Halyk Insurance Company JSC

What Halyk Insurance Company JSC does

Halyk Insurance Company JSC is a Kazakhstan-based general insurance company operating under License No. 2.1.21 (issued January 13, 2023) and headquartered in Almaty. The company offers a diversified retail insurance portfolio across auto (Halyk CASCO, CASCO Light, and mandatory ОГПО third-party liability), property, travel medical, health, accident, and job loss insurance, with both mandatory and voluntary products. Its primary customer segments are individual vehicle owners, property owners, international travelers, employed individuals, and sports participants, with a separate business channel for commercial clients.

The company is built on a cloud-based insurance platform paired with iOS and Android mobile applications and direct integration to Kazakhstan's ESBD (Electronic State Base of Documents) for policy verification. The platform enables self-service policy purchase, activation, extension, payment, and claims submission, with property insurance issued in 3 minutes without inspection and policy extension in 2 minutes. Underlying technology is described as proprietary around ease-of-use and interoperability rather than AI or analytics.

The business model is subscription-based annual or short-term insurance with pricing per product (e.g., 15,000 KZT/year for job loss, 1,000 KZT/day for competition participant insurance, and accident coverage up to KZT 3,000,000). Distribution is multi-channel: direct-to-consumer online and mobile (self-serve), Halyk Bank branch and digital cross-sell (the core channel), licensed insurance agents, and a referral partner program. The Halyk Bank partnership is the structural backbone of the business, providing brand association, customer access, and payment infrastructure across Kazakhstan, with revenue and pricing being publicly disclosed at the product level.

Name

Halyk Insurance Company JSC

Legal name

Halyk Insurance Company JSC

Website

https://www.halyksk.kz

Company type

Private

Operating status

Operating

Short description

Halyk Insurance Company JSC is a Kazakhstan-based general insurer offering online retail auto, property, travel, health, accident, and job loss insurance, distributed via Halyk Bank's branch network, mobile apps, and online self-service channels to individual consumers and businesses.

Ownership category

akta.pro rank

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Property Insurance: Annual property insurance policies with no inspection required for quick enrollment
2. Car Insurance (CASCO and OGPO): Vehicle insurance including comprehensive CASCO and mandatory third-party liability (OGPO) coverage
3. Travel Insurance: Medical travel insurance including single-trip and multi-trip plans, often required for visa applications
4. Health and Accident Insurance: Personal accident coverage and health insurance for individuals and competition participants
5. Job Loss Insurance: Income protection insurance providing payout if employer terminates employment agreement. Policy costs 15,000 KZT/year with payouts up to 250,000 KZT if dismissed and additional 250,000 KZT if unemployed for 2+ months

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Halyk Insurance Company JSC is a Kazakhstan-based general insurance company offering a diversified portfolio of insurance products including car insurance (CASCO, CASCO Light, OGPO), property insurance, travel medical insurance, health and accident insurance, and job loss insurance. The company sells policies directly to individual consumers through its website, mobile applications, and through Halyk Bank branches and agents, with online enrollment available in minutes for most products.

Product overview

Halyk Insurance Company JSC offers a diversified portfolio of insurance products across multiple categories including auto (Halyk CASCO, CASCO Light, ОГПО, temporary entry insurance), property, travel medical insurance, health insurance, accident insurance, and job loss insurance. The product portfolio includes both mandatory (ОГПО compulsory motor liability) and voluntary insurance products. The company provides online purchasing capabilities for most products with quick processing times (property insurance in 3 minutes, accident insurance in 2 minutes). The product line also includes specialized offerings like marathon competition insurance and installment payment options for car insurance. Services include policy activation, extension, payment, and claims submission.

Differentiator

Problem solved

Functional benefit

Brands

• Halyk CASCO: Car insurance product
• CASCO Light
• OGPO
• Marathon Defense

Products and services

• Halyk CASCO
• CASCO Light
• Compulsory Motor Third Party Liability Insurance (OGPO)
• Temporary Entry to RK Insurance
• Property Insurance
• Travel Medical Insurance (MST)
• Health Insurance
• Voluntary Health Insurance (DMS)
• Accident Insurance
• Insurance for Competition Participants (Marathon Defense)
• Job Loss Insurance

Quantifiable outcome

• Property insurance enrollment in 3 minutes without inspection
• +1 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Halyk BankcoreChannel Partner/ Reseller/ DistributorHalyk Bank serves as the primary distribution partner for Halyk Insurance, leveraging its extensive branch network across Kazakhstan to sell insurance products. The bank also provides the banking infrastructure for policy payments and maintains cross-branding on the insurance website. The two entities share the Halyk brand identity.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Kaspi Insurance (Kaspi.kz group): Kaspi.kz operates Kazakhstan's largest super-app with embedded insurance distribution alongside consumer lending and payments. Directly comparable as a digital-first, bank-anchored insurance carrier competing for the same Kazakhstani consumer wallet.
• Standard Insurance Company: Kazakhstani general insurance carrier providing personal and commercial lines. Direct competitor in Kazakhstan's P&C market with overlapping product offerings.
• Forte Insurance (ForteBank group): Bancassurance arm of ForteBank offering multi-line general insurance. Closely comparable as another bank-anchored Kazakhstani insurer leveraging its parent bank's customer base for distribution.
• BTA Insurance (BTA Bank group): Insurance subsidiary tied to BTA Bank offering general insurance products in Kazakhstan. Comparable bank-anchored insurer leveraging banking distribution channels.
• IC Frankfurt Insurance: Kazakhstan-based general insurance company offering auto, property, and personal lines. Direct domestic peer competing in the same product categories and customer segments.
• Nomad Insurance: Kazakhstani general insurer providing auto, property, and travel insurance to individuals. Direct competitor in the same domestic retail insurance market with similar product mix.
• Eurasia Insurance Company: One of Kazakhstan's largest traditional general insurers offering auto, property, and personal lines. Comparable as a multi-line P&C carrier in the same domestic market with overlapping customer segments.
• Kommesk-Omir Insurance: Established Kazakhstan insurer offering general insurance products including auto and property. Direct domestic peer competing for the same consumer segments in Kazakhstan.

Emerging players

• Lemonade: Digital-first insurer known for mobile app-based policy purchase, instant claims, and AI-driven underwriting. Comparable as a benchmark for digital UX in insurance, although operating in different geographies.

Regional players

• Tinkoff Insurance (T-Bank ecosystem): Digital insurance products distributed through Tinkoff's online banking super-app in Russia. Comparable as a digital-first, bank-anchored insurance distribution model, though operating in a different (no longer easily reachable) post-2022 market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Halyk Insurance Company JSC