Kooperativa is the largest Vienna Insurance Group company outside of Austria, and operates successfully as a composite insurer in both the life and non-life segments. Kooperativa is number 1 in the Czech industrial and corporate insurance market.
Plans have been made to expand further in the Czech insurance market by entering into the private health insurance business. Already in mid-2008, motor vehicle liability insurance with a free hospital stay was offered. More than 25,000 customers took advantage of this offer, and this strong popularity reflects the need individuals feel to make provisions of their own in this area.
In addition to insurance products being sold over the internet, autumn 2008 saw the start of sales by telephone as well. Around 1,500 new policies were sold in this way over a very short period of time (motor vehicle liability, motor vehicle own damage, personal property and liability insurance). Numerous awards have been received, reflecting the success of the company and its products.
ČPP is a composite insurer that has operated in the Czech insurance market for more than 10 years. The company has been one of the best on the market for some time, particularly in the segment of motor vehicle liability insurance, where the company’s coverage of 830,000 vehicles once again placed it third in the market in 2008. At the beginning of 2008, ČPP introduced a unique bonus system to the motor vehicle insurance market, under the name “extrabonus Profi”. This system guarantees a 15% reduction in premiums right from the start for motor vehicle liability and own-damage policyholders with a claims-free driving record.
Demand for insurance products also increased in the life insurance segment, resulting in three new life insurance products being brought to market in the last year: “Garant V.I.P.” endowment insurance, “Evropská penze plus” investment life insurance, and “Maximum”, another life insurance policy with an investment component that enjoyed great sales success, achieving 3,500 policy sales in three months. ČPP’s rapid growth is also reflected in the number of policies held, which passed the one-million mark for the first time in 2008. ČPP currently has 1.2 million insurance policies under management.
PČS has been operating in the Czech insurance market since 1992 and became a member of the Vienna Insurance Group in September 2008. The company holds an excellent seventh place on the Czech insurance market. As its distribution channels, PČS makes use of the more than 600 branches of Česká Spořitelna, the largest bank in the Czech Republic, with more than five million customers, and approximately 250 other external partners.
PČS focuses on the life insurance business. Its product “Flexi Invest 2008” was named “Best Life Insurance Policy of 2008”. “Flexi Invest” life insurance is a modern, transparent and broadly risk-hedged investment product that combines the advantages of life insurance and a savings product. The flexibility of this product is achieved by allowing policyholders the option of putting together their own portfolios or selecting one of three investment strategies offered. By giving customers the ability to freely modify the funds they have invested at any time, the product can be tailored not only to customer needs but to current market developments as well.
