LAUNCH OF MISSION EVOLVE - Always one step ahead
May 10 2019
May 10 2019
The Board of Directors of Unipol Gruppo S.p.A, which met yesterday under the chairmanship of Pierluigi Stefanini, approved the “MISSION EVOLVE - Always one step ahead” Strategic Plan for the 2019-2021 three-year period and the consolidated results as at 31 March 2019. The Strategic Plan aims to reinforce Unipol’s leadership over the next three years, laying the groundwork to consolidate its pre-eminence even beyond the life span of the plan.
MISSION EVOLVE – Direttrici strategiche
Using the distinctive assets as leverage, the “MISSION EVOLVE - Always one step ahead” Plan is based on five strategic guidelines:
1. Technical excellence evolution
- Combined Motor Ratio of 92.5%
- Combined Non-Motor Ratio of 90%
- Present Value Future Profit Margin of 3%
In the challenging competitive environment of the Motor business, the Unipol Group has set a target of achieving a Motor Combined Ratio2 of 92.5% by 2021, up by about 2.4 percentage points from 2018, also thanks to telematics and data.
In the Non-Motor segment, the Unipol Group intends to confirm its leadership thanks to its underwriting ability and the quality of the service offered, with a target of achieving a Non-Motor Combined Ratio3 of 90.0% in 2021, up by about 3.8 percentage points from 2018.
In the Life business, the Unipol Group intends to transcend traditional product-based logic by taking an integrated approach to developing products and services in the Life and Welfare areas to meet the growing protection and security needs of Italians.
2. Distribution Excellence Evolution
- Non-Life premium income UnipolSai: €7.3bn
- Life income UnipolSai: €3.4bn
- UniSalute income:> €500m
- Non-Life Premium Income Bancassurance (Arca and Incontra) and Partnership (Linear): €680m
- Bancassurance Life Income (Arca): €1.6bn
With respect to distribution, the Unipol Group intends to confirm its pre-eminence as the leading Italian agency network in the Group strategy.
Unipol also intends to attain a distinctive position in the development of the Bancassurance and Partnership channels.
3. Beyond Insurance
2021 ecosystem target:
- 5 million UniBoxes installed
- 60,000 cars on long-term leases
- >250,000 customers who use Apps for payments
- 3,000 companies on the Flexible Benefit platform
- 300,000 cards for healthcare service brokerage
- 5 million property units for which technological solutions can be developed
Unipol intends to establish itself as a reference point for requirements in the Mobility, Welfare and Property ecosystems, offering customers professional competence and integrated solutions.
4. People and Technology
- 300 new hires
- Reduction of average age by 2 years
- +10% of premium income per employee
- > €200m in IT investments
Unipol intends to continue to invest in people and technology to speed up its evolution.
5. Shared values and sustainable development
- 30% of products with social and environmental impact
- €600m in investments for the Sustainable Development Goals (SDGs)
In 2019, Unipol was the Italian leader in terms of reputation in the financial sector for the third year in a row; it intends to continue creating shared value with its stakeholders to help achieve the UN 2030 Agenda sustainable development goals.