UNIQA Insurance Group Business Model Canvas

UNIQA's partnerships with technology providers and Insurtechs are crucial for its digital transformation. These collaborations allow UNIQA to integrate cutting-edge solutions, improving everything from product development to customer service. For example, working with Insurtechs helps them quickly launch new digital insurance products, a key part of their strategy.

These alliances are designed to boost efficiency and reduce operational costs. By leveraging new technologies, UNIQA aims to streamline administrative processes, which in turn can lead to significant savings. This focus on digitalization is a core component of their 'Growing Impact 2025 – 2028' strategy, aiming for a more agile and cost-effective business model.

UNIQA's key partnerships are foundational to its operational resilience and market reach. Collaborations with reinsurers, such as UNIQA Re which wrote €1.909 billion in gross written premiums in 2024, are vital for managing large-scale risks and ensuring financial stability. Distribution partners, including brokers and agents, are critical for expanding market penetration, contributing significantly to Austria's €5.2 billion in gross written premiums in 2023.

UNIQA Insurance Group's key activity of claims processing and management focuses on ensuring efficient and fair handling of all policyholder claims. This core function is vital for maintaining customer trust and the company's reputation.

The process involves thorough investigation, verification of policy coverage, negotiation of settlements, and timely disbursement of payments. In 2023, UNIQA reported a claims ratio of 63.5%, indicating effective management of its underwriting and claims operations.

UNIQA's digital transformation and IT infrastructure management are pivotal for modernizing its operations and enhancing customer experience. This includes developing and maintaining digital platforms for sales, service, and claims processing, ensuring efficient and secure data handling. The group is investing significantly in technology to streamline processes and offer innovative digital solutions to its 17 million customers.

In 2024, UNIQA continued to focus on digital channels, with digital sales contributing a growing percentage to its overall premium income. This strategic push aims to improve operational efficiency and customer engagement through user-friendly interfaces and data-driven insights.

UNIQA Insurance Group relies heavily on its skilled human capital, comprising over 21,000 employees and exclusive sales partners. This includes crucial roles like actuaries, who analyze risk and pricing, and underwriters, who assess and accept insurance applications, ensuring the company's financial health.

The expertise of these professionals is fundamental to UNIQA's operations, from developing innovative insurance products to managing complex risks and delivering exceptional customer service. Their collective knowledge directly supports UNIQA's strategic goals, such as the 'Growing Impact 2025 – 2028' plan, by driving market expansion and operational efficiency.

UNIQA's key resources include its strong financial capital, evidenced by a 2024 SCR ratio of 264% and a Q1 2025 ratio of 274%, well above its target of 180% through 2028. Its extensive proprietary data, used for sophisticated actuarial models, contributed to a solid net combined ratio in 2023. The company also relies on over 21,000 skilled employees and robust IT systems, including digital policy management and customer portals, to drive operations and innovation.

UNIQA boasts a robust operational footprint across Central and Eastern Europe, a region encompassing approximately 160 million people. This extensive network provides customers with unparalleled local expertise and easy accessibility.

Being present in these dynamic markets allows UNIQA to tailor its services with cultural sensitivity, fostering deeper connections and achieving greater market penetration. This proximity is crucial for building strong customer relationships and delivering responsive support.

The CEE region is recognized as Europe's fastest-growing economic area, making UNIQA's established presence there a significant advantage. This strategic positioning enables the company to capitalize on regional growth opportunities and serve its customer base effectively.

UNIQA Insurance Group offers a comprehensive suite of insurance products, from property and casualty to life and health, ensuring robust financial security for individuals and businesses. Their commitment to tailored solutions, as evidenced by a strong performance in 2024 driven by adaptable offerings for SMEs, solidifies their role as a dependable partner.

For its corporate clients, UNIQA Insurance Group assigns dedicated account managers. These professionals offer specialized advice, expertly manage complex insurance portfolios, and develop bespoke solutions tailored to each business's specific requirements. This high-touch relationship model is crucial for fostering strong, long-term partnerships.

This personalized approach ensures that corporate clients receive comprehensive risk management strategies and customized sustainability solutions. For instance, in 2024, UNIQA reported a significant increase in client retention for its corporate segment, attributed largely to the proactive engagement and specialized support provided by these dedicated account teams.

UNIQA's customer relationships blend personal interaction with digital convenience. In 2024, a significant portion of their customer base utilized digital self-service platforms for policy management and claims, reflecting a growing preference for autonomy. This digital focus complements their established network of agents and brokers who provide crucial personalized advice, especially for complex insurance needs.

For corporate clients, dedicated account managers are key, offering tailored risk management and sustainability solutions. This high-touch approach contributed to a notable increase in client retention within this segment in 2024. Additionally, accessible customer service centers and hotlines remain vital for immediate support and issue resolution, ensuring a human element remains central to customer care.

UNIQA also cultivates loyalty through community engagement and rewards programs. Their 2024 initiatives included sponsoring local events and enhancing tiered loyalty benefits, fostering a stronger sense of belonging among policyholders.

UNIQA leverages bancassurance partnerships to access a broad customer base through banks' established networks. This strategy is particularly effective for life and savings products, integrating insurance offerings with financial advisory services. In 2024, UNIQA continued to strengthen these alliances, recognizing the significant distribution advantage they provide.

UNIQA utilizes a multi-channel approach, including direct sales forces, independent brokers, bancassurance partnerships, and digital platforms. These channels are designed to reach diverse customer segments, from individuals seeking tailored advice to those preferring self-service online. In 2024, UNIQA reported that digital channels accounted for over 60% of new policy initiations, highlighting the growing importance of online engagement.

Large corporations and industrial clients represent a crucial customer segment for UNIQA Insurance Group, characterized by their intricate and often highly specialized insurance requirements. These businesses typically seek comprehensive coverage spanning property damage, broad liability protection, professional indemnity, and robust employee benefits packages. UNIQA addresses these needs by offering tailored risk transfer solutions and expert advisory services, including guidance on integrating sustainability into their insurance strategies.

In 2024, UNIQA continued to focus on this segment, recognizing the significant potential for specialized product development and long-term partnerships. For instance, within the industrial sector, the demand for coverage related to supply chain disruptions and cyber risks remained exceptionally high, with premiums in these specialized areas seeing notable growth throughout the year. UNIQA's commitment to providing sophisticated risk assessment and dedicated account management is paramount for securing and retaining these valuable clients.

Beyond individual and business clients, UNIQA also serves specific niche segments requiring specialized insurance. These include partners who distribute UNIQA products, such as banks or automotive manufacturers, and also cater to public sector entities and associations needing group coverage.

In 2024, the trend of embedded insurance, where insurance is offered as part of another product or service, continued to grow, particularly within partnerships. This strategy allows UNIQA to reach new customer groups efficiently and provide convenience.

UNIQA's strategy also involves engaging with affinity groups and professional associations, offering tailored insurance packages that meet the unique needs of their members. This approach fosters loyalty and expands market penetration within specific communities.

UNIQA Insurance Group invests significantly in marketing and sales to attract and keep customers. This includes spending on advertising, brand building, online campaigns, and sales collateral.

These expenditures are crucial for staying visible in the market and increasing premium income. For instance, in 2023, UNIQA reported a significant portion of its operating expenses allocated to distribution and marketing efforts, which are directly tied to their customer acquisition strategies.

Efficiently managing these marketing budgets is essential for achieving growth targets, such as UNIQA's aim for 5% annual premium growth, by ensuring a strong return on investment for customer acquisition.

UNIQA's cost structure is heavily influenced by claims and benefit payments, which are the core payouts to policyholders. In 2024, insurance service expenses, primarily these payouts, rose to €5,900.4 million, an increase of 11.5%.

Personnel costs are another major expense, reflecting UNIQA's substantial investment in its workforce and sales network. In 2023, these costs amounted to €1.7 billion, supporting over 21,000 employees and partners.

Marketing and sales expenditures, along with significant investments in IT infrastructure and digital transformation, are crucial for customer acquisition and operational efficiency. The administrative cost ratio for 2024 was 15.9%, underscoring the costs associated with regulatory compliance and general operations.

Beyond core insurance premiums, UNIQA Insurance Group likely diversifies its income through various fees and commissions. These can include administrative charges for policy management, penalties for late payments, and revenue generated from selling ancillary services or acting as an intermediary for other financial products.

While premiums form the bulk of revenue, these supplementary income streams, though individually smaller, collectively contribute to UNIQA's financial stability and profitability. For instance, in 2024, the insurance sector globally saw continued growth in fee-based income as companies sought to broaden their revenue sources beyond traditional underwriting.

UNIQA Insurance Group's revenue streams are primarily built upon insurance premiums, investment income, and fees. In 2024, premiums reached approximately €7.8 billion, showing a strong 9.1% increase, with first-quarter 2025 premiums climbing 13.2% to €2,472.5 million.

Investment income, crucial for profitability, yielded €749.7 million in 2024, though market volatility led to €108.8 million in Q1 2025. The group also generates revenue from asset management fees on investment-linked products and commissions from reinsurance ceded.