OREANDA-NEWS. March 20, 2012. XIII Volga Insurance Rendezvous “Strezhen” took place in Kazan on March 14, in the course whereof the awarding ceremony was held for the winners of the National Insurance Award “Serebrany Zont”. The Nizhny Novgorod branch of Ingosstrakh Insurance Company was recognized as “The Best Branch of Insurance Company 2011”.

The annual “Serebrany Zont” Award marks out leading insurance companies, the achievements of which favour the economic and social development of the region. The competition was initiated by the All-Russian Insurance Association in the Volga Federal District and “Strezhen” trade magazine. The Expert Council which decides the winners in different nominations consists of insurance market professionals, experts of regulatory authorities, economic universities teachers, and trade press representatives.

This win is far from being the first for the Nizhny Novgorod branch of Ingosstrakh Insurance Company. The branch already won the “Serebrany Zont” Award in 2009 and this time proved its status of a successful development-oriented branch of the company.

For three years of its effective work (2009-2011) the insurance portfolio increase of the branch has amounted to 15% and in respect of some types of insurance has considerably exceeded 100%, specifically in cargo insurance (175%) and agricultural insurance (515%).

“The Nizhny Novgorod branch of Ingosstrakh Insurance Company intends to keep working on the creation of an effective insurance system and improvement of the profitability and quality of the insurance services in the future”, - says Denis Morozov, Director of the Nizhny Novgorod branch of Ingosstrakh Insurance Company. “The ability of cost control will be the crucial competitive advantage of the branch in the individuals’ insurance sector in the foreseeable future. To this extent the optimization of business processes and the improvement of insurance activity informational support should be the key goal of the branch.”