What is the SINCO file?
The so-called “SINCO” is the Automobile Insurance History File. Let’s see how useful it is, who manages it and how insurance companies use it.
What is SINCO used for? Usefulness of the file
Thanks to the appearance of this file, insurance companies began to share data on their clients’ claims experience. Specifically, it provides information on how many at-fault claims (due to blows to opponents) an insured has given to his company in the last 5 years.
The consultation is based on informing the DNI, insured license plate number and policy number in the previous company. Automatically and transparently, the insurance company that is quoting this “new” insurance has key information to give a better or worse price, based on this good or bad accident rate.
This was a breakthrough for the insurance companies that participate in the file (90% of them). It is an unbiased way of sharing key data, through an agile and secure system.
Who manages the SINCO File?
UNESPAThe Patronal de las Entidades Aseguradoras is the owner of the file that collects this information. However, it is TIREA (Tecnologías de la Información y Redes para las Entidades Aseguradoras) which manages the use of the file and processes the data provided by the car insurance companies.
How is SINCO regulated?
The regulation governing this file is article 25.4 of Royal Legislative Decree 6/2004, which approved the revised text of the Law on the Regulation and Supervision of Private Insurance. It states the following:
The Insurance Companies may establish common files containing personal data for the settlement of claims and actuarial statistical collaboration in order to allow the pricing and selection of risks and the preparation of insurance technology studies.
Insurers not in SINCO
There are companies, such as Mutua Madrileña, that are not part of this file. The reasons, in our opinion, are clear:
- They offer the bonus based solely on criteria of driver age and type of vehicle driven.
- It is a “protectionist” tactic: when you join Mutua Madrileña, by not sharing SINCO data, you lose the historical bonus. Then, when you want to change company for X reasons (price increase, bad attention in a claim…) it is very complicated because you do not have a discount for good claims. You will have to request a claims certificate, but even then the same discount does not apply as with companies that are in the SINCO file.
A piece of advice: if you are going to change to any of these companies, you should keep a copy of your policy and the last receipt. Why? In case you ever want to change companies again, you should be able to prove that you previously had a bonus.
If you want us to advise you on the best car insurance or also car insurance for novice drivers, do not hesitate, and enjoy a real professional comparator, with advice and after-sales service in the event of a claim.
