Marketing and sales activities
The marketing of non-life insurance stems from the quality of the product range and its competitive advantages, while rebates in 2011 were limited and given selectively. The Company implemented a strategic direction to maximise the profitability of operations, which primarily raises the quality of portfolio, but not necessarily the written premium. The results achieved reflect both trends: the selection and improvement of quality of sales portfolio, and the negative impact on turnover and insurance premium. All of our attention is devoted to customer satisfaction and loyalty. Special offers were designed in order to acquire new policy holders, taking into account that Slovene customers mainly choose rational solutions in insurance.
In the development of the marketing and sales of non-life insurance, more attention was given to the presence of Zavarovalnica Triglav on the Internet. Existing web applications were redesigned and upgraded so that they are unified into the ITBuild software application. Internet sales of accident insurance for children, insurance of travel arrangements and medical travel insurance with assistance for travels abroad were redesigned; the redesign of the motor vehicle insurance sector will be finished in the beginning of 2012.
Furthermore, the modification of cooperation with leasing companies was continued, which was necessary due to numerous changes in the motor vehicle insurance sector, implemented in mid-2010.
Key development activities in the sales network
Zavarovalnica Triglav's extensive network of insurance agents and counter services is an important advantage, and many activities are focused on the development of the external sales network. In the internal sales network the grounds for awarding insurance agents were unified, and much attention was devoted to the activities for retaining and obtaining policy holders, as well as improving the portfolio. Information on motives for buying insurance were collected, special sales campaigns were carried out (insurance for an additional car in a family, and new "DOM" home insurance), and the sales of travel, life and supplementary health insurance was promoted. Emphasis was placed on the motivation and qualification of sales persons. For this purpose a contest was organised to reward sales personnel. The following were also successfully implemented and organised:
- system of awarding additional bonuses for the sale of new motor vehicle insurance in counter services;
- a two-day consultation meeting on operating in the current changed realities and other topical issues for heads of personal insurance sales, heads of representative offices and heads of insurance agent teams;
- a "Mystery Shopping" study, including analyses and implementation of measures;
- comprehensive sales training for personnel and individual specialised training seminars (sales training, specialised courses, sales management training).
In the external sales network, unified operational standards for external sales channels were upgraded. The results were carefully monitored, improvements based on the results of three "Mystery Shopping" surveys were implemented, and regional units and headquarters actively worked with contracted points of sale. Simultaneously, Zavarovalnica Triglav:
- introduced additional sales promotion tools for new motor vehicle insurance;
- organised a seminar with training courses for external points of sale coordinators to upgrade their professional and sales skills;
- carried out an educational seminar with employees in some contracted points of sale; and
- obtained new outsourced partners.
The ITB-Underwrite workshop was organised for sales officers, as were an annual seminar for sales officers on current topics on sales and marketing, and meetings of sales staff on underwriting arranged according to business segment. The marketing of accident insurance was transferred from life, health and accident insurance to non-life insurance. Sales activities for sales officers with a focus on the existing portfolio and cross-sales, and acquiring new policy holders were carried out.
Key account management was improved by enhancing the quality of information that formed the basis for making timely and correct decisions. For that purpose regular meetings with the persons responsible for claim settlements and risk underwriting were introduced.
The introduction of amended contracts was continued, allowing for better management of cooperation with insurance brokerage companies (brokers).
Organisation, work processes and authorities
In 2011 significant attention was again paid to improving sales process organisation and management in regional units. Comprehensive monitoring of operations and coordination of the external sales network were established. The organisation of non-life insurance marketing at the headquarter level was adjusted to market conditions and priority requirements.
All processes and activities were carefully reviewed according to business segment and the managers for these areas were appointed. Processes were also modelled and listed in the register of business processes of Zavarovalnica Triglav.
Marketing communication activities were carried out throughout the year. Due to ever more intense competition and the rapid development of the market, the greatest attention was paid to motor vehicle insurance, especially to the benefits for families. A large campaign was devoted to the sales of home insurance (DOM packages). Marketing communication activities for other forms of non-life insurance were carried out in a lesser extent, with carefully chosen target groups and media.
Focusing on individual target groups helped Zavarovalnica Triglav rationalise the use of financial resources at the level of distribution. Most of the resources were used for TV advertising. Focused advertising and presence on the Internet, utilising modern methods of marketing, were continued.
Co-branding events at the points of sale of some business partners were also organised.
In 2011 Zavarovalnica Triglav successfully marketed accident insurance for children and young adults, achieving almost a 70% responsiveness of existing clients. Direct marketing addressed the segment of policyholders who travel often or spend their vacation abroad. A special offer for the purchase and contract conclusion for travel insurance on the Internet with an option of purchasing a voucher that can be liquidated upon inception or renewal of motor vehicle insurance was introduced. In the same way, the sale of motor vehicle insurance was promoted.
The Triglav Group
The focus of our efforts was quality unification of the Group's marketing presence and support processes.
The underwriting programme AdInsure and the comprehensive IT-Build software application for the proper disclosing of assets and liabilities from international insurance programmes (ITB-Reinsure, ITB-Underwrite, ITB-Reinsurance, ITB-Analytics) were introduced . Work instructions for these programmes were issued, as well as the instructions for Triglav Group subsidiaries for sales, claim settlement and accounting, which shall, in parallel with the software support, provide proper registering of these programmes. By concluding general agreements with reinsurers, the Group defined the scope of business co-operation related to international insurance programmes within the Triglav Network. A non-standard line of insurance was marketed in order to increase the volume of business in these programmes.
Work guidelines and guidelines for rewarding insurance agents were prepared and implemented in most of the Triglav Group subsidiaries (except in Triglav Osiguranje, Belgrade and Triglav Osiguranje, Banja Luka).
Starting in 2012, the Company has focused on the implementation of education for heads of sales and heads of sales teams, and released sales manuals. In addition to seminars for heads of sales of non-life insurance in subsidiaries, the Company carried out professional practice and additional training for a group of employees from the Triglav Group subsidiaries.
Non-life insurance products in the European Union were marketed in line with the FOS (Freedom of Services) principle.