Looking for protection: Russians search for information on insurance more often
Sberbank insurance, a Sberbank subsidiary, has analyzed search queries of Russian internet users to find out how their interest in insurance has been changing in 2020. It found out that users started to think about protecting their countryside houses, their protection during vacations, business and property insurance more actively; the number of search queries related to each issue increased several times, compared to the beginning of the year. About 3 mln Russians look for “insurance” and 1.5 mln more look for “policy” online every month.
Russians became more interested in different types of insurance at the end of the lockdown. For example, the number of search queries for “business insurance” doubled, compared to January. Due to the pandemic, many entrepreneurs faced difficulties, and they tried to reduce risks using insurance.
The coronavirus urged many Russians to move to the countryside and increased their interest in property protection. The number of search queries for “countryside house/dacha insurance” quadrupled in May, as compared to January. In the summer, the interest in this type of insurance slightly dropped, but is still quite high as some Russians are very likely to protect their houses before the season. In June, it grew by 83% compared to the beginning of the year and added 55% in July-August. The search queries for “property insurance” without specifying the type actively grew in the spring as their number doubled in April-May, compared to January.
In August, when the tourist season managed to recover as Russian resorts were full of people and even some countries reopened their borders, the interest in the traveler’s insurance increased by 3.5 times, compared to the lockdown period, as it was expected. Interestingly, insurance against coronavirus was less popular than policies for travelers. The number of search queries only doubled in August compared to March.
Russians actively looked for “pet insurance” online in 2020. It grew by 43.5% in August, compared to early this year. They were also interested in “mobile phone insurance” with a 25% increase in July-August, compared to January, and “bank card insurance” queries up 36.5%, compared to January.
Katrin Soomre, Director of Protective Insurance Products and Services Division, Sberbank:
“The coronavirus pandemic has urged many Russians to think about additional protection of everything that is valuable for them, such as their health, property, business, and pets. An insurance policy can give them this protection and become an emergency fund. It is better to take care of yourself earlier and apply for it without waiting for any crisis or epidemic. And, taking into account the growth in search queries, Russians have learnt about insurance enough.”