PZU begins to feel the cost of losing its clients

The insurer wants to reform its sales system and customers' service, which would hopefully lead to increasing its revenues from insurance policies. "According to our sources, the property insurance market, after several years of stagnation, will begin to grow at several per cent a year. We want not only to take part in this growth, but also to have an active influence on it," said Ryszard Bociong, a member of PZU's management board. "To achieve this, we must increase sales revenues and improve our effectiveness by lowering costs," he added. PZU also wants to lower its operational costs. The company is planning to centralize its compensations payment system. In two years time clients will be able to report damages over the phone and the decisions on the level of compensation would be taken in one place. He declined to reveal how much he thought this would save the company. (Parkiet, p. 8) A.F.