Group Annual Report 2022

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More success: The VIG 25 strategic programme

The VIG 25 strategic programme sets down its goals for 2025. More efficiency, more customer proximity and more value added prepare the ground for more sustainable success.

VIG 25 – simply explained

The VIG 25 strategic programme was developed for the period from 2021 to 2025. Current trends and developments and their effects on the insurance industry have led to clear requirements for the Group: further strengthening sustainability as an integral part and foundation of the business model, promoting greater efficiency and productivity supported by digitalisation, developing new ways to approach and retain customers and promoting a general understanding of risk provisions. The business model is therefore being optimised, enhanced and expanded through targeted activities in three strategic focus areas. These will consolidate VIG’s sustainable success and help achieve its strategic objectives. VIG launched a continuing programme during the reporting period to achieve the requirement of further strengthening sustainability as an integral part of the business model. In collaboration with various experts from VIG Holding and all Group company CEOs and in consideration of special local requirements, we are drawing up a Group-wide sustainability programme in conjunction with VIG 25 that sets out objectives and measures. We aim to finalise this sustainability programme in 2023.

A world undergoing radical change

An analysis of the most important trends and developments and their effects on the insurance industry was the starting point for the new strategic programme.

The requirements

The analysis revealed a number of basic requirements that the Group must satisfy in order to successfully achieve sustainable development.

  • Further strengthening sustainability as an integral part and foundation of the business model
  • Further increasing the efficiency and productivity of the operating business thereby continuing and intensifying the associated digital transformation
  • Developing new ways to approach and retain customers in order to respond to changing consumer expectations and behaviours
  • Promoting consumer understanding of the importance of risk provisions

Strategic focus areas in three horizons

In response to the trends and requirements, the VIG Group will optimise, enhance and expand its business model through targeted activities in three strategic focus areas and thereby ensuring more efficiency, more customer proximity and more value added.

More efficiency

Optimise the business model by increasing productivity and efficiency

  • Process simplification and automation
  • Exchange and implement best practice examples
  • Further optimise underwriting and pricing

More customer proximity

Enhance the business model with new ways to approach customers and by enriching the product range with services that provide additional value for customers

  • Increase brand visibility and the attractiveness of products
  • Increased use of a hybrid distribution approach that combines personal and digital contact

More value added

Expand the business model and value chain beyond the insurance business

  • Focus on asset management and the pension fund business
  • Establish ecosystems
  • Promote awareness of precaution and risk protection