Poland
POLAND: Indemnities for floods paid in under 24h
Recent floods from intensive rainfall in southern Poland resulted in massive mobilization from local authorities and insurance companies. Insurers took special measured to make claims liquidation faster and easier for those affected by the weather conditions.
30 May 2019POLAND: Gothaer TU rebrands to Wiener TU VIG
Gothaer's Polish subsidiary announced rebranding under the name Wiener TU VIG, after the German company was officially bought by Vienna Insurance Group (VIG) at the end of February 2019. The shift towards the new name and logo should be complete by the end of June this year.
30 May 2019POLAND: 2.6 million Poles chose private health insurance in 2018
By the end of 2018, there were 2.6 million Poles, who purchased private health insurance, a number exceeding 2.5 million for the first time in history, Polish Insurance Association (PIU) reports.
15 May 2019POLAND: KNF drew attention over Motor insurance premiums
The Polish Financial Supervision Authority (KNF) emphasized the adequacy of motor insurance premiums, for class 3 (Casco/Motor Hull) and class 10 (mandatory MTPL), since this group constitutes a significant part of the Polish market portfolio.
9 May 2019POLAND: Warta implementing two A.I. projects
Poland-based insurance company Warta is working on two artificial intelligence solutions aiming to improve interactions between the company and customers for claims reporting. The software uses voice and image recognition and will be fully operational in the second half of this year.
25 April 2019POLAND: The Management Board of PZU Zycie SA appointed for a new term
The Supervisory Board of PZU Zycie SA appointed the Management Board of the company, including its president Roman PALAC, for a new term, until December 31, 2022, the company said in an official statement.
11 April 2019POLAND: PZU Group successfully completed a pilot project of using A.I. in handling motor damage
Poland-based PZU Group announced that progress was realized on their PZU GO service, an innovative technology, which will support the insurer's employees and experts in motor claim handling. The time necessary for claim handling will be significantly shorten through the software.
11 April 2019PZU starts using AI to handle motor insurance claims aiming for tenfold increase of process efficiency
PZU successfully completed a pilot project of using artificial intelligence (AI) in handling motor damage claims, the company announced in a press release. PZU is the first insurer in Poland to implement this unique technology on such a scale.
28 March 2019STATISTICS: POLAND, FY2018: increased profitability despite a stagnating GWP level and increasing claims expenses
In 2018, Polish insurers paid almost PLN 42 billion (EUR 9.7 billion) to injured parties and clients. That's 4.7% more than a year earlier. On the other hand, GWP decreased vs. 2017, totaling some PLN 62.17 billion (~EUR 14.5 billion), representing a -3.29% reduction.
28 March 2019The Polish Insurance Association opens a representative office in Brussels
On March 1 this year the Polish Insurance Association (PIU) opened its representative office in Brussels. Its aim is to actively participate in legislative work on the European forum and to represent the interests of the Polish insurance market.
28 March 2019PZU Group, FY2018: the highest annual net profit for 5 years
In 2018, PZU recorded a profit of PLN 5.4 billion at Group level, while parent company profit was PLN 3.2 billion (+11.0%). Total GWP reached PLN 23.5 billion (+2.7%) in 2018.
14 March 2019POLAND: KNF's head on regulator's goals
13 March 2019Arkadiusz GESICKI, appointed managing Director for Business Development at PZU
Arkadiusz GESICKI was appointed managing Director for Business Development at PZU, responsible for the Strategy and Design Office and the Business Development Office.
7 March 2019POLAND: MAK Group and STBU brokers merge creating the first broker with over PLN 1 billion mediated premiums
The management boards of the MAK Group and STBU announced the two brokers will merge, creating the biggest player in the intermediation segment. In 2018, the aggregated volume of intermediated premiums exceeded PLN 1 billion, a historical record.
7 March 2019POLAND: UFG published its annual rankings of insurer data quality
The Insurance Guarantee Fund of Poland (UFG) published its 8th annual review of data quality provided by insurance companies. According to UFG's ratings, PZU, TUW TUW, Link4, Compensa and Allianz were the top 5 insurers in 2018.
7 March 2019VIG completes the acquisition of GOTHAER TU in Poland
Austrian insurer VIG expanded its non-life presence on the Polish market by acquiring 100% shares of GOTHAER Towarzystwo Ubezpieczen (Gothaer TU). The transaction was closed on 28th February 2019 following approval by the local authorities.
5 March 2019VIG expands in Poland by acquiring stake in insurance association "TUW"
Vienna Insurance Group (VIG) has purchased the entire stake of France's MACIF-Group in TUW "TUW" through InterRisk Group company. This operation will increase the VIG's share in Polish non-life market to 7%, getting VIG closer to its 10% market share medium term goal.
20 February 2019POLAND: platform for identifying insurance fraud launched by the Insurance Guarantee Fund
Aiming to help all market participants in revealing and preventing insurance fraud, the Polish Insurance Guarantee Fund (UFG) has launched a dedicated platform using advanced technologies.
7 February 2019POLAND, 3Q2018: Bancassurance arrangements provided for 12.6% of the market GWP
The Polish bancassurance distribution channel provided for 12.6% of the total premium production of the local market in 3Q2018, i.e. for a GWP volume of PLN 5.8 billion.
25 January 2019Poland: the financial markets' supervisory body reorganized as state legal entity
On 1 January 2019, further provisions of the Act of 9 November 2018 amending certain acts in connection with the strengthening of supervision over the financial market and investor protection on the Polish market entered into force.
8 January 2019
