Health insurance

Health insurance has been an important core competency of UNIQA for many years. In our home market, we are the undisputed market leader in this sector, with a market share of around 46 per cent. That’s why the UNIQA brand in Austria is closely linked with the concept of health insurance.

In CEE, however, the health insurance business is still in its infancy. This is because willingness to spend money on health requires a certain standard of living. But increased levels of prosperity make the long-term growth potential here even greater.

The objective that UNIQA is pursuing with a broad range of health insurance offerings is the same everywhere: we want to give people access to better healthcare in less time and at an attractive cost. Additionally, we would like to advise and support our customers with complementary services and motivate them to adopt a healthy lifestyle.

Needs-oriented offerings

With these offerings, UNIQA precisely meets a fundamental need of the people. Health is indispensable when it comes to well-being, quality of life and an actively lived life. It is therefore unsurprising that health is regularly ranked as most important when Austrians are asked about what really matters to them most in life.

Equally important is rapid relief in cases of illness: anyone who is sick would want to receive first-class medical help quickly. Apart from the question of how to avoid excessive waiting times in hospital outpatient departments or doctor’s offices, the trust placed in the attending physician or chosen hospital is given high importance. As a result, more than 30 per cent of Austrians have private health insurance.

High-quality medical care

UNIQA health insurance offers answers to these questions. Within the scope of various types of contracts, customers can secure high-quality medical care when they need it, involving in-patient treatment in a hospital’s premium category or out-patient by established private doctors. This includes a free choice of hospitals and doctors, as well as advantageous appointment scheduling for diagnosis and treatment.

All forms of illness and/or therapy can be covered by this insurance, ranging from premium treatment in the hospital to dentures. Particular policies have been also available online since 2016.

The wide range of offerings makes an impact. In December 2017, UNIQA asked more than 2,000 Austrians about health issues. Those who had private health insurance rated their state of health at 80 per cent, significantly better than those without private health care. Of these, only 65 per cent were satisfied with their health.

Consultation and prevention

The UNIQA Group also measures up to its role as a responsible insurance provider with its wide range of consulting and other services. The hotlines and digital consultation platforms that the company uses to support its customers in navigating the increasingly complex healthcare system are a key element of these services. For example, the MedPlus24service team of doctors can provide quick answers by phone or e-mail when it comes to obtaining a second medical opinion, preventative or travel medicine, information on hospitals or doctors, nutrition tips or support services.

In addition, UNIQA is actively dedicated to preventing disease and promoting a healthy lifestyle. Health examinations, fitness tests, individual consultation by professional VitalCoaches, exercise initiatives for children and youth or supporting mass sport events are just a few examples of this. Companies can use the UNIQA HealthCheck boxes for fitness or health check-ups. With these offerings, UNIQA also meets a major wish people have: more than half of Austrians have a personal goal of improving their health through weight loss, exercise and healthy nutrition.

First-class service will continue in future

These services will become even more important in future. UNIQA wants to develop into a positive, responsible companion in people’s lives. We would like to invite our customers to contact the company whenever they need advice and support for all things health related – whether it’s dealing with the public healthcare system, providing expedient and unbureaucratic access to medical services or simply when they have medical questions.

It is becoming increasingly difficult for people to keep track of things. There has been a real revolution when it comes to developments in medicine. The field ranges from genetic engineering through artificial intelligence, telemedicine and robotics, to nanomedicine. As a result, the networking of knowledge will become much more important than it is today. The same will apply to prevention, i.e. the targeted avoidance of disease by means of early detection. This is precisely where UNIQA is working hard to provide customers with added value, for example in the form of a web portal dedicated to holistic health.

1.2 million contracts in health insurance

More moderate premium shares, higher profitability

With about a 21 per cent share of group premiums, health insurance is, in absolute terms, our smallest sector. But it contributes significantly to UNIQA’s profitability and therefore is a solid capital resource. Health insurance is characterised by stable contributions, long-term contracts and a positive growth outlook. In addition, premiums rise together with the development of health costs and life expectancy. And the rate of cancellations is low, as provisions formed during the term of the contract are not transferrable in the event of a withdrawal.

More than 90 per cent of the premiums written in health insurance are accounted for by Austria, with CEE currently contributing around 7 per cent of the total premiums in this sector. While UNIQA covers both in- and out-patient services in Austria, out-patient care is clearly paramount in CEE – especially since at this time, there are hardly any private hospitals there. In the medium to long-term, however, we expect changes in this potential region similar to those we have seen in Austria and Western Europe.

Incidentally, UNIQA generates about one-third of the premiums in health insurance through group insurance, such as those offered to the employees of a company.