PZU insurer to soon begin process of transition to new operating model

Listed insurance group PZU has been strengthened in terms of personnel and competences in the last three months, is working on a new strategy and will soon start the process of transitioning to a new operating model, the insurer said on Thursday.

"We will soon start the process of transitioning to an operating model based on business units, this is areas focused comprehensively on given customer groups and parts of the business. This model will be implemented evolutionarily, but will be revolutionary from the point of view of PZU's corporate culture," said PZU CEO Artur Olech.

The CEO asserted that this model "will make the organisation strongly focused on creating value for customers, increase decision-making and responsiveness to market needs and trends, and make the responsibility of individuals for results clearer".

The CEO reported that the last three months have seen a strengthening of the group's personnel and competences.

"This applies to both the insurance business and the banking area, where top managers with an established market position have been elected to the boards through professional competitions. These changes also will significantly translate into the possibility of achieving synergies within the PZU Group," said the CEO.

He reported that work is currently underway on a new group strategy for 2025-2027, with a planned completion date of Q4, 2024.

The strategy plans to strengthen the foundations of the core business and maximise the synergies of the entities that constitute the PZU Group.

seb/ nl/