|Factors conditioning implementation
||Summary of activity and achievements in 2015
|Effective distribution and customer service
- Continued implementation associated with the introduction of a new policy system (Everest Platform) to improve PZU’s flexibility and competitiveness. In 2015, remaining non-life products and first corporate insurances were introduced. For the most part of 2015, external sales channels (multiagents, dealers, brokers) and remote channels were prepared to work with the new system.
- Continued implementation of innovative PZU Branches – well-visible and common for the entire Group. In 2015, 45 PZU Branches were activated and 151 Branches operating under the new model have been opened since the launch of the process.
- Continued work aimed to consolidate and improve the visualization standard of Exclusive Agent offices. In 2015, 635 offices in the new standard were opened. From the start of the project, 866 offices in the new standard were opened.
- There is ongoing work on the target sales support operating system.
|A socially responsible organization
- In 2015, the key way to promote active lifestyleand health prevention among Poles was PZU Group’s involvement in running initiatives. PZU served as the strategic partner of numerous sports events, including the PZU Warsaw Marathon.
- In scope of activation of local communities, PZU Group organized PZU Trasy Zdrowia – green areas specifically designed for physical exercise – in several municipalities throughout Poland.
- As a patron of culture, PZU was involved in the preservation of Polish cultural heritage, supporting the Royal Castle in Warsaw, Royal Łazienki Museum, National Museum in Kraków, National Museum in Warsaw, and Grand Theatre—National Opera.
- In 2015, PZU Foundation realized another edition of the campaign “Kochasz? Powiedz STOP Wariatom Drogowym” (If you love, say STOP to Reckless Drivers). Its main objective was to improve road safety by promoting responsible attitudes among drivers.
|Effective claims handling and operations, flexible IT
- 84% of PZU Group’s clients are satisfied with claims and benefits handling (satisfaction survey on a sample of 4.7 thousand clients conducted in the fourth quarter of 2015).
- The regulations concerning claims paid from TPL insurance drafted by PIU (Polish Chamber of Insurance) came into effect on 1 April 2015. PZU is the initiator of the Direct Claims Handling program.
- There was ongoing work aimed to implement the advanced fraud detection system. The first implementation of the tool for motor insurance is planned for April 2016.
- A new human resources and salaries system has been implemented as the first step towards standardization and improvement of HR processes in the whole company.
- In order to optimize the costs, the next stage of the restructuring program in PZU and PZU Życie has been carried out. On 8 April 2015, the Management Boards of PZU and PZU Życie declared their intention to conduct collective redundancies in accordance with the Act on the specific principles of terminating labor relationships for reasons not attributable to employees dated 13 March 2003. The restructuring took place in the second quarter of 2015. It covered 267 people in PZU and PZU Życie, including the employment reduction which pertained to 134 PZU and PZU Życie employees
|Effective capital and investment policy and integrated risk management system
- 18,318,473 shares of Alior Bank, which compose 25.19% of the share capital, have been acquired. The total value of the transaction is PLN 1.63 billion. Two of the total projected 3 share tranches were cleared in 2015. The final one was cleared in March 2016.
- Cooperation has been established with the National Center for Research and Development, which will see PZU Group take part in the setting up of venture capital funds for the sector of new technologies.
- PZU Finance AB (a 100% subsidiary of PZU) issued eurobonds for the amount of EUR 350 million. The bonds bear interest at a fixed interest rate of 1.375% per year and the interest will be paid once a year. The redemption of the bonds will take place on 3 July 2019.
- All of the Group’s insurance companies were adjusted to fulfill the requirements of the Solvency II directive.
- In accordance with the GSM decision, the dividend of PLN 2.59 billion, i.e. PLN 30.0 per share, was paid on 21 October 2015.
- A split of PZU stocks in relation of 1:10 took place on 30 November 2015. The shareholders retained their share in PZU ownership and rights held before the split.