Vienna Insurance Group operates in a region that appears to be very homogeneous at first glance. A closer look shows that the structure and state of development of the individual insurance markets differ, in some cases considerably. As a result, business models cannot be simply transferred from one country to another without change. Products and distribution must instead be appropriate for the situation in each individual market. VIG, the leading insurance specialist in the CEE region, therefore follows the “Think globally – act locally” principle, placing its trust in local management and the experience of local employees who are very familiar with market conditions and people’s needs.
At the same time, all of the Vienna Insurance Group companies feel obligated to meet high standards in their activities, and appropriate guidelines have been defined at the Group level. Investments, for example, are governed by the same principles Group-wide. Employees of the insurance companies are also in continuous contact with employees in the Group’s holding company who coordinate and manage developments and activities within the Group. VIG promotes the exchange of information between Group companies by organising regular management and employee meetings where intensive discussions are held on new solution approaches and successful products.
