VIG companies in Austria

With a market share of more than 14% and 1.3 million customers, Wiener Städtische is the largest insurance company in Austria. The company does business in property and casualty insurance, life insurance and health insurance, offering customised solutions for the circumstances of private life as well as for the commercial area and corporate customers. Nine provincial head offices, approximately 140 branch offices and more than 3,500 employees, including 2,000 advisors, allow for personal service throughout Austria. In addition, Wiener Städtische is represented in Italy and Slovenia by branch offices.

In 2010 Wiener Städtische brought to market numerous innovations in the product and service area. As part of the Limited Edition series, new index-linked old-age provision products, such as the “Limited Edition Garant 2010”, were offered. There are also new offerings in the household and homeowner’s insurance area. The version of the product for those of modest means offers comprehensive insurance coverage at a low cost. Also new is the inclusion of coverage for extended natural hazards such as floods, for example. With TOP MED Option, Wiener Städtische offers an affordable product especially for young people for their initial entry into private health care, with insurance coverage for accidents and serious illness.

To further improve its services, Wiener Städtische relies on the increased use of new technologies in the service area. With the new Claim Services App, claims can be reported directly by mobile phone. Through the Claims SMS Service, customers are given updates regarding the processing of their claim. The re-designed company website offers a variety of other services allowing for modern and rapid communication with customers.

In addition to its own sales team of more than 800 field employees, Donau Versicherung works with some 3,000 independent insurance brokers and agents. Optimised administrative procedures and advanced IT support for its distribution partners create a basis for providing all customers with top-quality service that is comprehensive as well as prompt.

In Italy, Donau Versicherung operates via a branch office and has added to its position as a property insurer there. The expansion of the Italian product line to include motor liability insurance was approved on 10 November 2010 by Italian regulators. Sales were commenced immediately after receipt of the notice of approval.

Donau’s product portfolio has also included health insurance since May 2010. Hence, there is now an even broader line of products available to customers.

Sparkassen Versicherung AG Vienna Insurance Group has been operating as a life insurer on the Austrian market for 25 years.

With its customer solutions in the area of private and company pension schemes and a strong network of distribution partners, in particular Erste Bank and Austrian savings banks, s Versicherung is the largest bank insurer in the country and one of the leading life insurance companies on the Austrian market. Complete integration into the retail strategy of the local banks, in combination with customised life and non-life insurance products, have for many years been the factors behind the success of the collaboration with Erste Group.

The product strategy for 2010 focused, in the single-premium area, on index-linked guarantee products (s Garantie-Concept) and on traditional private pensions and government-subsidised retirement provisions (s Privat-Pension mit Prämien-Plus) in the area of regular premium payments. In 2010 s Versicherung – as the first insurance company in the market – succeeded in launching the new, legally prescribed life-cycle model as part of the government-sponsored pension plans. Not only new customers but also the vast majority of existing customers took advantage of the possibility of switching over to the new life-cycle model.