Agenda 2020 – Interim results
What VIG has successfully achieved since the start of the initiative.
Business model optimisation
Shared services and mergers
- 11 companies merged
Optimising the profitability of motor insurance
- Unprofitable truck portfolio reduced by 14% since the start of Agenda 2020
Anti-fraud-management
- Roll-out in 13 companies in 10 countries
- 70% coverage of the claims in these companies at the end of 2018
Closed file review (CFR)
- Performed in 9 companies in 5 countries
Ensuring future viability
Digitisation
- More than 150 digitalisation projects being implemented
- VIG digital vision and digital inventory used in 10 countries
- VIG internal innovation competition, VIG Xelerate, held for the second time
Expansion of internal Group assistance services
- 5 assistance companies in 7 countries in Central and Eastern Europe
- More than 500,000 assistance cases since the start of Agenda 2020, of which 80% were already handled by VIG’s own companies
Insurance of the future
- Cooperation with InnovationLab Leipzig
- Motor strategy lab for the motor business of the future
- Cooperation with start-ups
- viesure start-up established at the beginning of 2019
Expanding lines of business
- Health insurance: 84% premium growth in the CEE region, primarily driven by a 108% increase in the 5 key countries of Bulgaria, Poland, Romania, Turkey and Hungary
- Bancassurance: Since the start of the initiative at the beginning of 2018:
- Group-wide premium growth of 14% (CEE 20%) in the non-life insurance area
- 27% increase in health insurance portfolio premiums in Austria
- Reinsurance: 17% premium growth for VIG Re, 2 new branches established in Frankfurt and Paris to allow both the German-speaking region (Germany, Austria, Switzerland) and Benelux region to be served
- SMEs: Premium volume exceeds the threshold of around EUR 339 million for the first time