We not only insure risks, but also destroy the enemy's plans - Andriy Artyukhov ➢ IC VUSO

In the second year of Ukraine's life under the shadow of martial law, business, especially in the insurance sector, has faced new challenges. Last year was also a period of gradual but steady recovery for the insurance market, which in some respects even exceeded expectations. At the same time, insurers played an important role in supporting the Armed Forces of Ukraine in their fight against Russia.

A notable example was the activity of VUSO Insurance Company, which not only strengthened its position in the market but also actively joined in helping the Ukrainian military. Andriy Artyukhov, Chairman of the Board of VUSO Insurance Company, shared the details of this important mission.

• What was 2023 like for VUSO?

Of course, 2023 brought no less challenges than 2022. However, having been hardened by previous experience, we already knew exactly how to act in a given situation. The main tasks were to ensure the highest quality of service even in critical conditions, development and regular assistance to the Armed Forces of Ukraine. I can state that we have coped with these tasks, but VUSO has enough ambition to set new goals.

• Have the specifics of customer requests changed this year?

Yes. There is a demand for insurance covering war risks, which is quite logical. Almost every day, dozens of enemy missiles fly into Ukraine, destroying civilian houses and other property. VUSO was one of the first insurance companies to respond promptly to this need of its customers: back in 2022, we launched the Patriot comprehensive insurance product and modernized it in 2023.

Of course, the war has also affected public health. We are more often approached by business representatives with requests for employee insurance. They ask us to include war risks in the VHI.

• How did you manage to ensure high quality of service?

A significant advantage in this was the full digitalization of processes that we implemented during the coronavirus. All communication with the client has moved to the virtual plane, which has significantly reduced the speed of completing all tasks.

If we talk about specific cases, such as blackouts or lack of mobile communication, we have well-established processes. We have operators working from abroad, which ensures the continuous operation of assistance in Ukraine. Our customers receive timely assistance in the shortest possible time.

• Can we say that VUSO has managed not only to stabilize but also to improve its performance?

Yes. Our interim results confirm this. We are actively increasing our performance both in terms of the amount of collections and the amount of payments. This applies to all the key products in the insurance market at the moment, namely VHI, comprehensive motor insurance, motor third party liability insurance and Green Card.

• Does the company manage to combine its core business with the help of the Armed Forces of Ukraine?

Yes, we not only insure risks but also destroy the enemy's plans.

The main duty of every Ukrainian is to bring victory closer. When it comes to business, it is not only about supporting the economy in these difficult times, although this is one of the key tasks. This responsibility is much greater. Today, we need to help the Armed Forces of Ukraine, which are defending our independence.

Since February 24, 2022, the company and its employees have provided assistance totaling more than UAH 32 million. We are actively involved in fundraising and support the military who worked for VUSO but were forced to join the Armed Forces of Ukraine due to the war.

• How does the company support the military?

Every month, we receive requests from the military that need to be fulfilled. Mostly, there is a need for drones and cars. During this time, we have purchased Mavic drones for various brigades and Heavenly Punishment drones with a control panel for the innovative unit of the Territorial Defense Forces of the Armed Forces of Ukraine, Eyes of a Hawk. A professional DJI Matrice 30T quadcopter and additional batteries worth UAH 700 thousand were delivered to the Carlson volunteer aerial reconnaissance unit. We also provided one of the sapper units with 100 probes for demining the liberated territories.

Most often, we help with vehicles. Our employees are actively involved in the internal volunteer movement and have already set up a mechanism for finding the necessary vehicles through partners, servicing and preparing them, and then handing them over to the military. Sometimes volunteers apply. We close all requests.

In total, the company has purchased more than 50 vehicles for the frontline for various needs and units.

We also constantly support various charitable initiatives, in particular, we have become partners of the "Run for those in combat boots" race.

Reference. VUSO Insurance Company is a company with Ukrainian capital, which was established in 2001. During the period of its activity, the insurer has established itself as a reliable player in the insurance market, as evidenced by the current financial strength rating uaAA, assigned by the rating agency Standard Rating. VUSO specializes in motor, health, and travel insurance for both corporate clients and individuals.

VUSO fully complies with the requirements of the current legislation. As of today, the company has 50 licenses: 17 for voluntary and 33 for compulsory insurance. For the convenience of customers, there are 34 representative offices, 2 branches and more than 20 agency sales centers in all regions of our country. VUSO is a full member of the Motor Transport Insurance Bureau of Ukraine (MTIBU), the Kyiv Chamber of Commerce and Industry, the National Association of Insurers of Ukraine and the Nuclear Insurance Pool of Ukraine. In July 2023, the National Bank confirmed the transparency of the structure of Private Joint Stock Company “VUSO Insurance Company”.

VUSO is a modern insurer with efficient and high-quality product solutions. For many years, the company has been a leader in the field of online insurance, in particular, VUSO was the first to introduce an electronic policy sales system that allows you to take out insurance without leaving your home. One of VUSO's strengths is the fast and high-quality formation of IT solutions due to the availability of in-house development, which is carried out by highly qualified specialists of the company.