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In Romania, Gothaer Asigurari Reasigurari is delivering ‘insurance & a little extra’

About Gothaer Group in Germany

 

The Gothaer Group is one of the largest insurance groups in Germany and one of the first nationwide mutual insurers in Germany with almost 200 years of insurance expertise and strong focus on the individual needs of its clients and customers. Gothaer Versicherungsbank VVaG is the Gothaer Group parent-company, under whose umbrella act all other entities in the group. The Gothaer Group is offering non-life, life and health insurance products by developing intelligent and flexible risk and financial concepts. Simple, yet with a powerful positioning: with flexible products and services that go beyond straight insurance, Gothaer is a particularly service-driven operator, individual problem solver and an efficient quick-response enterprise.

Gothaer is a real success story with over 3.5 million insured members and gross premium income of 4.45 billion Euro (more than double the entire Romanian insurance market) and assets in excess of 23 billion Euro.

In 2011, Gothaer began its expansion in Central and Eastern European (in short: CEE) markets through the acquisition of the Polish Insurer PTU (Polskie Towarzystwo Ubezpieczen S.A.), now Gothaer TU. Gothaer is also opening to European markets through its involvement in the European insurance association Eurapco.

In 2012, Gothaer took a second step in its expansion into CEE markets, in Romania, by acquiring the majority of shares of Platinum Asigurari Reasigurari, renamed into Gothaer Asigurari Reasigurari in 2013. To date, the Gothaer Group holds 100 per cent shares in the Romanian subsidiary.

 

‘Insurance & a little extra’ in Romania

 

The activity of Gothaer Asigurari Reasigurari on the Romanian insurance market is guided by a series of values and principles that reflect the professional standards of the German shareholder: with the aim to become the preferred option for the clients when it comes to insurance, permanently maintaining high quality standards for the provided products and services.

Having as core values the security of clients, trust, passion, flexibility, innovation and, last, but not least, the group’s long lasting experience, Gothaer Asigurari Reasigurari is privileged in benefiting from the heritage and support of the Gothaer Group.

 

Company’s mission, echoed in the positioning

 

The aim to become one of the best players in the Romanian insurance market – the most modern, best performing insurance company -, and with a quality-oriented strategy, as well as the focus on dedicated, personalized and flexible products and services for the clients are reflected in our positioning.

The development of the company on the local insurance market is similar to ‘start-up’ settings. Given the size of the company when Gothaer entered into its shareholding, the path of the company in recent, as well as future years, is marked by consistent growth and start-up investments in the development of the company.

Thus, after just one year of activity, in 2013, Gothaer Asigurari Reasigurari achieved an increase of over 75% in GWP (from EUR 8.5 million to EUR 14.8 million), doubled the number of clients (from 25,000 to 52,000) and reported an increase of 140% in portfolio, up to 98,000 insurance policies.

Gothaer Group’s support was very important during the first steps, and the investments made in the first year contributed greatly to Gothaer Asigurari Reasigurari company’s financial stability and to strengthening the grounds on which the company develops.

In 2014, the company continued the quality- centered strategy and again reported portfolio growth: the gross written premiums increased by 25% last year, up to RON 84.3 million (non-audited preliminary data).

The mission to protect and improve the clients and their families life, as well as their business, is visible in the company’s positioning, that of a solid, trustworthy insurance company. The trust of Gothaer’s clients remains a top priority for the company: in 2014 over 8,000 files were solved and the claims paid to the clients reached RON 62.5 million.

 

Company’s values, seen through the eyes of the audience

 

The efforts for maintaining an excellent relationship with the clients are reflected in the public’s perception. Gothaer Asigurari Reasigurari is viewed as a modern company by the customers, showed a GfK Romania study, which aimed to evaluate Gothaer Asigurari Reasigurari’s brand and communication activities. According to the results, more than a third of the Romanians who are familiar with Gothaer’s brand take the company into consideration when choosing their insurer for a general insurance policy.

The perception of the target audience of Gothaer Asigurari Reasigurari is mainly based on three pillars: modern company, products fit to people’s needs and effective communication, according to the same study. For example, 37% of respondents consider that Gothaer is a modern company that offers products customized to people needs. Overall, the analysis showed an increased advertising awareness compared to 2013 for our company, while all the other measured brands reported a steady or a decreasing performance. Compared to 2013, Gothaer held a steady position regarding brand image in 2014. The study targeted men and women, aged 30 to 55, with medium and high education, living in large cities. The working sample included 500 interviews conducted between the 15th and the 21st of April, 2014.

 

The vision, reflected in the received awards

 

Gothaer’s activity on the Romanian insurance market was also formally acknowledged in 2014 by a well-known Romanian insurance press group. Thus, during the 14th edition of the Romanian Insurance Market Awards Gala, Gothaer Asigurari Reasigurari received “The Dynamism Award” for its activity on the local market during the previous year. The award reflected the company’s dynamic growth, its flexible approach and its overall effervescent activity.

 

Insurance products and services, the best visit card

 

Gothaer Asigurari reasigurari’s legacy in the insurance industry is built upon a client centric philosophy – offering tailor-made, high quality services that go beyond just insurance, to which dedication, passion and long-term commitment is added. The company’s spectrum of insurances covers both retail and corporate areas. That is why Gothaer Asigurari Reasigurari slogan is: “With Gothaer, you are more insured than you think”.

 

The products are available via local offices in Bucharest and other major cities in Romania, as well as via independent brokers and agents, but also online, via www.gothaer.ro.

 

 

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