26.01.2018
Wiener Städtische and Sparkassen Group Take their Partnership to the Next Level
Erste Bank, Sparkassen and Wiener Städtische Versicherung plan to intensify cross-selling of their services. At the heart of the closer cooperation is an integrated approach to insurance products for customers of Erste Bank and Sparkassen that will open new access paths to property and health insurance.
Wiener Städtische Versicherung, Erste Bank and Sparkassen are intensifying their year-long partnership. The new approach will give bank customers broader access to property and healthcare insurance and new products will be created specifically for sales through the bank. After merging Wiener Städtische and s Versicherung, the joint company will be market leader in the area of life insurance. “A comparison with European markets shows that up to ten percent is already being brokered in the non-life segment. We are aiming to attain this level as Wiener Städtische together with our partners Erste Bank and Sparkassen,“ explained Robert Lasshofer, CEO of Wiener Städtische Versicherung.
Specifically, this means that premium volumes in property and health insurance are set to triple by 2020, the growth rate in accident insurance is estimated at 15 percent, while the life insurance segment should continue to grow at a steady pace. “Additionally, we will improve our services for bank customers when help is needed by setting up separate hotlines to guarantee the rapid and efficient support and processing of cases,” said Lasshofer.
Wiener Städtische Versicherung, Erste Bank and Sparkassen are intensifying their year-long partnership. The new approach will give bank customers broader access to property and healthcare insurance and new products will be created specifically for sales through the bank. After merging Wiener Städtische and s Versicherung, the joint company will be market leader in the area of life insurance. “A comparison with European markets shows that up to ten percent is already being brokered in the non-life segment. We are aiming to attain this level as Wiener Städtische together with our partners Erste Bank and Sparkassen,“ explained Robert Lasshofer, CEO of Wiener Städtische Versicherung.
Specifically, this means that premium volumes in property and health insurance are set to triple by 2020, the growth rate in accident insurance is estimated at 15 percent, while the life insurance segment should continue to grow at a steady pace. “Additionally, we will improve our services for bank customers when help is needed by setting up separate hotlines to guarantee the rapid and efficient support and processing of cases,” said Lasshofer.
5.6 million customers
At around 5.6 million customers jointly, the potential is enormous for the next stages of our collaboration. “Current surveys reveal that providing for healthcare is one of the most important themes for Austrians,” said Stefan Dörfler, CEO of Erste Bank Oesterreich. The classic themes at the bank when providing information to customers on risk provisioning are savings, securities and life insurance. Now, we will be offering new and simpler products with ideal solutions for healthcare and property insurance designed for selling through bank channels. “A person who signing a residential loan contract will need home insurance. We can now offer this professionally from one source,” explained Dörfler. The pilot sales project launched last year at 13 branches of Erste Bank and Sparkassen was well received and customer interest was lively, therefore, the concept will be expanded to cover all of Austrian starting in March. This will ensure that innovative insurance solutions for bank customers such as the recently created s Alpin-Unfall-Schutz for alpine accident coverage or the s Cyberprotect product can be offered at all branches.
Providing for retirement
Providing for retirement
The President of Österreichische Sparkassenverband, Gerhard Fabisch, stressed the special regional relations to customers of the savings banks with over 1,000 branches throughout Austria. “Apart from financial advisory services, insurance products have been an important element of the professional, individual advice provided to customers since s Versicherung was founded by the Sparkassen Group 1985”. Providing for risks and retirement provisioning is a key theme in this context. “Because Austrians do not have confidence in their future state pension, providing financially for old age is important for 84 percent of the persons surveyed,” Fabisch said referring to the latest IMAS survey results. It is interesting to note that the young generation has recognized the importance of providing for old age (91% of 16-to-29-year-olds). The legal framework still lags behind this development though. “Therefore, we welcome the fact that the new government has included strengthening the third pillar of the pension system, i.e., private retirement provisioning, in its government programme,” stressed Fabisch and called for the rapid implementation of the measures.
WIENER STÄDTISCHE Versicherung is the largest single company of the international insurance group VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe (VIG) with its registered office in Vienna. It has nine main offices in the provinces of Austria, with 130 branches and 3,500 employees. The company also operates subsidiaries in Italy and Slovenia. WIENER STÄDTISCHE Versicherung is an innovative and reliable partner for all customers for both private life situations as well as in the commercial and corporate segment.
WIENER STÄDTISCHE Versicherung is a family-friendly employer and has implemented many measures to help achieve a balance between work and family life. It was awarded the certificate “Audit berufundfamilie” by the Federal Ministry for Family and Youth.
Erste Bank and Sparkassen is one of the largest financial service providers in Austria. Over 15,400 employees serve more than 3.5 million customers at over 1,100 branches. In 2016, Erste Bank and Sparkassen granted loans to over 19,000 persons to fulfil their dreams of an own home, distributed EUR 296 million in interest to domestic savers and enabled some 6,500 start-ups to realize their business ideas.