The recently published statistics of the Czech Insurers’ Bureau have clearly confirmed the growing popularity of motor third-party liability insurance products with a price based on mileage.
Mileage-based insurance won
The two insurance companies that bet on calculating the price of MTPL insurance (but also motor own damage insurance) according to the number of kilometres driven per year, took place on the podium. They ranked first and third in the increase in the number of insured vehicles with MTPL. Together, they increased their insurance portfolio by 100,436 vehicles. Pillow Insurance Company grew the fastest in relative terms, with a 36% year-on-year increase, and has defended this top spot for 4 years in a row.
“The result is not surprising,” explains Marcel Beno, co-founder and actuary at Pillow Insurance Company. “Mileage-based insurance offers the lowest price for about a third of cars and motorcycles on the Czech market. According to our estimates, this is almost more than two million vehicles, so hundreds of thousands of car owners are still unnecessarily paying more for MTPL insurance than they have to.”
| Number of MTPL insured vehicles | Pay-per-mile pricing | 31.12.2023 | 31.12.2022 | Difference | Increase % |
| Allianz | ✅ | 1 144 906 | 1 090 280 | 54 626 | 5,0 % |
| Slavia | – | 253 616 | 200 388 | 53 228 | 26,6 % |
| Pillow | ✅ | 172 027 | 126 217 | 45 810 | 36,3 % |
| Direct | – | 500 819 | 472 255 | 28 564 | 6,0 % |
| Kooperativa | – | 1 651 988 | 1 623 889 | 28 099 | 1,7 % |
| Uniqa | – | 1 020 615 | 994 878 | 25 737 | 2,6 % |
| ČSOB | – | 777 497 | 758 764 | 18 733 | 2,5 % |
| Hasičská vzájemná | – | 85 996 | 71 572 | 14 424 | 20,2 % |
| Pojišťovna VZP | – | 66 432 | 60 015 | 6 417 | 10,7 % |
| LeasePlan Insurance | – | 167 | 193 | -26 | -13,5 % |
| Generali Česká | – | 2 194 646 | 2 197 764 | -3 118 | -0,1 % |
| Česká podnikatelská | – | 1 426 508 | 1 456 359 | -29 851 | -2,0 % |
| Total | 9 295 217 | 9 052 574 | 242 643 | 2,7 % |
Czech vs. foreign insurance companies
An unconventional view of the results offers a split between insurance companies owned by Czech and foreign owners. The “Czech” insurance companies include the VZP insurance company, which is practically controlled by the Czech state through the Health Insurance Company (VZP). “If we add up the increase in insured vehicles at 5 Czech insurance companies, we get a figure of 148,443 vehicles compared to an increase of 94,200 vehicles at 7 foreign insurance companies,” comments Martin Podávka, co-founder of Pillow. “It shows that Czech insurance companies can be as innovative or even more innovative than world-famous brands. And the proof is not only the growth of their popularity among Czech clients, but also their expansion into other countries. For example, since the end of last year Pillow has been offering its services to clients in Slovakia“, concludes Martin Podávka.