Insurance Group and Renaissance Life insurance portfolio for accident and disease insurance and health insurance was completed.

2019: Building a company

At the end of May 2019, it became known about the creation of the Renaissance Health insurance company, which will operate only via the Internet. It was established by the owner of Renaissance Insurance Boris Jordan, who is going to invest about 3.6 billion rubles in the project until 2023.

Renaissance Health will operate in the voluntary health insurance (VHI), accident insurance and international health insurance market entirely in digital format.

The owner of Renaissance Insurance Boris Jordan created an insurance company that works only via the Internet, and invests 3.6 billion rubles in it

Renaissance Health is positioned as the first inshurtech company in Russia. A mobile application of the same name was developed for it, with the help of which a client with a VHI policy will be able to find the clinic he needs, make an appointment with a doctor or call him at home, and receive telemedicine advice.

According to the director of the medical company BestDoctor Mark Sanevich, 3.6 billion rubles is a fairly large amount for the Russian insurance market.

The plan for revenue growth is quite ambitious [up to 18 billion rubles by 2023 - approx. Zdrav]. Given the realities of the Russian insurance business, I would rather focus on doubling revenue over this period, not tripling, "he said in a conversation with RBC.[1]

According to analysts at Infoholic Research, the global inshurtech market will grow from $533 million in 2018 to $1.12 billion by 2023. Deloitte counted $12.5 billion in investments that were attracted by participants in this market in 20 years by the end of 2018.

Renaissance Health intends to start providing telemedicine services in 2019. Vedomosti notes that competitors also launch online services: clients of Alfastrakhovanie and Ingosstrakh can make an appointment with a doctor through the applications of companies, RESO-Garantia also plans to release its application.

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