VIG's Corporate Business: Diversity Meets Expertise 

How is the Corporate Business organised at Vienna Insurance Group?

More than 150 people work in Corporate Business at our hub in Vienna. The team consists of 19 different nationalities who speak 25 languages and acts as a competence centre for underwriting, claims and international programmes. We liaise closely with all VIG Group companies, brokers, insurers, reinsurers and international partners on a daily basis.

How do you define Corporate Business?

As VIG, we are the leading insurance group in Austria and the CEE region, and this also applies to our corporate business. Vienna Insurance Group serves customers in the corporate business with 36 property insurance companies in the CEE region, Germany, Turkey, Georgia and, since 2019, the Nordics with its own branches in Denmark, Norway and Sweden.

A target group-orientated customer focus is important. Small and medium-sized companies need tried-and-tested and rapid product solutions, while large corporates need customised international and global special solutions.

We define corporate business as the fire, engineering, marine and transport lines as well as liability for large companies. 

What is the size of the VIG's corporate business portfolio? 

The premium volume for 2023 was around EUR 2 billion for corporate business in the entire Group. And that doesn't even include the huge SME segment!

We are present with three brands in Austria - Vienna Insurance Group, Wiener Städtische and DONAU Versicherung - and are the market leader in the corporate business segment. We not only serve Austrian customers, but also customers based in the CEE region, Germany and the Nordics. And we serve them worldwide. Our Corporate Business service group supports Austrian customers in 120 countries worldwide.

Ten countries in the Group currently have international programmes in place. In the VIG region, the network consists of the Group's own companies, which issue a total of around 9,000 policies for international customers each year.

Good coordination is essential, which is why we communicate within the Group using our own digital formats, such as a platform called ‘VIG Globe’, also for claims processing and to guarantee the best possible standard for customers.

This portfolio certainly requires a lot of expertise. How is the exchange of expertise organised within the Group?

In our role as a holding company, we have established various formats for the Group. We founded the VIU Academy - a training programme in the area of corporate business that spans all Group companies - 15 years ago. It is aimed at corporate underwriters and claims managers who want to deepen their insurance expertise. We also organise formats for even more specific knowledge transfer, such as our annual Chief Underwriter & Chief Claims Manager Conference, Cyber Days, Fronting Forums, Renewable Energy & New Technology Events and Cross Selling Workshops. 

Do you use specific communication channels to exchange?

Yes, we do: In addition to personal exchange via the aforementioned training series, workshops and events, we also communicate via our own digital formats. As already mentioned, one example of this is ‘VIG Globe’ for processing international programmes and facultative reinsurance. Internally, we also use a digital collaboration platform that was initiated as part of the CO³ strategic focus to intensify the exchange within the Group.

You have mentioned international programmes earlier – could you please explain how these international programmes work?

Sure! Within the Group, we act as a hub for international corporate business. Thanks to our internal group network and cooperation with global insurance partners, we can theoretically accompany our international customers anywhere in the world. In this case, an international insurance programme is recommended. The international company has a master contract with the VIG insurance company in the country where the company is based, which regulates the details for all locations. We take care of the implementation in the countries and the issuing of local policies. The advantage for customers is that the hub in Vienna gives them a central point of contact that takes care of coordination.

How diverse is VIG’s corporate business?

Our Corporate Business service group is a diversity pioneer in VIG. It serves our Group's national and international corporate customers in Austria, but also performs management and coordination tasks within the Group. Diversity is therefore already deeply rooted in our areas of responsibility. Diversity is also reflected in many other dimensions in the department: 19 nationalities, 25 languages, colleagues between the ages of 20 and 62, different educational backgrounds and a wide range of previous experience in various industries, a ratio of approximately 50% women to men, women and various nationalities in management positions, openness in terms of origin and personal orientation, to name just a few aspects of diversity.

Diversity contributes significantly to understanding and providing the best possible service to different customers in Austria and internationally - we serve our customers in over 120 countries worldwide. The different backgrounds of our colleagues help us to adopt many perspectives and create ideas in order to offer customised solutions and services for our customers' needs. We experience our versatility as a great advantage - it is a valuable asset in business and a personal enrichment for all of us.