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SBM-1
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Operational processes, with insurance business as the key element, are at the core of the PZU Group’s value creation model, generating over 60% of the Group operating result. The offering is supplemented by health, banking, investment and pension products. Equity management in the PZU Group is implemented in accordance with the PZU Group’s strategy. This is why aspects related to the core business – insurance offered by PZU and PZU Życie – are of greatest importance.
The value chain includes a number of processes, resources and relationships that enable the Group to conduct its business. The value chain also reflects and is closely linked to the life cycle of the Group’s products, creating a comprehensive structure, which covers all stages: from product conception, through product handling, to the end of the life cycle, and in the case of insurance, the latter can still last for several years after the end of coverage.
Value moves along the chain, driven by collaboration, innovation and process improvement, and thus plays its role in the Group’s growth, in strengthening its market position, and in building shareholder value. In model terms, the PZU Group’s value chain consists of four elements: suppliers, operations, sales and clients.
The PZU Group cooperates with suppliers from many industries, in such business areas as administration, real property and information technology. The largest group of suppliers are business partners for IT, real property, utilities and energy purchases. The spectrum of supplies is wide, i.e., from comprehensive orders in the area of information technology and consulting to conventional goods and services.
PZU Group’s processes involve employees, partners and platforms. The main areas of operations include: insurance, banking, investment, and health.
The key processes related to the insurance area are as follows:
- market research, research into client needs and expectations;
- creation and development of products and services;
- sales and distribution;
- claims handling;
- handling of benefits and liabilities;
- service provision and management of client relations;
- operations (sales processing and settlement, contract servicing);
- data security;
- management of the Company’s financial resources.
Supporting processes (insurance business):
- human resource management;
- information management;
- IT management, development and maintenance;
- accounting;
- financial service;
- administration and logistics;
- corporate support (including legal services, corporate governance, marketing and communications, investor relations, etc.).
The PZU Group provides its clients with a comprehensive product offering through synergies within the conglomerate companies, offering access via a variety of distribution channels. Among all insurers operating in Poland, PZU provides its clients with the access to the largest sales and service network (as part of the insurance offering). At the end of 2023 it included: 409 branches, 8.2 thousand tied agents and agencies, 3.8 thousand multiagencies, over 1 thousand insurance brokers, as well as remote distribution channels. When it comes to bancassurance and strategic partnerships, the PZU Group collaborates with 13 banks and 27 strategic partners.
The Group enjoys the trust of 22 million clients. It offers products and services to retail clients, small and medium enterprises and big business entities. Poland is the PZU Group’s core market measured by its magnitude and client numbers. Nevertheless, the Group’s subsidiaries play an important role on the markets in Lithuania, Latvia, Estonia and Ukraine. Insurance is the core business of the PZU Group. PZU companies also offer investment, pension, and banking products as well as medical services. They render assistance services to retail clients and businesses through strategic partnerships. The Group companies’ operations are founded on clients’ trust. PZU places the client in the center of attention and integrates all areas of activity around the client. This allows it to offer increasingly personalized, flexible and comprehensive products and services matching the needs of clients at every stage of their private and professional lives and at the suitable place and time.
