Exploiting the high potential in CEE

Strengthened by the acquisition of AXA subsidiaries in Poland, the Czech Republic and Slovakia, we want to make targeted use of the continued high potential in CEE thanks to high GDP growth rates and low insurance density compared with western Europe. We are relying on a radical transformation of our business model with this through digitalisation, increased comparability, more transparency, hybrid offers for different channels, as well as cross-border customer-focused services. While we are building on an all-lines approach in all customer segments in our four core CEE markets of the Czech Republic, Slovakia, Poland and Hungary, we are taking a more selective approach in the remaining CEE markets in line with the respective market conditions. We are relying on a joint venture with RBI in Russia, whereas Liechtenstein serves as a hub for our digital business models. There will be a standardised evaluation according to economic criteria in place for each country as of 2022.

• In the Retail segment in CEE, we are focusing on a uniform product architecture across all countries, further streamlining of our product range, standardised pricing models and a multi-channel approach in sales. The Group-wide harmonisation and automation of our process landscape also falls under this aspect. This is expected to bring a significant increase in service quality, particularly in our four core markets. Our general focus in this customer segment is on service-oriented, hybrid and digital-savvy customers as well as on microenterprises, and we are accelerating our efforts in the profitable non-motor business in particular.
• State-of-the-art risk engineering is a high priority for us in the Corporate segment in CEE. Our focus here is on property insurance and affinity programmes, i.e. offers for our customers’ own clients. Employee benefits in health, accident and life insurance are an important example of this. The Corporate Business Navigator mentioned above enables centralised management across all process steps with this.
• In the Banking customer segment, which is still small but profitable and which we manage together with RBI and in some countries additionally with Addiko and mBank in CEE, our focus is on the retail customers of our banking partners. In addition to further developing our product portfolio, the priority here is on improving our process and service standards and sustainably optimising our portfolio quality. Other important focal points are continued digitalisation and the creation of alternative sales channels. The plans for the new Digital Sales Platform (DSP) will support the banks’ omni-channel strategy in full.
• In the area of Operations in CEE, our focus will be on the standardisation of our core processes and integration of the AXA companies acquired in 2020 into our IT infrastructure. The overriding objective is to reduce internal complexities so that we can help our clients quickly and efficiently whenever they need us.