Highlights of 2019
UNIQA creates a new household insurance “Chilli”
Aiming specifically to meet the needs of flexible customers, for the first time our new household insurance can be terminated on a month’s notice. Long contract periods are now a thing of the past. “Chilli” can be taken out online with just a few clicks. When the insurance no longer fits with the customer’s life plan, it can be cancelled just as conveniently and easily on a monthly basis.
UNIQA acquires AXA subsidiaries in CEE
Around five million customers, 2,100 employees and €800 million in premiums – these are the key data of the companies of the French AXA Group in Poland, the Czech Republic and Slovakia which UNIQA is acquiring in 2020, subject to legal approvals. The objects of purchase are life and non-life insurance companies, as well as securities companies, pension funds and service companies belonging to the AXA Group in these three countries. The purchase price is around €1.0 billion. The acquisition of these companies makes UNIQA the fifth largest insurance group in the growth region of Central and Eastern Europe. The Group is thus investing in three growth markets in Eastern Europe, in which more than 50 million people live and whose economies have expanded much faster than Austria’s in recent years. With average growth rates of 3 per cent over the last ten years, the growth rate of the GDP of these countries is significantly higher than that of Austria, which was about 1.6 per cent.
UNIQA streamlines corporate group structure
By merging UNIQA Österreich Versicherungen AG and UNIQA International AG, we are preparing to implement the UNIQA 3.0 strategy programme and at the same time equipping ourselves for economic challenges and stronger competition. The merger of the two enterprises planned for 2020 will make our company significantly more customer-oriented, slimmer and more efficient. The listed UNIQA Insurance Group AG will continue to exist as a holding company until further notice, but will transfer all other functions, in particular all internal Group services, together with its shares in some service companies to UNIQA Österreich Versicherungen AG. The reinsurance business is to be transferred to UNIQA Österreich Versicherungen AG and UNIQA Re AG. Together with the merger, the Management Board has also been streamlined, enabling an even stronger focus on the rapidly changing needs of private, commercial and industrial customers: three Management Board members in the function “Customers & Markets” – divided into three areas, “Austria”, “Bancassurance Austria” and “International” – will in future be supported by six Management Board members with Group functions.
Life is more carefree with an accident prevention package
Prevention is more than just health and pension insurance; a far-sighted minimisation of risks is also important. This is why we are now offering a prevention package as an attractive add-on module in accident insurance, true to the motto “safer, better, longer living”. Once a year, our customers can choose between an Austrian Automobile, Motorcycle and Touring Club (ÖAMTC) driver safety training or a first aid course at the Austrian Red Cross, make use of UNIQA VitalCoach units or have their fitness profile created.
We have also improved our accident assistance package: now domestic help to support patients after an accident no longer depends on a hospital stay, and UNIQA also takes care of transport to outpatient follow-up treatments. On request, we can also arrange for a second medical opinion after an accident.
Claims settlement in Romania is now completely automatic
A Romanian customer of UNIQA has to wait a mere 30 minutes for his motor vehicle claim to be settled. At our Romanian subsidiary, a digital assistant by the name of ANA is now handling claims up to €500. Our comprehensive vehicle insurance customers benefit from this convenient and quick solution – and UNIQA proves once again to be an innovator, because we are the first insurance company with such a digital concept in the Romanian insurance market. And the trend goes on: ANA uses machine learning, so algorithms and processes of the application are continuously optimised. In addition, ANA will also be used in future for household insurance claims.
UNIQA is the first insurance company in Austria to receive a sustainability certificate
After phasing out coal-based business and entering into other voluntary commitments, we have not only proved to be a pioneer in terms of investment, but also in terms of awards: we were the first insurance company in the country to receive the ÖGUT Sustainability Certificate in Bronze by the Austrian Society for Environment and Technology. As early as 2018, we had already analysed our investment portfolio according to internationally recognised Environmental, Social and Governance (ESG) criteria. A good 40 per cent of our assets achieved three points, the highest score. Based on this positive result, we have developed our own guidelines for responsible investing, and since then have consistently taken social and ecological criteria into account in our investment decisions. After all, we are convinced that sustainable investments will also be economically profitable in the long term.
UNIQA Insurance Platform: the second product goes live
In June 2019 we reached a further milestone in our largest IT programme – the renewal of our core systems – when the second product went live. Unit-linked life insurance policies concluded through UNIQA’s exclusive sales organisation are now also managed in the new IT core system. And our team is already working at full speed to incorporate classic life insurance for both bank sales and UNIQA sales. The go-live is scheduled for June 2020. Other focus points are the migration of our existing life insurance contracts to the new system and the start of the implementation for property and casualty insurance.
Individual genetic testing for a healthier life
Lifestyle DNA analysis helps UNIQA customers to adapt their nutrition to their personal needs. The science-based genetic test shows which foods support your health and performance, how you can optimally train your endurance and muscle strength, and where your health opportunities and risks lie because of your genetics. The lifestyle DNA analysis is available to customers who have an UNIQA VitalPlan or a VitalCheck in their contract.