Kooperativa, the largest Vienna Insurance Group insurer active on the Slovakian market, operates in both the life and non-life segments.
Products are distributed in the market by a strong, employed field sales force of around 640 employees serving the needs of their customers.
Kooperativa, jointly with Komunálna, is planning to reorganise its non-life claims processing into three to four new regional centres over the course of 2009. By combining their know-how and making use of synergies, claims processing by these companies will become more customer-friendly and economical.
Kooperativa was selected as the “Insurance Company of 2008”. This is already the sixth time that the company has won this award for the most successful insurance company of the year.
Komunálna mainly distributes motor vehicle liability insurance products through its own offices, specialising in covering the insurance needs of local authorities and companies. Products are also distributed through cooperative arrangements with leasing companies and agents. Numerous cooperative arrangements with automobile dealers and workshops provide customers with additional benefits in the form of favourable terms and faster processing in the event of a loss.
Komunálna is one of the Top 5 insurance companies in the non-life segment. The company even holds an outstanding 3rd place in the motor vehicle insurance market.
Komunálna earned points in 2008 for a new homeowner and household insurance product. This complex property insurance policy, which includes household and liability insurance, has been on the market under the name “ProDomo” since the summer of 2008. 500 policies have already been sold since the product was introduced.
Kontinuita has operated successfully on the Slovakian life insurance market for more than 10 years. The company focuses primarily on the sale of unit-linked old-age provision products, a segment where Kontinuita is benefitting chiefly from the ever- increasing awareness in Slovakia of the importance of making personal provisions for one’s old age. Life insurance products are sold through brokers, multi-level marketing organisations and a employed field sales force.
The unit-linked life insurance product “Kapitál” is particularly successful with Slovakian customers. This product combines the benefits of life insurance with the opportunity to make an effective long-term investment. Customers are also given the option of choosing the intervals between premium payments. “Symsite Research” has named “Kapitál” the best unit-linked life insurance product four times now.
Since 2008, PSLSP too has been a part of the Vienna Insurance Group family. PSLSP commenced its insurance operations at the beginning of 2003 and is now the eighth largest life insurance company in Slovakia. PSLSP’s main channel of distribution is Slovakia’s largest commercial bank, Slovenská sporiteľňa, which has around 2.5 million customers and more than 270 branches.
PSLSP operates successfully in the life insurance business and offers its customers a full range of products. In addition to single-premium life insurance policies, the sale of products with regular premium payments is now being promoted. In June 2008, PSLSP successfully launched its “Index-Fix 150” product. Along with insurance protection covering death and the long-term effects of an accident, this life insurance policy offers a 50% return on funds paid in at the end of the policy term, generating strong demand among Slovakian customers.
