NAVIGATION
Navigation Map Download our best practices
- strategy (insurance, health, investments, finances);
- sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
In the CHAPTER
GRI
- 102-7 Scale of the reporting organization
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 201-1 Direct economic value generated and distributed
- 102-13 Membership in associations and organizations
- 102-40 List of stakeholder groups engaged by the reporting organization
- 102-42 Basis for identification and selection of stakeholders engaged by the organization
- 102-43 Approach do engaging stakeholders, including the frequency of engagement by stakeholder type and group
- 102-44 Key issues and concerns raised by stakeholders and the organization’s response, also by reporting them
In the CHAPTER
GRI
- 102-8 Data pertaining to employees and other persons working for the organization
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 404-1 Average number of hours of training per year per employee
- 404-2 Managerial skill development and continuing education programs supporting continuity of employment of employees and facilitating the retirement process
- 404-3 Percentage of employees subject to regular assessments of work quality and professional development reviews, by gender and employment category
- G4-FS16 Initiatives to enhance financial literacy by type of beneficiary
In the CHAPTER
In the CHAPTER
GRI
- 103-3 Evaluation of the approach to management
- 307-1 Cash value of penalties and total number of non-financial sanctions for non-compliance with the law and/or regulations on environmental protection
- 301-1 Raw materials/materials used by weight and volume
- 302-1 Energy consumption by the organization, taking into account the types of raw materials
- 302-4 Reduction of consumption of energy
In the CHAPTER
GRI
- 102-9 Description of the supply chain
- 102-11 Explanation of whether and how the precautionary principle is addressed by the organization
- 102-15 Description of key impacts, opportunities and risks
- 102-16 Organization’s values, code of ethics, principles and norms of behavior
- 102-17 Internal and external mechanisms making it possible to obtain advice regarding the behaviors in ethical and legal issues and issues associated with the organization’s integrity
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 102-5 Organization’s form of ownership and legal form
- 102-18 Organization’s supervisory structure along with the commissions that report to the highest supervisory body
- 205-1 Actions assessed in terms of threats associated with corruption
- 205-2 Communication and training on anti-corruption policies and procedures in the organization
- 206-1 Legal steps taken against the organization for cases of violating the principles of free competition and monopolistic practices
- 405-1 Composition of supervisory bodies and employees broken down into employee groups by gender, age and other diversity factors
- 406-1 Total number of discrimination cases and corrective measures taken in this regard
- 419-1 Non-compliance with the law and socio- economic regulations
In the CHAPTER
GRI
- 103-2 Approach to management and its elements
- G4-FS13 Access points to sparsely populated areas that are less economically developed
- G4-FS14 Initiatives undertaken to improve access to financial services for disfavored persons
- G4-FS15 Policies for the fair design and sale of financial products and services
- 417-1 Internal requirements concerning the labeling of products and services and information regarding them
- 417-2 Incidents of non-compliance with regulations and voluntary codes concerning the labeling of products and services and information regarding them
- 417-3 Incidents of non-compliance with regulations and voluntary codes concerning marketing communications
Read more:
- Client at the center of attention
- Innovations
- Responsible sales
- Insurance
- Banking and strategic partnerships
- Working conditions
- Employee development
- Knowledge sharing
- Enhancing safety
- Health
- Improvement of living conditions in local communities
- Our impact on the natural environment
- Practical challenges in managing direct impact
- Products and adaptation to climate change
Business model
Employee
CSR
Environment
- Ethical foundations of business operations
- Preventing corruption and conflict of interests
- Diversity and respecting human rights
- Whistleblowing system
- Transaction security
- Risk management, taking into account non-financial risk
- Risk appetite
- PZU Group’s risk profile
- Reinsurance operations
- Polish and Baltic States insurance sector compared to Europe
- Regulations pertaining to the insurance market and the financial markets in Poland
- Non-life insurance (PZU, LINK4 and TUW PZUW)
- Life insurance (PZU Życie)
- International operations
- Contribution made by the market segments to the consolidated result
Risk and ethics
Market
Business
Financial results
Read more:
- Client at the center of attention
- Employee development
- Health
- Cultural patronage
- Practical challenges in managing direct impact
- Ethical foundations of business operations
- Diversity and respecting human rights
- Whistleblowing system
- Transaction security
- Risk appetite
- PZU Group’s risk profile
- Risk vulnerability
- Capital management
Business model
Employee
CSR
Environment
Risk and ethics
Read more:
- New approach to sales
- Working conditions
- Employee development
- Diversity and respecting human rights
Business model
Employee
Risk and ethics
Read more:
- Client at the center of attention
- Medical services (Health)
- Working conditions
- Enhancing safety
- Health
Business model
Employee
CSR
- Our impact on the natural environment
- Practical challenges in managing direct impact
- Diversity and respecting human rights
- Medical services (Health)
Environment
Risk and ethics
Business
More than insurance
Discover the new PZU
Letter to Shareholders
CEO and the chairman introduce to You the most important achievements of the year. By reading those letters you will find out, what was the main achievement. Whatever on those statements will make you interested, for sure you will find it further on this website.
Dear Shareholders,
On behalf of the Management Boards of the PZU Group companies, I hereby convey to you our activity report for 2018.
Last year, economic conditions on the global capital markets were challenging for investors. High volatility returned to the financial markets. Positive sentiments persisted only at the outset of the year, riding the wave of optimism from 2017 when the main indices of the Polish stock exchange rose by more than 20%.
Dear Stakeholders,
2018 was a very successful year for the Polish economy. High GDP growth, equilibrium in the current account balance, the extremely low public finance sector’s deficit and the unemployment rate coming in at a level unrecorded in nearly 30 years formed great conditions for doing business. Relying on its strong brand and economies of scale, the PZU Group leveraged this period to strengthen its competitive edge and develop all areas of its operations.
These results affirm our unwavering strategy execution, not just in terms of the overarching objective of return on equity (ROE) but also in terms of various lines of business, efficiency and profitability parameters.
In 2018, the PZU Group attained a very robust combined ratio (COR) in non-life insurance – 86.6% in Poland.
2018 confirmed PZU Życie’s strong position as the leader in the periodic premium segment. PZU Życie’s share of the periodic premium insurance market at the end of Q3 2018 was at its highest since 2010 and was equal to 46%. Such a superb result was possible thanks to maintaining the very high attractiveness of the product offer, including an ever higher number of riders coupled with suitable risk pricing.
Financial results
PZU in numbers - see what we have accomplished and how we built the value of the PZU Group in 2018
Financial
performance
Share
performance
Sustainable
growth
Business
performance
Financial performance
Share performance
Sustainable growth
Business performance
PZU Group
Check out this interactive map!
See in which markets we are present in Europe.
We are leaders not only in Poland!
Percentage share in the operating result
(adjusted for PZU's shares in banks)
Percentage share in the operating result
(adjusted for PZU's shares in banks)
Percentage share in the operating result
(adjusted for PZU's shares in banks)
Percentage share in the operating result
(adjusted for PZU's shares in banks)
Percentage share in the operating result
(adjusted for PZU's shares in banks)
Poland
Estonia
Lithuania
Latvia
Ukraine
Stakeholders Map
Meet the key groups of our stakeholders and see how we manage these relationships
Our Strategy
See the implementation of the #nowePZU strategy in 2018 and see where we will be in 2020
#NEWPZU 2020 2017 - 2020
Better utilization of data
“PZU will be a company predicated on working on data, an advisory and consulting company that specializes in risk management pertaining to its clients. Our client relationships and our knowledge of our clients are becoming our main value, while our chief product is our acumen in addressing client needs to build a stable future. That is why we devote so much space in this strategy to initiatives that will enrich our client knowledge and assist us in reaching clients even more quickly.” – Paweł Surówka, CEO of PZUDigitalization of processes
“We want to become the most innovative financial company across Europe. We are betting on cooperation with entities that are engaged in innovation. We attempt to support startups and funds investing in new technologies. Our new strategy will show how we intend to tap into new technologies to pursue our “legacy insurance business.” – Paweł Surówka, CEO of PZUAdditional interaction with clients
“By defining the PZU Group’s mission anew, we have drawn conclusions from our own experience on one hand while pointing to the direction in which the entire industry will move on the other hand. We would like to do something different from the classical client relation model insurers follow in which the only contact clients have with their insurer after buying a policy is when a claim occurs. We want to do considerably more and effectively help clients solve their problems in many areas and during every stage of life. PZU’s new approach to building client relations are in the heart of this change.” – Paweł Surówka, CEO of PZUCross selling growth
“PZU’s clients make many important decisions that greatly influence their future security on top of their attempts to afford themselves, their loved ones, their firms and their employees insurance cover in their daily lives. The PZU Group wants to be part of all that – we want to help our clients make wise choices to protect their lives, health, assets, savings and finances. We want to give them tools to help them protect what is the most valuable to them. The New PZU is much more than insurance.” – Paweł Surówka, CEO of PZUKey Projects
Better utilization of data
PZU GO
Revolutionary telematic solution for the security area. It was made available to the clients in December 2018. More than 300 deviced were already in operation at the end of February.
Taryfikacja 3.0.
Development work (including pilot programs) in the dynamic pricing area that facilitates optimization of prices in real time.
Data Lab
Execution of projects regarding underwriting based on pictures and rapid quotation when buying real estate on the web.
Cross selling growth
Cooperation with Alior Bank and Bank Pekao
24 insurance products were rolled out in the banking offer, thereby ensuring the presence of PZU’s products in all the banks’ product lines.
PZU Zdrowie – new products and network development
Introduction of new health insurance products and riders to group insurance products. Network development through further greenfield, M&A projects and partnerships. At the end of 2018, PZU Zdrowie cooperated with more than 2,100 partner centers in more than 500 towns and cities in Poland. Its own medical center network was comprised of more than 60 entities.
Digitalization of processes
Robotic Process Automation
Execution of pilot processes, e.g. processes upading the system of court proceedings Robots gather data for employees in a specific place and perform simple operations
Zgloszenie.pzu.pl
Launch of a website that allows a reported claim to be valued in a record time. The outcome of these efforts is the shortening of the time it takes to register claims from 15 to 5 minutes. The number of cases registered by the Internet service has jumped up by 20% and the TPL/MOD service quality indicators improved more than 10-fold
Additional interactions with clients
Mojepzu.pl
Launch of a contemporary portal for clients, providing access to online product sales and booking appointments. Development work is carried out to provide further functions, including expansion of the product and service offering.
PZU Portal
The new unveiling of the pzu.pl portal providing access to claim reporting forms and contacts with an insurance agent.
Business: Value Creation Model
Every integrated report should have a Value Creation Model.
Reading our VCM will help you understand how PZU creates sustainable values.
Smart client needs analysis
Utilization of Big Data
Solutions based on artificial Intelligence
Flexible and multi-channel distribution network
Innovative mobile solutions
Fast and efficient service
Robotics
Advanced underwriting and tariff-setting methods
Insurance
Protection against the effects of events of chance – risk valuation, premium calculation and investment, payment of claims
Health
Health care – offering health insurance and medical care services, prophylactics, prevention, promoting a healthy lifestyle
Investments
Financial security protection – growing savings, capital accumulation programs
Banking
Conducting banking activities, including taking deposits, extending credits and loans, running bank accounts, handling cash settlements and rendering payment services
Insurance
Protection against the effects of events of chance – risk valuation, premium calculation and investment, payment of claims
Health
Health care – offering health insurance and medical care services, prophylactics, prevention, promoting a healthy lifestyle
Investments
Financial security protection – growing savings, capital accumulation programs
Banking
Conducting banking activities, including taking deposits, extending credits and loans, running bank accounts, handling cash settlements and rendering payment services
Shareholders and performance map
Another year in a row with an increase in the share of foreign investors in the PZU shareholder structure. Check our interactive map
