CO posted five-months increasing net profit after the positive impact of the first Croatian 100% digital insurance product

6 July 2021 — Andrei Victor
Croatia osiguranje, the largest Croatian insurer and one of the largest insurance group in Adriatic region, posted consolidated net profit for the first five months of 2021 of HRK 208 million (~ EUR 28 million), which is an increase of one percent compared to the same period previous year.

"Positive trends in 2021 are a continuation of the successful 2020 in which a consolidated net profit of HRK 328 million (~EUR 44 million) was achieved and in which several successful projects have been launched such as the launch of a completely new product, Laqo osiguranje - the first Croatian 100% digital insurance", Management Board of CROATIA osiguranje informed in a statement published on the ZSE (Zagreb Stock Exchange) website about business trends in the past year and the first five months of 2021.

In the first three months of sales (October - December 2020), Laqo osiguranje realized a premium of HRK 3.8 million (approx. EUR 0.5 million), while the premium in the first five months of 2021 amounted to almost HRK 10 million (~EUR 1.3 million). "Also, as part of the Laqo insurance offer, there is a LaqoPrevent program which promotes safe driving and responsible behavior in traffic using an advanced technological telematics solution".

According to CO representatives, the key competitive advantages of Laqo Insurance are: "using the power of the CO brand, managing prices using advanced analytics, and providing the best user experience - only 20 clicks, while for similar brands in Europe it averages up to twice as many clicks. In confirmation of this, Laqo won the CX award in the categories of best customer experience and best call center".

LaqoPrevent is the first telematics program in Croatia, an unique prevention program that use advanced technologies to promote and reward safe driving developed by Croatia Osiguranje in cooperation with Amodo, the well-known Croatian digital solutions provider.

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