Europa Group: new contracts and individualised product offer

Within the first six months Europa Group generated nearly 44 M PLN in revenue and collected 782 M PLN gross premium written (acc. to PAS). The strategy based on acquiring new channels of sales and profiling offers for business partners is delivering measurable results. Europa’s companies achieved satisfying sales results, among others, in the mortgage insurance sector, leasing and investment insurance.

In the first half of 2016 Europa Non-Life collected 176 M PLN gross premiums written (by IAS and PAS) and generated a profit of 35 M PLN, i.e. 15% more year over year (net income does not include the dividend received). Europa Life increased its sales by 60%, generating 606 M PLN premiums by PAS (and respectively 527 M PLN by IAS). The financial net result of the company was 9 M PLN.

Years of experience in bancassurance have taught us how to go forward despite the turmoil in the market. The cooperation with banks remains our most important business. At the same time, we are systematically building other pillar, creating an offer for non-banking partners and products that customers can buy on our website or via comparison engines. The Internet is no longer only a source of information about insurance, but it’s starting to be an effective tool for distribution, says Marat Nevretdinov, Vice President of Europa Group.

Europa Non-Life – growth in key segments

Europa Non-Life further develops its distribution of insurance products, addressed to SME on top of the leasing offer. This segment develops next to continuous development of business relationships with the existing partners offering Europa's products as well as acquiring new partners for cooperation. The Non-life company customises its offer and the entrepreneurs using the services of a leasing company or a bank receive products tailored to their real needs. SMEs and entrepreneurs who lease vehicles or machines can enjoy a wide range of Europa Group product offer, including legal protection insurance, GAP, property insurance or loss of profit insurance.

In first half 2016, the non-life company increased its sale of insurance policies linked to mortgage loans. This growth is enhanced by the recovery in the loans’ market which results from the implementation of government programmes such as Mieszkanie dla Młodych (Apartment for the Young).

The distribution of insurance policies in non-financial industries also plays an important role as far as premiums written are concerned. The company continues to sell extended warranties on equipment purchased in household appliances retail chains and insurance policies for smartphones’ and tablets’ displays for mobile networks’ customers. The company also expanded its sales network of travel insurance establishing cooperation with new travel agencies and insurance comparison engines offering its travel policies, including Travel World and insurance of resignation costs.

This year's novelty is personal liability insurance which customers can buy on www.tueuropa.pl. In recent weeks, the company introduced another offer available online: identity protection insurance, protecting legal interests of individuals whose personal data may be used in an illegal manner.

Europa Non-Life dynamically entered into the sports insurance segment and started to insure competitors taking part in mass events, including the most prestigious triathlon competition in Poland, Herbalife Ironman 70.3 Gdynia. At the same time, the company sponsors many running events. Competitors use a specially prepared Sport Accident Insurance. It provides protection in case of injury, because the compensation paid allows to cover effective treatment and recovery. In addition to the group policy, competitors in sports events can enjoy numerous additional options, including resignation or sports equipment insurance. Sport Accident Insurance can be bought individually on Europa Non-Life website. It is made for both amateurs and professionals. Depending on their needs, customers can decide for how long they want to use the protection – throughout a year, one season or only during one event.

Europa Life – new investment solutions

Europa Life increased their sales by approximately 2.5 times year over year. Such growth was possible only thanks to a completely new product solution with a simple fee structure, low level of additional costs and a possibility of resignation at any time.

At the same time, since March, the company has worked on adapting its products to the Polish Financial Supervision Authority's recommendation on testing the adequacy of investment insurance policies to the needs and capabilities of customers, which entered into force in July.

Currently, the company offers unit-linked insurance policies with a single premium targeted at different customer segments. The most popular products are those which, on the one hand, provide access to a wide range of funds, and on the other hand, allow allocating funds to  specially profiled model portfolios. We are particularly pleased with the fact that our customers name the great performance of our recently introduced products as the main advantage, says Marat Nevretdinov.

Life protection offered with mortgage loans has a significant share in the structure of Europa Life's revenues. The ability to have a policy that not only secures the obligations of the borrower to the bank, but also provides compensation for his or her relatives as a result of unexpected random events is also gaining on importance.

In the first half of this year, Europa Life debuted on the 3rd position in the first reading of the “Institution of the Year 2016” ranking in the category “Remote Contact Channels”. The ranking, created by the experts of mojebankowanie.pl, examines the quality of service in banks, insurance companies and telecoms. The excellent third place confirms the great attention we pay to the level of customer service.

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