CIG Pannonia Life Insurance Plc. has issued a statement informing its investors and other participants at the Budapest Stock Exchange that it has taken and implemented fast and effective measures to compensate for the effects of the emergency situation caused by the COVID-19 epidemic.
At the beginning of the epidemic in Hungary, the management prepared a detailed risk analysis of the company's operations elements that may be affected by the expected epidemiological restrictions, furthermore developed a plan on how the company and its employees can work safely – even in case of a complete epidemic quarantine (lockdown). In accordance with the agreed plan, the management has taken the following measures.
Protecting the health of customers and employees
The company has informed its clients that they can handle their insurance matters via call center or email, as well as through their personal online client portal. "The rapid transition went smoothly, due to the digital developments implemented at our Company in recent years," the statement says.
CIG also provided the opportunity for its central office employees to work from home. For this, the necessary technical and IT security conditions were set up.
The company kept its sales agents informed about epidemiological restrictions, hygiene, curfew and social distancing rules, which have been strictly followed ever since.
Maintaining business continuity and sales support
CIG introduced customer authentication via video chat - among the first in the domestic insurance market. "With this, we have entirely digitized the conclusion of insurance contracts. This allows the insurer’s sales agents to continue working even during the epidemic. The most important innovation of the service is that under the Civil Code and the legislation on distance selling, clients make contractual statements on video chat instead of the traditional signature, thus they are legally equivalent to contracts signed on paper. As there is no personal meeting between clients and sales agents, contracting is completely safe from a health point of view," the document points out.
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