VIG companies in Slovakia

Vienna Insurance Group operates three insurance companies in the Slovakian market, Kooperativa, Komunálna and PSLSP.

VIG is the leader in the Slovakian insurance market with a 32.7% share of total premium volume. It also holds first place in the life insurance and motor vehicle segments.

7.6% of the Vienna Insurance Group’s total premium volume is generated in Slovakia.

Kooperativa focused on service and product initiatives in the day-to-day business of the company and social involvement with children, for example in relation to the Comenius Children’s University, in 2011. The company, customers and business partners all now benefit from up-to-date processes in the collections, claims settlement and sales areas.

As of November, policyholders can now also make cashless premium payments quickly and easily by credit card at approximately 40 terminals operated by its strategic banking cooperation partner Slovenská sporiteľňa. Brokers benefit from an online tool set up by the company that provides a current overview of existing insurance portfolios. Kooperativa also improved communications with car dealers and garages. More than 250 partner companies can access information on the current status of claims processing, calculations, reports and other information through the company’s web portal. The benefits are already becoming evident: settlement and repair of damaged vehicles is faster, and comfort and availability are higher.

Komunálna revised its product portfolio in 2011. Improvements were made both from the customer and distributor point of view. Komunálna added a calculator for “ProDomo” homeowners’ buildings and contents insurance to increase customer convenience and flexibility. The new “Autobonus” product helps customers who are at fault for a loss for the first time. They benefit from a constant insurance premium in spite of the claim. “ProKomunál”, a product specially designed to meet the needs of municipalities, has an expanded scope of coverage, including revitalisation projects.

Komunálna has a long history of working together with the country’s municipalities, and these ties were further strengthened in 2011 when a five-year agreement was signed with the Association of Towns and Communities of Slovakia (ZMOS).

PSLSP has earned a secure position as one of the top life insurance companies in Slovakia in a short period of time. The company continued to enjoy a favourable reception for its new products last year. The funeral insurance product introduced in March is the perfect addition to the insurance portfolio. Excellent sales figures show the strong customer demand for the product. PSLSP increased its single-premium business by launching two index-linked life insurance tranches. In addition, a redesign of the renewal process to make it more customer-friendly convinced many policyholders whose policies were about to expire to continue with PSLSP.