The FINANCIAL — GPI Holding Vienna Insurance Group has launched online sales. One can buy any particular desired insurance product without having to leave the office, even directly from the home. After submitting an order on www.gpih.ge online sales a company representative is sent to the specified address to assist the clients in choosing the right insurance packet and in signing the contract.
“By launching online sales the company has once again proved that GPI Holding Vienna Insurance Group products are simple and easily accessible services. We offer a diversified portfolio that covers a wide range of consumers: small business owners as well as low income families. Online sales is not the last news about the company as lots of surprises are still ahead,” declared Zurab Chikhladze, Head of GPI Holding Vienna Insurance Group Online Sales Department.
GPI Holding Vienna Insurance Group is the first and the only company offering online sales of insurance packets in Georgia.
“I’m quite confident about the success of online sales as dozens of people daily are getting interested in our new product,” Tinatin Stamobilishvili, PR manager of GPI Holding Vienna Insurance Group, told The FINANCIAL.
GPI Holding Vienna Insurance Group was founded in 2001 as the first private pension fund in Georgia. The company’s priority is to develop social insurance in the country. For the last few years GPI Holding, the sister company of one of Europe’s largest insurance companies- Vienna Insurance Group has remained leader of the market in terms of social insurance offers.
Vienna Insurance Group (VIG), founded in 1824, is an Austrian insurance company located in Vienna. The group runs insurance activities in several Central European countries with major markets in the Czech Republic, Austria, Romania, Bulgaria, Slovakia, Croatia and Serbia. It is market leader in its home country Austria with strong positions in property as well as in life insurance and a general market share of 23% (2006). According to 2007 statistics, the company’s annual income from insurance exceeds EUR 7 billion. Today 40 companies are members of VIG in 20 countries. VIG is rated AA+ by standard & Poors ratings.
People have already started taking the opportunity to enjoy the benefits offered by online sales.
“I always wanted to get insured but never found enough time to drive to the company’s office. I would definitely say that online sales was the best offer I could dream of,” Tamila Gotsiridze, housewife.
“Online sales is a comfortable product as you get served even at the office,” Lia Skhirtladze, teacher.
“Being a construction worker I was always eager to buy an insurance packet and my friend advised me to try GPI Holding VIG online sales. In just a few minutes without even having to leave my job I was able to get insured,” David Ksovreli, worker.
The two other leading insurance companies BCI Aldagi and Imedi L do not regard online sales to be much in demand in Georgia at present.
“We have activated online services at our family.ge website where people can calculate the value of the particular products they’d like to buy. Though, in general, I don’t think online sales are much demanded in Georgia at this point,” Maiko Ivchenko, BCI Aldagi PR Manager, told The FINANCIAL.
Since the merger of the two most prominent players in the market in 2006, BCI and Aldagi insurance companies, today Aldagi-BCI claims the ultimate market leadership.
“Imedi L will offer online sales in about six months. Although I would say that this approach is not quite popular enough at this point and couldn’t result in much increased financial efficiency of the company. The online sale of insurance products is more about raising branding awareness of the company,” Giorgi Iashvili, Head of the Sales Department of Imedi L International, told The FINANCIAL.
In March 2007 The European Bank of Reconstruction and Development (EBRD) acquired 34 percent of shares in a leading Georgian insurance company, Imedi L. EBRD, whose investments in Georgia have until lately been limited to its banking sector, invested in an insurance company.
Insurance Company Imedi L International Ltd was established in 1995. From September 1998 the company’s main shareholder was ESG Re. We are the company with the largest charter capital in Georgia – of almost USD 2,000,000. This money is in cash in a number of banks in Georgia.
As of November 2004 the company became Joint Stock.
As of 2006 a main change began in the shareholders and managing structure.
Shareholders: 51% of the shares – Meta LLC; 34% – EBRD; 15 % – Imedi Holding LTD.
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