UNIQA devises formula for success

With an expanding client base and regional and international recognition, Serbia’s fastest-growing insurance company has many reasons to celebrate

In only five years of operation, UNIQA Insurance Serbia has managed to become one of the five leading companies in the insurance industry, achieving the highest growth margin among all of the insurance companies in Serbia. Half a decade of constant progress and high-growth, first-class quality in operations, a commitment to servicing clients and efficiency in quick claims payment, has resulted in UNIQA being declared the Best Insurance Company in Serbia, 2012 by World Finance – a sentiment confirmed by more than 1.2 million satisfied clients.

UNIQA Insurance Serbia belongs to one of the leading groups, the Austrian UNIQA Group, which operates in 20 markets of Central and Eastern Europe, serving 18 million clients. During its five years in operation more than €50m have been invested into the company and today it operates from 29 branch offices with 700 highly-qualified, customer-oriented employees.

Employees have contributed a great deal to the success of the company with their constant effort and professionalism; their creative energy and expert knowledge are the main drivers for innovations within the company. A commitment to clearly defined values are the virtue of UNIQA Insurance and special attention is paid to its employees through continuous education, motivation and the promotion of organisational culture. Experts from the company are guest lecturers at numerous faculties both at home and abroad, something we are particularly proud of.

Innovative services
The basic prerequisites of the business operations are: the wellbeing of clients; an innovative approach; the introduction of new communication channels, products and services which are adjusted to clients’ needs; accuracy and speed; consulting, and partnership. Following the needs of its current and future clients, UNIQA is constantly investing in the improvement of products and services. Besides numerous services and solutions that distinguish it from the competition, this is the only insurance company that has a separately developed department for cooperation with banks and has recently expanded its portfolio by adding 20 new insurance programmes.

We always pay special attention to improving customer relationships. A personal relationship, the presentation of new products, the acceptance of clients’ suggestions and opinions, respect, speed, expeditiousness, a focus on safety, as well as the simplicity in issuing policies, are what clients recognise in a good insurance company and are the reasons why they choose UNIQA as their provider.

UNIQA is a strong brand recognised by clients as a leader in innovation. Numerous exclusive and unique services are available to our clients, such as MeteoUNIQA, a free-of-charge SMS warning system for severe weather, the UNIQA web shop, through which travel insurance policies may be bought abroad, as well as household insurance policies. Sales agents have the ability to offer a personalised service centre by carrying a mobile office packed into a small suitcase. UNIQA also offers free-of-charge delivery on policies to relevant addresses, road assistance to all HULL insurance clients, and the Med and UNIQA contact centre is available to clients 24-hours a day.

A plan for the future
In addition to being a leader in innovation, UNIQA is also a leader in the field of social responsibility. Being aware that the success of our company is reflected by its social enterprise, during the last five years UNIQA has supported numerous humanitarian projects and actions, cooperated with UNICEF on their ‘School without violence’ projects, helped numerous health institutions, and has done many other things in support of the local community.

Our successful business strategy and the extraordinary treatment of clients have been recognised at a regional level and contributed to the company receiving the prize Regional Business Partner 2011, which is awarded to companies that have achieved remarkable business results, guided by high professional standards and firm ethical principles.

UNIQA’s plan for the future is to continue the trend of the last few years and to grow more than the average insurance market growth in Serbia. Our planned growth shall be based on the portfolio growth and the focus shall be on all of our business lines with a special emphasis on life insurance and MedUNIQA voluntary health insurance, which is something completely new in Serbia.

For more information: www.uniqa.rs; email: info@uniqa.rs; tel: 00381 11 20 24 100

Tags:
Comments: 0
Join the discussion below

The May – June 2013 Issue

Highest corporate tax
rates in Europe

European countries are scrambling to raise every last penny of funds through taxes. But some countries may have gone too far...

Belgium

Though all business taxes in Belgium can be paid online with little effort and preparation, the rates are still sky-high at 57.7 percent, including a staggering 50.8 percent total rate on profits only in social security contributions.

Belarus

In Belarus, a company spends up to 338 hours annually preparing for and paying ten different taxes and duties. The total tax rate has incredibly been lowered to 60.7 percent, from 117.5 percent in 2008.

France

A company in France pays seven different taxes and duties, the sum of which can amount to 65.7 percent of profits; though President François Hollande has announced a wave of business tax rate cuts coming up.

Estonia

A business in Estonia pays 67.3 percent of profits in tax, 37.2 percent exclusively in social security contributions. The country has gone against the grain in Europe by raising businesses taxes from 48.6 percent in 2008 to the current rates.

Italy

While corporate income tax (IRES) in Italy is limited to 38 percent of taxable profit, a company operating in Italy can expect to pay 14 other taxes and duties, including social security contributions, bringing their total payable tax to 68.7 percent of profits, according to the World Bank.

Norway

Norway taxes motor fuels twice, with a road use tax and a CO2 emissions tax. Combined with strikes in the energy sector that have curbed output, the price of gas at a local pump has soared to $10.12 per gallon.

Turkey

Though Turkey sits on the Suez Canal and neighbours many oil rich countries, the price of a gallon of average gas clocks in at $9.41 in Turkish pumps, because of a 60 percent share of taxes. 

Israel

Like Turkey, Israel is surrounded by oil-rich neighbours, but drills very little itself. Gas prices are controlled by the government, so about half of the $9.28 per gallon goes to taxes.

Hong Kong

There are few gas stations in Hong Kong, but the ones available charge up to 76 percent more per gallon than mainland China, where the government caps the cost of fuel. A gallon at the pumps will cost around $8.61 on the island.

Netherlands

Expensive labour costs make the Dutch petrol prices the dearest in Europe, at $8.26 per gallon; though the 57 percent tax add-ons don’t help.

The credit crisis

8 February 2007
HSBC warns of subprime mortgage losses

2 April 2007
New Century goes bus

14 September 2007
Wholesale markets have dried up

17 March 2008
Rescue of Bear Stearns

7 September 2008
Rescue of Fannie Mae

15 September 2008
Lehman Brothers file for bankruptcy

3 October 2008
US congress approves $700bn bailout

14 February 2009
$787bn stimulus approved by congress

 

The effects of the current financial crisis are global and irrefutable. With the collapse of Lehman Brothers, the domino effect of irresponsible public monetary policies, huge levels of unsustainable debt, and a deregulated financial sector, has escalated to the point where no corner of the globe has been left untouched.

1973 oil crisis

October 1973
Syria and Egypt launch an attack on Israel on Yom Kippur and set off a twenty day war;

1977
US President Carter creates Department of Energy, which develops the US strategic petroleum reserve

 

The Organisation of Petroleum Exporting Countries (OPEC) used their oil reserves as a weapon with the Arab Oil Embargo against those who supported Israel. By January 1974, world oil prices were four times higher than they were at the start of the crisis, especially in the US, and the shock led to a huge drop in the stock market with NYSE losing $97bn in just six weeks.  The embargo lasted five months, and the effects are still seen today.

German hyperinflation

1922-1923

Hyperinflation
1923 – 1924
Stabilisation

 

The trouble began when Germany missed a repatriation payment, worth about one third of the German deficit in this period. Inflation was already high but by 1923 it was raging. Prices doubled within hours, and by late 1923, it cost 200bn marks to buy a single loaf of bread. People burned money as it was cheaper than buying firewood. Germany eventually regained control of its economy when it introduced the Rentenmark into circulation in 1923, and then the Reichmark in 1924.

The Great Depression

1929-1933
The Great Crash
1934-1939
Recovery and Recession

 

After the decadence of the Roaring Twenties, the 1930s saw the biggest economic slump of all time. The stock market crashed on 29 October 1929, and optimism and decadent living tumbled along with the figures. The GDP fell from $103.6bn in 1929, to $66bn in 1934 and the subsequent years of recovery were the most dramatic in US history.

1907 bankers’ panic

1907
Otto Heinze and his brother Augustus Heinze bought shares of United Copper.

 

The stock market was already cautious over the tight money supply, but the US was thrown into a depression after the stock market fell nearly 50 percent from its peak in 1906. The Heinze brothers thought they could influence market shares but ended up bankrupting lenders that provided the financing to buy the stock. A chain reaction left nine institutions bankrupt. By February 1908, the panic was over and the government created the Federal Reserve system, to prevent banks from exercising too much control over the economy.