Responsible products

Highlights 2017

Business

Group model based on a comprehensive offering in the insurance, finance and health area
Group model based on a comprehensive offering in the insurance, finance and health area
2000 outlets at the disposal of clients in the health insurance and medical care services provided by the PZU Group
2000 outlets at the disposal of clients in the health insurance and medical care services provided by the PZU Group
Strong market position in motor insurance, including direct activity with a market share of 38.4%
Strong market position in motor insurance, including direct activity with a market share of 38.4%
Pekao ranked 2nd and Alior Bank ranked 8th in terms of accumulated assets
Pekao ranked 2nd and Alior Bank ranked 8th in terms of accumulated assets
The PZU Group’s share in the non-life insurance market is 35.7%
The PZU Group’s share in the non-life insurance market is 35.7%
Strong position in insurance with a periodic premium with a market share of 45.8% (+0.7 p.p. y/y, the highest level since 2010)
Strong position in insurance with a periodic premium with a market share of 45.8% (+0.7 p.p. y/y, the highest level since 2010)

GRIs:

Reference Areas:
Health
Investments
Banking
Best Pratices in PZU

“New PZU” 2020 ambition
– NPS (satisfaction) indicator for retail clients in insurance
> higher than the competition

We are trustworthy - “We have the right qualifications and tools to meet our obligations toward clients. Hence, we can credibly and logically inform them about our offer and our products. Do your best to use that knowledge wisely so that you never mislead anyone.

Model agreements and advertising materials that we draft should be transparent and unambiguous.

Contact with the client is based on trust. Remember that when discharging our professional duties, we act always in the name of PZU. If a client loses trust in us, they will be highly unlikely to continue their cooperation with us.

We are obliged to treat all our clients equally. None of them should be denied service, information or explanations.”

A key area of responsibility for every financial institution is to design and offer its services in a responsible manner, which is one that makes the client’s financial security an issue of top priority. In the case of PZU Group companies, the interpretation of this function is based on the literal application of the “we play fair” value to everyday business practice. This is the assumption that must be applied throughout the life cycle of any product.

Honesty is most important to us - “To us, honesty means more than just acting in compliance with the law. We are not afraid to admit any mistakes we’ve made and draw conclusions from them. But we also don’t hesitate to present our own opinions, we’re capable of meeting the obligations we’ve undertaken and we don’t waver when it comes to expressing appreciation or doubt.”

Product designing

Aspects associated with the client’s security are evaluated already at the stage of product concept creation by both the insurance companies and the banking sector companies. While being developed, a product gets subjected to review by a host of organizational units. Besides the acceptance by such units, required, for instance, in order to confirm the ability to implement a new product in the IT and accounting systems, the product must gain the acceptance of lawyers or compliance specialists. For this reason, the product is scrutinized in terms of its compliance with current case law (e.g. that issued by UOKiK). Such an approach helps reduce the risk that agreements to be signed with clients contain clauses that might be considered to breach their interests. If found, they might not only dent the reputation of the PZU brand but also entail considerable financial penalties. All Polish insurance companies of the PZU Group have implemented programs of compliance with consumer law or competition law depending on the nature of their busines

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