Agenda 2020: What we are doing TODAY to make ourselves fit for THE FUTURE

Combining back office functions in a country or region creates cost benefits. Group companies are also merged if the synergies of a merger outweigh the benefits of a diversified market presence in the long term.

Innovative methods for setting prices, e.g. using advanced analytics, increase income in the motor line of business. Targeted measures for underwriting and risk selection and a new foreign claims team improve profitability.

A Group-wide best practice approach uses targeted anti-fraud measures to prevent unjustified claims.

A systematic review of closed claims identifies weak points in the claims handling process and prevents future overpayments.

VIG is promoting highly promising areas, such as:

• Bank distribution
• Health insurance
• Reinsurance
• SMEs
• Assistance

The rapid pace of technological change requires continuous reassessment and redesign of insurance solutions. Traditional motor insurance, for example, could change into a solution for mobility risks due to autonomous vehicles, and traditional life insurance could change into a comprehensive tool for future provision. For VIG’s product design, this means: protect against risks and offer added value.

By means of its digital vision and centralised process for developing local transformation plans, VIG assists its Group companies in the digital transformation of their business models. The customer experience is improved and processes are automated, when reasonable, based on the motto “anywhere, anytime, any way”. A Group-wide culture of innovation is helping VIG to better address its challenges.

The expansion of assistance within the Group adds appropriate additional services to the traditional business model of insurance products. They also form a basis for future digital extensions, thereby creating competitive advantages.