Agenda 2020: Strategic work programme

The strategic work programme Agenda 2020 is VIG’s answer to the current challenges the insurance industry faces. The initiatives for the three priorities are being implemented in close cooperation with the local companies and will ensure that VIG remains a strong, successful player in the Central and Eastern European insurance market in the future.

The three priorities of Agenda 2020 involve a variety of specific measures. Here is an overview.

Targets for 2020

VIG pursues a sound, yield-oriented growth policy to achieve its goal of sustainable profitability. The following specific targets have been set for 2020:

Result before taxes

EUR 500 – 520 million


> EUR 10 billion

Combined ratio

approx. 95%

1. Business model optimisation

To remain profitable over the long term, even in a challenging environment, VIG continues to improve its operating performance. The measures for prioritising “business model optimisation” are aimed at increasing cost efficiency and help reduce the combined ratio.

Shared services and mergers

Combining back offices in a country or region creates cost benefits. Group companies can also be merged if the long-term synergy effects outweigh the advantages of a diversified market presence.


Establishing a Group-wide best practice approach for anti-fraud-management in the retail lines of business, first manually and then computer-based.

Closed file review

Eliminate weak points in the claims handling process to avoid unjustified overpayments.

Optimising the profitability of motor insurance

Develop targeted measures focused on underwriting and risk selection as well as use new pricing methods.

2. Ensuring future viability

Demographic change, new lifestyles, technological innovation. For VIG’s business model to remain viable in the future, it has to change with the times. The measures for ensuring the future viability of VIG focus on the ability of the Group to use future opportunities. One of these measures is a partnership formed with Insurance Innovation Lab in Leipzig to examine the opportunities and risks of future trends and the possibility of working together with insurtechs.

Expanding lines of business

VIG is making use of growth potential by expanding business activities in the following areas:

  • Focus on health insurance
  • Expanding the bank insurance business
  • Expanding the reinsurance business
  • Strengthening SME business

Insurance of the future

Technological developments change how insurance is used and the forms it takes. Artificial intelligence and autonomous vehicles, for example, are making it necessary to re-think the traditional model used for motor insurance. VIG is also working on redesigning life insurance as an instrument for future provisions. In both cases, the aim is to provide added value in addition to the main goal of risk protection.


Based on its new digital vision, VIG is developing measures to modify its business model to appropriately accommodate the digital transformation. In addition to process automation, the focus is also on improving the customer experience (“anywhere, anytime, any way”) and developing new products and services. Enhanced forms of data analysis, sales promotion measures and a culture of innovation are further priorities.


Internal Group assistance services are being expanded. This creates competitive advantages, rounds off the insurance business model and creates a foundation for additional services in a digital future.

3. Organisation and cooperation

The key factor for the success of all measures is good collaboration on a partnership basis between VIG Holding and the Group companies. Clear rules and tools have been created for this purpose, together with an infrastructure to exchange best practices and experience within the Group.