Agenda 2020: What we are doing TODAY to make ourselves fit for THE FUTURE

In addition to addressing the challenges currently facing the insurance industry, VIG’s strategic Agenda 2020 work programme also focuses on long-term social and technological trends. The goal is to take advantage of the opportunities offered by the changing world.

Targets for 2020

Result before taxes

EUR 530 – 550 million


EUR 10.2 billion

Combined ratio

around 95%

Business model optimisation (Icon) 1. Business model optimisation

The following measures help increase cost efficiency and reduce the combined ratio.

Shared services and mergers

Combining back office functions in a country or region creates cost benefits. Group companies are also merged if the synergies of a merger outweigh the benefits of a diversified market presence in the long term.

Optimising the profitability of motor insurance

Innovative methods for setting prices, e.g. using advanced analytics, increase income in the motor line of business. Targeted measures for underwriting and risk selection and a new foreign claims team improve profitability.


A Group-wide best practice approach uses targeted anti-fraud measures to prevent unjustified claims.

Closed file review

A systematic review of closed claims identifies weak points in the claims handling process and prevents future overpayments.

Ensuring future viability (Icon) 2. Ensuring future viability

VIG uses the following measures to optimally take advantage of the opportunities created by demographic and social trends and technological innovations.

Expanding lines of business

VIG is promoting highly promising areas, such as:

  • Bank distribution
  • Health insurance
  • Reinsurance
  • SMEs
  • Assistance

The insurance company of the future

The rapid pace of technological change requires continuous reassessment and redesign of insurance solutions. Traditional motor insurance, for example, could change into a solution for mobility risks due to autonomous vehicles, and traditional life insurance could change into a comprehensive tool for future provision. For VIG’s product design, this means: protect against risks and offer added value.


By means of its digital vision and centralised process for developing local transformation plans, VIG assists its Group companies in the digital transformation of their business models. The customer experience is improved and processes are automated, when reasonable, based on the motto “anywhere, anytime, any way”. A Group-wide culture of innovation is helping VIG to better address its challenges.


The expansion of assistance within the Group adds appropriate additional services to the traditional business model of insurance products. They also form a basis for future digital extensions, thereby creating competitive advantages.

Organisation and cooperation (Icon) 3. Organisation and cooperation

Transparent rules, clear targets, an effective management model and an efficient infrastructure for exchanging best practices and innovations ensure efficient, effective collaboration within the Group, thereby ensuring the future success of Vienna Insurance Group.