POLAND: PZU made public its new development strategy until 2014, PZU 2.0

Customer centricity, efficiency, innovativity are the main coordinates of the PZU's development new strategy for 2012-2014, called PZU 2.0. According to a recent press release of the Polish group, PZU 2.0. means a new vision for the insurer, which, thanks to strong customer orientation and high operational efficiency has become the largest and most profitable insurance company in Central and Eastern Europe. By implementing the strategy, PZU targets a PLN 2 billion organic growth in GWP by the end 2014.

So far, PZU has focused, in its strategy, on the strongly cooperating companies and business lines based on the products. The new business philosophy stresses the unity of the PZU Group as an organization, functioning according to customer segments and actively manage the relationship with them. Operational sign of this change is to implement multi-channel model of integrated sales and service, striving for full automation. "In recent years, the PZU Group's done a great job. We leave behind the archaic procedures, paper flow of documents. New PZU is the vision of a strong consumer oriented brand, using modern technologies in the service of the customer", said Andrzej Klesyk, CEO of PZU SA.

The confirmation of the strategy of PZU 2.0 are the four pillars, based on fundamental customer segmentation. In the category of mass customer PZU goal is to maintain position and profitability in the insurance segment and property, and the use of in-depth knowledge of customer behavior.

The PZU Group will build its image and position in the savings and investment, creating a strong and recognizable submark? PZU Investment reflects the powers and position of an expert in asset management. The expanded product range will also be in the field of investment, with particular emphasis on long term savings schemes.

The customer segment of the PZU Group intends to maintain its market share in the group life insurance while maintaining high profitability. A key tool for achieving this would offer the Club PZU Life Help, which provides a unique competitive advantage of PZU and allows you to develop personal relationships with customers.

PZU Group's ambition is to become the pioneer and creator of the health insurance market. In the next few years, the PZU Group plans to build a strong leadership position in the market, so as to make PZU was also associated with the health care market. PZU will improve ambulatory products and introduce new insurance products anxiety.

In the corporate client's ambition is to build a position PZU business partner, providing not only insurance products, but also advise customers in the management of risk, particularly to define their insurance needs.

One factor that will support the implementation of business strategy is to be new service model that provides easy access to the Client and increased satisfaction while optimizing costs.

The PZU Group has the potential to allocate PLN 6-7 billion to build a substantial international business by working with a financial investor and the appointment of the company PZU International. Its task is to lead to the PZU Group's acquisition activities and managing foreign operations of the PZU Group in order to increase their value.

Implementing the Strategy for the years 2012-2014 will contribute to achieving ambitious financial goals. PZU plans to increase gross written premium of PZU Group 2 billion PLN (counted from the end of 2011 to the end of 2014, without taking into account the effects of PZU International and increasing premiums of health insurance if they allowed private operators to manage public health premiums). Also plans to keep 30% of ROE (ROE calculated for 250% capital requirement by. Solvency I).

Related articles

Michael KRUPINSKI, head of PZU, awarded "Insurance Manager of the Year 2016" in Poland

Michael KRUPINSKI, head of the Polish insurance leading group, PZU, has been awarded "Insurance Manager of the year 2016" by the national financial journal "Gazeta Bankowa", while the company won the "Most friendly insurance company" award in the category of motor insurance. The awards have been granted in recognition of PZU's impressing financial evolution last year, as well as of its customer centric culture.

2017-01-12

STATISTICS: Poland 3Q2016: Motor insurance still unprofitable despite the increasing premiums

The descendant trend established during the previous quarters in the Polish insurance market continued in Q3, with GWP falling by another 2%, to EUR 9.44 billion. While the absolute driver of the falling trend was again the life insurance segment, it is worth noting also that given the slightly weaker domestic currency has also a saying in the matter. Denominated in Polish Zloty, the GWP figure only shows a stagnant trend.

2016-12-22

ON THE MOVE

Zurich: leadership transition in EMEA business

Currently group CEO of AXA UK and Ireland, Amanda BLANC will also join the executive committee at ZURICH, with the handover scheduled to complete in the fourth quarter of 2018. BLANC is to succeed Gary SHAUGHNESSY as CEO of ZURICH Insurance's EMEA business.

12.04.2018

TOP EVENT

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

19.04.2018

photodune-3834701-laughing-girl-xs

LIVE: Moscow, Russia: The XXII International Reinsurance Conference

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

11.04.2018

photodune-3834701-laughing-girl-xs

The 4th edition of the European Consumer Protection Conference: Main conclusions

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

22.03.2018

See all