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Actuarial Practice

VIG Bancassurances

1. Strategic objectives

  • Steering of bancassurance activities with focus on the strategic cooperation with ERSTE Group. The aim is to position insurances as a customer-binding instrument to reach the highest turnover and profitability for VIG, greatest customer satisfaction and revenue for the banking partner and the best service quality for the client.

2. Core responsibilites

Creation of the best framework of the banking cooperation in order to

  • increase sales and profitability for VIG
  • strengthening revenues for the banking partner
  • raising the customer satisfaction trough highest service quality for the clients
  • optimizing the support for sales and motivation of the banking partner's employees

3. Day-to-day operations

  • Monitoring of the existing cooperation
  • Comparison of target achievements
  • Sharing of Know-How between the countries
  • Regular know-how exchange with the bank
  • Ovservation of digital solutions in the field of bancassurance
  • Competitor analyses


Key qualifications

  • Internationality
  • Knowledge about bancassurance national and international
  • Assertiveness in reaching the own goals and those of the company
  • A personality with team spirit, service orientation, open mindedness and communication skills
  • Interest in Eastern Europe
  • Excellent knowledge of German and English

Harald Londer, VIG Bancassurances

"Success is on the side of those insurers, who will accompany the great structural changes of banks the best."

VIG Actuarial Services

1. Strategic objectives

  • The focus is on profitability analysis and evaluation of risks, such as underwriting-, reserving-, or interest rate risks. This happens in the context of value based management, for the purpose of regulatory requirements, and for the benefit of clients and investors.   

2. Core responsibilities

  • Compiling economic analyses and company valuations for VIG
  • Formulating best practice standards for the Group’s actuaries  

3. Day-to-day operations

  • Evaluating the insurance portfolio
  • Managing cooperation between the Group’s actuaries

(c) Video: Whatchado

Key qualifications

  • Mathematics degree
  • Knowledge of financial and actuarial mathematics
  • Very good knowledge of Excel
  • Experience of modelling using Prophet
  • Good written and spoken English
  • Knowledge of German an advantage 
  • Good communication and team working skills

Alexandru Spiridion, VIG Actuarial Services:

"I started out as a Junior Actuary at Group company BCR Non-life in Romania. After two years I participated in a mobility program, which took me to Group headquarters in Vienna for nine months. After I returned I was promoted to Actuarial Expert. That was a very important step in the development of my career. In 2011 I applied to VIG in Vienna through the internal job market. In addition to the annual actuarial reports, we work on projects such as Solvency II and drawing up the Embedded Value report. At VIG it’s not just the numbers that matter most to me, but my colleagues too. It’s the people who work at the Group that make VIG what it is. I have always had the full support of my team in Romania and Vienna. And in my eyes, that’s what makes VIG such an attractive employer.” 

(c) picture: Dialogschmiede

VIG Corporate and Large Customer Business

1. Strategic objectives

  • Informing customers of VIG’s outstanding expertise and constantly expanding product range
  • Acting as an expert partner for major international companies facing risks in CEE  

2. Core responsibilities

  • Promoting the international corporate business in all countries where VIG has a presence
  • Drafting insurance contracts with a view to maximising customer focus and safeguarding the financial interests of both the client and VIG  

3. Day-to-day operations

  • Developing and drafting insurance contracts tailored to the needs of corporate customers
  • Analysing and assessing the complex risks faced by individual customers
  • Extensive service to (international) claims clients

 

 

Josef Aigner:

"Communication has to do with understanding."

 

(c) Video: Whatchado

Katarzyna Poremba, Country Management Corporate Business:

“My career at VIG started in 1998 with Wiener Städtische. I was born in Poland and since coming to the Group I have been responsible for international matters and the acquisition and growth of our Polish subsidiaries. In early 2000 I took the opportunity to work abroad and joined the managing board of the newly established Polish life insurer Vienna Life. It was a greenfield operation, so as a board member and later as CEO I was in charge of building up the company from scratch. After coming back from maternity leave I returned to the Vienna head office where I gained valuable experience in international actuarial services before moving to Corporate and Large Business, which gave me hands-on experience of dealing directly with clients. I became head of Country Management in the department in 2007. My team is the central point of contact for quality management and for promoting and expanding the corporate business throughout the CEE market.
At VIG my work takes me to lots of countries outside Austria. Moving between different cultures allows me to find out more about my partners’ international business practices and about the lifestyle in different countries.”  (c) picture: Dialogschmiede

Key qualifications

  • Underwriting / Claims experience with an insurance company or broker, preferably in an international environment
  • Extensive experience of underwriting with an international non-life or industrial insurer
  • Highly skilled at designing and implementing complex international programmes
  • Strong customer and broker focus, with a view to potentially assuming key account management responsibilities
  • Experience of working with risk managers on technical risk assessments
  • Interest in developments in the CEE economy
  • Willingness to travel
  • Strong sense of initiative and willingness to take on responsibility in relation to the development of international structures
  • Excellent written and spoken English
  • Knowledge of German and of one Eastern European language an advantage

VIG Performance Management Motor Vehicle Insurance

1. Strategic objectives

  • Boosting the profitability of VIG's motor insurance segment
  • Managing developments in the motor insurance segment
  • Promoting the Group-wide transfer of motor vehicle insurance expertise

2. Core responsibilities

  • Analysing, collecting information on and communicating best practices within VIG
  • Implementing projects aimed at enhancing motor insurance profitability as required

3. Day-to-day operations

  • Reporting on the latest developments in the motor insurance segment in VIG’s markets and in the Group companies
  • Implementing key performance indicators and ensuring the necessary data quality
  • Supporting cross-border activities such as knowledge transfer, and working with partners of the employee benefit scheme
  • Group-wide liaison for all motor vehicle insurance-related matters 

Key qualifications

  • Economics or technology degree
  • Excellent analytical skills and good with figures
  • Ability to work in teams, and outstanding interpersonal and communication skills
  • Willingness to travel
  • Excellent written and spoken English
  • Experience of working in CEE and knowledge of Eastern European languages an advantage
  • Excellent working knowledge of Excel, Access and SQL preferred

VIG Performance Management Personal Insurance

1. Strategic goal of the department

  • Observation and analysis of trends in personal insurance
  • Ensuring planned profits and meeting of target benchmarks
  • Ensuring the quality of data and recognition of commercial risks

2. Core duties

  • Benchmarking of VIG companies and their results through standardized reporting
  • Expansion of VIG internal cross-information on products, sales topics and profit drivers
  • Strategic profit targets, product projects and accompanying measures are managed through KPI-based analyses and international projects

3. Daily business

  • Quarterly reports on the development of results in life, health and accident insurance
  • Monitoring of profit figures and special analysis of KPI in life insurance
  • Company analysis and compiling of SWOT-profiles 
  • Compiling of „ad hoc“ analysis for the executive board 
  • Organization of international product workshops
  • Maintenance and development of the product information platform

Key qualifications

  • Economics or mathematics / actuarial mathematics degree
  • Essential: basic professional experience in controlling and/or personal insurance
  • Good analytical skills
  • Team player and able to handle a heavy workload
  • Excellent written and spoken English
  • Knowledge of one or more Eastern European languages an advantage
  • Very good knowledge of MS Office  

Gerhard Kalcik, Performance Management Personal Insurance

“An interesting and exciting range of tasks in which we are dealing with about 30 VIG companies.
Personal insurance is all about people – which is why we are trying to understand as much as possible about the countries, their cultures and different social systems.”

VIG Reinsurance

1. Strategic objectives

  • Minimising and diversifying risk
  • Communicating and monitoring the Group’s reinsurance strategy  

2. Core responsibilities

  • Providing protection against large claims, in particular following natural disasters
  • Developing Group-wide reinsurance programmes and standards
  • Coordinating reinsurance-related activities throughout the Group  

3. Day-to-day operations

  • Ensuring a uniform corporate image
  • Placing and managing reinsurance contracts
  • Developing and assessing compliance with reinsurance security standards

Key qualifications

  • Mathematics, business or IT degree
  • Excellent written and spoken Englis
  • Knowledge of one Eastern European language an advantage
  • Good MS Office skills
  • Basic knowledge of Solvency II an advantage
  • High degree of commitment and personal initiative  

Pavel Andreev, VIG Reinsurance:

“I came across VIG by chance in 2005. At this point the Group’s CEE expansion was going ahead at full pace, and people with Eastern European language skills were in demand. In light of my Russian skills I was made Country Manager for the Russian-speaking countries. By 2008 I had become the head of the country management team. Our two main tasks are coordinating reinsurance matters at Group level and coordinating processes within VIG as an operational entity. We monitor the performance of individual Group companies and develop custom reinsurance solutions based on our analysis. Every day my work brings me into contact with Eastern Europe. I really enjoy working in this particular region. I am an Eastern European myself. VIG is at home in CEE and that’s something I am able to identify with strongly. The company draws on each individual´s particular strengths, and on top of that there are opportunities to build on soft skills." (c) Picture: Dialogschmiede