Warta improved its financial results
The Polish insurer Warta obtained in 2018 gross written premiums amounting to PLN 6.4 bln. The company announces further innovation solution implementation to improve clients’ services and fasten the claims settlement process.
According to the company the stable growth of GWP after 2018 was achieved due to using modern IT tools like ‘big data’. It allows quick and effective data analyses in the process of premiums estimation. In 2018 the non-life insurance company of Warta liquidated 501k damages and paid benefits amounting to PLN 3.4 bln.
The previous year Warta automated 13 of its organizational processes in the scope of compensation payment in mutual insurance, registration of vehicle sale agreements and MTPL insurance agreement terminations. The insurer commenced new projects with artificial intelligence use and mobile solutions in the area of claims settlement.
In 2018 the company in the life insurance sector earned PLN 34.4 mln, i.e. 16.4% more than in 2017. The non-life insurance company finished the year with PLN 468.5 mln profit.