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Strategy operationalization

PZU AR 2020 > Strategy operationalization
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Best Pratices in PZU
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To enable the achievement of the PZU Group’s strategic goals for 2016-2020, 12 initiatives were pursued in the following four areas:

  • data analysis;
  • cross-selling;
  • digitalization of processes;
  • interactions with clients.

#newPZU 2020 strategic initiatives

#1 Single CRM

Initiative: combine PZU’s databases under a single CRM (customer relationship management) system / obtain a full client picture (360 degree view).


  • effectively customize the offer to client needs in terms of quality and costs alike;
  • align pricing to risk better;
  • accelerate the procurement process and streamline service processes by providing clients with tools to manage easily the products they have in the overall PZU Group;
  • create a full client picture (360 degree view) to cultivate partnership relations, standardize processes, grasp client needs better, underwrite risk in an optimum fashion, pursue more effective cross-sales efforts and manage the sales network more efficiently.

Metric: percentage of marketing consents and client contact details in PZU and PZU Życie.

Percentage of marketing consents in PZU

Percentage of marketing consents in PZU Życie


  • In 2020, development work on the integrated CRM platform was continued with a view to supporting all retail sales channels. The platform operates in the “360 degrees” environment – a system that provides PZU agents and employees with ergonomic and efficient access to full information about their clients. The 360-degree view helps build relations with clients and forms the basis for growing cross selling in the PZU Group.

#2 More effective tariff setting

Initiative: shorten the tariff-setting process, in particular on the motor insurance market.


  • optimize online prices;
  • align prices to risk better;
  • offer greater price elasticity;
  • maintain a highly competitive position;
  • improve sales results and profitability.

Metric: combined ratio (COR) (measure of profitability in non-life insurance).

Combined ratio (COR)


  • In 2020, the development of real-time price optimization tools continued. Solutions were also rolled out to support dynamic pricing to satisfy risk and client requirements and enhance the competitiveness of the offer while simultaneously increasing profitability.

#3 Artificial intelligence

Initiative: tap into new technology solutions harnessing proprietary resources and collaborating with the startup community (insurtech, fintech, technology firms).


  • support cross selling initiatives;
  • grow the client retention ratio in various lines of business;
  • analyze pictures and images in claims and benefits handling processes (e.g. comparison in real time of the picture of the claim and the cost estimate received);
  • smart solutions in medical diagnostics;
  • enhance efficacy in the detection of insurance fraud;
  • render risk management consulting services for companies;
  • launch the PZU Data Lab - center for the creation of innovations based on data and artificial intelligence;
  • cut expenses;
  • enhance quality in client service;
  • augment client loyalty;
  • build a competitive edge;
  • improve sales and profitability;
  • grow the value of the brand and the Company.

Metric: number of innovative solutions which at least 100 thousand clients of the PZU Group have used.


  • AI in the claims handling process – owing to the deployment of a solution based on artificial intelligence algorithms, PZU experts who handle more than half a million motor claims annually, receive only selected cases for analysis. The remaining ones, those that do not raise any doubts, are approved automatically or semi-automatically. This translates into significant financial savings and improvement in client satisfaction. Work is underway to deploy artificial intelligence in all other motor claims handling processes.
  • The Band of Life, adapted for use in care for patients infected with coronavirus, is an electronic device worn on a wrist that helps save human life. It monitors the basic vital parameters of patients, such as blood oxygen saturation, pulse and temperature, and alerts medical personnel of any emergencies. The Bands, introduced by PZU in 2019 under a pilot project, have been modified after the outbreak of the pandemic to support the care for patients suffering from COVID-19. By enabling remote monitoring of the patients’ health, the Bands reduce the risk of transmission of the virus to medical personnel. PZU donated almost one thousand Bands of Life to hospitals across Poland.
  • Cyber SME – a tool that scans the websites of small and medium-sized enterprises (SMEs) and verifies their cyberattack safeguards. It protects companies against threats coming from the Internet, providing them with tools to react quickly in the event of a cyberattack. PZU agents may also use this platform to prepare customized reports on cyber risks for distinct companies.
  • PZU GO – an innovative beacon device that sends out automatic alerts about a road accident and helps to ensure the rapid arrival of assistance services to the injured. It is pasted to the car’s windshield. It connects to the PZU GO app in the driver’s smartphone through Bluetooth and when it detects a large g-force that may suggest an accident, it sends an alert to the PZU Emergency Center. At the same time, it transmits information concerning the vehicle’s location. A PZU consultant immediately calls the client to check whether assistance is needed, and if the client does not pick up, the consultant summons rescue services to the site of the likely accident. More than 93%1 of clients declare that they are satisfied with PZU GO.

1 PZU data based on interviews with clients

#4 Cooperation with banks

Initiative: cooperate with the banking segment in the PZU Group.


  • sell insurance to the clients of Bank Pekao and Alior Bank;
  • bring new insurance clients from PZU to these banks;
  • save costs in the real estate administration and procurement system.

Metrics: premium in the banking channel, cost cutting as a result of collaborating with banks, number of clients attracted to the Group’s banks.


  • Continued collaboration with banks through the development of both the product offering and the distribution channels enabled the attainment of the assumed objective (PLN 1 billion in written premium from the banking channel) after Q1 2020. At yearend 2020, this result increased to PLN 1.7 billion;
  • Deployment of assurbanking as a new line of business, under which the CASH loan platform has been established, enabling employers to offer their employees a benefit in the form of quick loans with low interest rates and a simple method of repayment. This deployed business concept may become an unrivalled solution on the Polish loan market. The platform, accessible via the Internet address, was acquired in June 2020 by PZU Cash, a special purpose vehicle established for this purpose.

Amount of premium generated in collaboration with banks (in PLN billion)

Cost cutting as a result of collaborating with banks (in PLN million)

#5 Simplifying the product offering

Initiative: create a straight-forward product offer in respect of how the products are structured and the wording used to describe them.


  • have universal salespersons sell simple products effectively;
  • increase simplicity and shorten the process for clients to buy products;
  • make the simple offer available through the web (10 widely distributed products).

Metric: number of products in general sales.


  • in 2020 there were continued works to make a number of product enhancements for clients. New products and functionalities were rolled out to support more rapid customization of the offer to meet client needs, for instance, POZ Ochrona and POZ Zdrowie, as well as a number of smaller enhancements, such as creating a health questionnaire on the enrolment form to underwrite insurance risk more precisely. A number of service-related improvements were also implemented, new and simpler documents to confirm the conclusion of a contract were drafted and product parametrization was adjusted. In the near future there are plans to streamline the process of managing negotiations between agents / sellers and the client.

#6 Converting the sales network into a general sales network

Initiative: modify PZU’s own networks in the direction of becoming more universal in nature. This project applies to channels fully controlled by the PZU Group: branches, tied agents in life and non-life insurance and the corporate sales network.


  • approximately 5,000 universal salespersons (i.e. 50% of the Group’s proprietary network) by 2020;
  • distribution of at least 3 of the 5 lines of business (life insurance, non-life insurance, medical care, investment products, banking products) by general salespersons.

Metric: percentage of generalist salespersons in our proprietary networks.

Percentage of generalist salespersons in our proprietary networks


  • In 2020, there were over 5,000 general salespersons;
  • The execution of the goals related to universalizing the sales network was continued, i.e. distributing PZU Życie products through the PZU tied agents network. These solutions have made it possible to extend the distribution of life products and drive up sales effectiveness.

#7 Development of sales in PZU Zdrowie

Initiative: build PZU Zdrowie’s size and profitability. Build a competitive edge by tapping into technology and the high quality and accessibility of services.


  • develop new health insurance products and expand the “traditional” offering to include unique riders;
  • activate the sales network and tap into the full potential rooted in the PZU Group’s client base;
  • offer a modern patient service process giving consideration to the best practices on the market, innovative technological and medical solutions and quality of service standards, including VIP care;
  • develop a network of proprietary centers through greenfield and M&A projects.

Metrics: PZU Zdrowie’s revenues (PLN million) and EBITDA (%).

PZU Zdrowie’s revenue (in PLN million)


PZU Zdrowie’s EBITDA margin


  • launch of sales of a subscription-based product, targeted predominantly at strategic corporate clients, distributed through the PZU Zdrowie sales network. At the same time, rules for internal communication with other PZU Group companies and for work on the shared portfolio were prepared to generate the best possible synergies enhancing the efficient sales of health products;
  • establishment of a tender offering area – its key purpose is to align the product offering to the individual expectations of strategic tendering clients, in accordance with the adopted tendering procedure;
  • launch of a Remote COVID Care program PZU patients suspecting or already suffering from a coronavirus infection. The program includes remote internist and psychological assistance and providing patients with pulse oximeters to measure blood oxygen saturation;
  • adaptation of PZU Zdrowie facilities to the conditions of the pandemic and commencement of the provision of remote consultations on a large scale;
  • establishment of an own telemedicine center named Centrum Telemedyczne PZU Zdrowie [PZU Zdrowie Telemedicine Center];
  • establishment of collaboration with other medical centers. At yearend 2020, the PZU Zdrowie partner network comprised approximately 2,200 entities;
  • launch of a state-of-the-art medical center in downtown Warsaw, one of the best in Poland. The center has been fitted with a host of innovative solutions to improve care for patients and set new standards in this areas.

          #8 Development of sales and consolidation in PZU Investments

          Initiative: design a uniform asset management structure in the PZU Group to utilize multi-channel distribution; under the strategy until 2020, launch sales of products also on foreign markets.


          • achieve cost synergies (one “factory” of investment products);
          • ratchet up sales by deploying new investment products based on indices or on what is known as “life cycle”;
          • utilize the changes ensuing from the reform of the pension system - Employee Capital Schemes;
          • growth the net result on asset management.

          Metrics: third party assets under management (PLN billion), net result on asset management (PLN million).

          Net result on third party asset management (in PLN million)

          Assets under management for third party clients (in PLN billion)



          • Signing of ECS management contracts in 2020 with almost 20,000 companies employing between 20 and 249 staff, making TFI PZU a leader in this segment, with a 35% market share. At yearend 2020, TFI PZU had a total of over 35,000 ECS management contracts, including with companies employing at least 250 staff, in respect of which the requirement to establish the Schemes came into force already in 2019, and with companies employing fewer than 20 staff and public sector institutions required to establish the Schemes in 2021;
          • Thanks to the cooperation with Goldman Sachs Asset Management initiated in 2019, in January 2020 it was possible to launch two new passive funds: inPZU Goldman Sachs ActiveBeta Akcje Amerykańskich Dużych Spółek and inPZU Goldman Sachs ActiveBeta Akcje Rynków Wschodzących. In addition, the Akcje CEEplus inPZU subfund was launched. It was created in cooperation with the Warsaw Stock Exchange and is based on the WSE CEEplus index.

          #9 Implementation of a new „” portal

          Initiative: integrate the digital services surrounding the PZU Group’s processes. The largest project under this initiative is the mojePZU (“”) portal.


          • gather client information in a single place;
          • provide clients with a functional platform facilitating the use of PZU services, including the offering of insurance products, healthcare services (including the booking of doctor’s appointments) and investment management;
          • 5 million accounts opened by clients on the mojePZU platform.

          Metric: number of accounts opened by clients (5 million accounts).


          • provision of new functionalities of the mojePZU website to clients. In 2020, patients of PZU Zdrowie’s own centers were granted online access to their medical records and were able to book doctor’s appointments for their children. Since 2020, clients have also been able to view their list and status of claims and benefits through the platform. MojePZU also has a functionality enabling the purchase of selected products online (including Auto, Dom, Wojażer, Ja Plus, Edukacja, Auto Opony [Tires], Na wypadek Nowotworu [PZU against Cancer]), the use of an individual pension security account and accession to the PZU Pomocni loyalty club;
          • launch of an easy authentication option by the client on the mojePZU platform – using the popular mojeID and mObywatel services. The client’s identity is confirmed remotely through an electronic banking platform;
          • promotion of mojePZU among clients – dissemination of information about the website’s features and the resulting convenience of using the PZU offering;
          • launch of the mojePZU app for mobile devices;
          • 1.6 million mojePZU accounts at yearend 2020.

          #10 Development of direct offering

          Initiative: Develop the best sales site in the online channel among European insurers.


          • design an offer of 10 products based on simple and understandable rules;
          • reach clients who prefer digital channels;
          • build a leadership position in the direct channel with a market share of at least 50%.
          Metrics: number of products available in the direct channel (internet and telephone); market share held by PZU and Link4 of non-life insurance sold in the direct channel (50%).

          Number of products in the direct channel


          • Direct offer development strategy pursued on the mojePZU portal.

          #11 Loyalty program

          Initiative: launch a loyalty program for the overall Group spanning all its products. The points collected by using these services as well as other activities (among others having a claim-free history and referring the program to a friend) may be converted into products and services from our partners.


          • grow the number of client interactions;
          • expand the range and reach new target client groups (solicit young clients too) and align the offer better;
          • segment clients and personalize the offering;
          • support the development of all of the lines of business;
          • engage club members to act to benefit the local communities in which they live.

          Metric: number of participants in the loyalty program.

          Number of participants in the loyalty program (in millions)


          • Reach 2.2 million club members by yearend 2020.

          #12 Integrated service model for SMEs

          Initiative: integrate sales models in the small and medium-sized enterprise (SME) segment.


          • by the end of 2020, ramp up the sales of group insurance for small and medium-sized enterprises by 70%, and property insurance in this segment by 20% compared to 2016;
          • reorganize and unify the sales and service model, develop a multi-agency channel;
          • create product offers targeted at the SME segment.

          Metrics: pace of new sales of group insurance to SME clients in PZU Życie (70% up to 2020 - versus 2016), pace of growth of gross written premium on property insurance dedicated to the SME segment (20% up to 2020 – versus 2016).

          Integrated service model for SMEs


          • sales of group insurance to SMEs in 2016-2020 increased by 30% and property insurance by 34%. The continuation of the transformation processes in 2020 served the purpose of developing the sales network and acquiring new clients in the SME segment.