PZU on new strategy, based on banks and life segment
The insurance group PZU is preparing a new strategy with a strong focus on the healthcare segment development, CEO of PZU Życie Roman Pałac told PAP.
"We are working to prepare a new, multi-year PZU group strategy. The healthcare segment will be a very strong element of that strategy. We want to build the number one position on that market", said Roman Pałac.
The company is planning further acquisitions on the healthcare market. It wants to increase revenues from this segment to exceed PLN 1 bln.
"Our cooperation with banks is going very well. We expect that the share of premiums obtained thanks to cooperation with banks in the total premiums of the PZU group will be growing. The full effects of the cooperation with the banks will be visible in the 2020 results", he adds.
Last year was very difficult for the life insurance market. PZU Życie is one of the few life insurance groups that grew in 2019. “We focused on protection insurance and group insurance; the SME market is an important segment that we are trying to develop", Pałac explained.
"In 2020 we want to develop group insurance. We will want to highlight healthcare programs in group insurance programs. We also want to strengthen our presence in the individual client segment. I think that by the end of the year we will show a new range of protection products. On the one hand, they will protect the family's financial future and on the other they will offer healthcare protection and a program of building long-term savings", said PZU Życie CEO.
The PZU offer will be simplified. The insurer wants to remodel their offer in the segment of life insurance for individual clients.