VIG companies in Austria

Wiener Städtische, Donau Versicherung and s Versicherung are the Austrian companies of Vienna Insurance Group.

Vienna Insurance Group’s market share of 24.3% at the end of the third quarter of 2011 makes it the largest insurance group in Austria. It is the market leader in both life insurance, with a market share of 28.0%, and property and casualty insurance, with at market share of 22.0%, and holds second place in the health insurance sector.

Wiener Städtische is the biggest single company in Vienna Insurance Group and the leading insurance company in Austria. It also has branch offices in Italy and Slovenia.

Wiener Städtische continued to introduce new products and make adjustments to existing products to meet the demands of these two roles in 2011. “ZukunftsPLUS” special class supplementary insurance, new “Business Class” or “START-INS-LEBEN” package for children all have the same goal: to directly meet customer needs specific to their particular living or business environment.

Wiener Städtische’s health insurance customers can use “ZukunftsPLUS” to reduce their special class policy premiums by a quarter or even a half when they turn 65. If the policy is cancelled before the premiums are reduced, the entire actuarial provision for the supplementary policy is paid out. An excellent argument can be made for “ZukunftsPLUS” coverage, particularly in times when adjustments need to be made.

Wiener Städtische also had a successful year in terms of its public image. The “Parking” episode won second place in the Werbespot Award 2011 (advertising award), making it one of the best liked commercials in Austria. Customers were just as pleased with the redesign of the website last year as with the helpful claims reporting and storm warning service apps.

To learn, you have to ask questions and listen carefully. Based on this motto, Donau Versicherung asked its customers about their satisfaction with its insurance services in the second half of 2011. The results show how Donau Versicherung is perceived by its customers. Based on these results, the company is now developing forward-looking strategies aimed at serving the needs of existing and potential customers even better.

The results of the Assekuranz Award Austria 2011 insurance awards clearly show how satisfied Austrian brokers are with Donau Versicherung products. Donau Versicherung received two gold and three silver awards, taking first place in the commercial insurance and motor vehicle liability insurance categories. And next year? Perhaps two new products introduced in 2011 – “SicherImHeilwesen” special insurance for doctors and alternative healthcare practitioners, and “FlexPlan” flexible future provision policy – will be among the winning products.

s Versicherung is one of the pioneers in the Austrian life insurance market. It was the first company to react to the extension of the minimum period for preferential tax treatment of single-premium policies as of 1 January 2011, launching its new “s Ertrags-Concept” product with inflation protection.

Well established and highly popular for decades, life insurance experienced a renaissance in 2011. The improved product, with the name “s Lebens-Versicherung”, is highly flexible and transparent, and is easily understood by customers. Policyholders make their own decisions on the most appealing balance between security and income, and benefit from extensive informational services and the integrated “Ertrags-Retter” (income protector), which protects against the loss of income earned from equity investments and increases guaranteed payments accordingly.