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Comparison of electronic and paper CTP insurance policy
Internet technologies are actively replacing paperwork. Plane or train tickets, cinema tickets, and identity documents can be conveniently stored and presented on a mobile device. The digital format eliminates damage and loss of forms. In 2018, Ukraine introduced electronic motor third party liability insurance policies. Paper forms have not lost their relevance either.
Features of a paper CTP policy
In 2019, Ukraine approved new samples of compulsory motor third party liability insurance policy forms. The previous formats have not been used since 01.03.2020. A paper form is an insurance contract that is filled out by hand or in print. It consists of two A4 sheets. The top one is green, and in the updated version it has a white border around the perimeter. The green sheet, the original, is given to the policyholder. The copy, a self-adhesive backing, remains with the insurance company (IC).
The information part of the form includes mandatory fields:
- insurer's details;
- validity period of the motor third party liability insurance policy, sum insured, deductible amount;
- information about the driver;
- information about the vehicle: make, year of manufacture, VIN number, city of registration;
- information for calculating the insurance premium;
- marks where the QR code is printed to verify the authenticity of the document;
- date of drawing up the contract;
- signatures of the parties, a place for a wet seal.
When filling out the form manually, you must be careful. Corrections and cross-outs are not allowed.
Paper policies are offered by insurance agents. The employee's task is to persuade the driver to give preference to the insurance company they represent in order to receive their commission. To achieve this, agents use various psychological techniques, often imposing unnecessary services. Many drivers are uncomfortable with the pressure and make decisions under pressure. It is impossible to verify the authenticity of a paper policy, find out information about the insurer's activities and the amount of payments in a few minutes.
The introduction of electronic policies was a result of the fight against counterfeiting and the simplification of the procedure for purchasing a compulsory insurance policy. The introduction of the digital version does not preclude the possibility of concluding motor third party liability insurance contracts in paper form. The right to choose remains with the insured.
How does an electronic policy differ from a paper policy?
The first active buyers of online MTPL insurance were residents of the capital, citizens of large industrial cities. The time factor is a priority for drivers in megacities. They cannot spare a day or several to visit offices and analyse the performance of insurance companies.
You can buy an electronic policy in minutes on the website of the chosen company. The time gain is backed up by financial benefits. An electronic MTPL policy is a PDF file.
The digital format protects drivers from various accidents on the road. Such a document cannot be lost, spilled with coffee, or crumpled. Even accidental deletion of a file is a fixable problem. The insurance company will send a duplicate. E-CTP is always available in your mobile device and in the MTIBU database.
Special paper and ink, microtext, and anti-scanner mesh are used to protect printed CTP forms from counterfeiting. Today, these measures are ineffective. Secure printing products are commercially available. They are also used by criminals. Not all car owners are aware of security measures or know how to check them.
The electronic CTP has a QR code. No additional devices are required to read it. Code scanning apps can be downloaded to your smartphone for free, so the degree of protection is higher with E-CTP. The paper form also has a QR code, but the data of such a form gets to the MTIBU after some time, while the electronic form is sent instantly.
You can buy CTP online on the official websites of insurance companies. When choosing a service provider, it is worth considering the presence of the insurance company in the MTIBU member lists, the insurer's rating, customer reviews, the speed of the procedure, and the amount of payments made. This information is available on official resources.
The purchase process consists of filling out an electronic form, paying for the policy with a payment card or other means on the website, and receiving the document to the specified email address.
Does an electronic MTPL policy have the same legal force as a paper policy?
By the middle of last year, MTIBU member insurance companies had drawn up more than five hundred thousand electronic motor third party liability insurance contracts. But every second driver, according to surveys, doubts the legitimacy of electronic MTPL. The law affirms the equal legal force of digital and paper versions. Both documents provide financial protection if the driver of the insured car is involved in an accident or causes damage to the property and health of another citizen.
According to the resolution, the right of drivers to confirm the presence of a motor third party liability insurance policy using an electronic gadget is enshrined in the traffic rules. The car owner can print out the E-CMTPL on their own or present it to representatives of the National Police on the screen of a smartphone, phone or tablet. You can print the policy on a regular black and white printer, the colour does not affect the reality. You do not need to carry a paper version with you.
How to check the validity of an electronic CTP policy?
E-CMTPL is certified by the electronic signature of the insurance company selling the product. This is enough to confirm the authenticity of the document. No additional seals or assurances are required.
The document becomes legitimate as soon as it enters the MTIBU's unified database. This happens automatically at the time of purchase.
Options for checking the policy for authenticity:
- in the MTIBU database by car registration number. The characters of the registration plate are entered without spaces and dashes. In response, the system displays the series, CTPCI number, status as of a specific date (valid or not), and information about the insurance company's affiliation with MTIBU;
- by form number.
Sometimes the system provides several answers to one request. This means that it contains vehicles with the same registration number, but from different categories, for example, trucks and cars.
Representatives of the National Police use a similar algorithm to verify the legitimacy of insurance. When issuing a paper policy, the insurance company issued a sticker to the car owner to be placed on the windscreen of the car. With the introduction of digital CTPCI, the sticker has been cancelled. Its absence is not a ground for a fine. If a police officer imposes an administrative penalty, the driver has the right to appeal the decision in court.
An electronic CMTPL policy is a progressive version of liability insurance that saves time and money, and saves drivers from bureaucratic procedures.
