In this challenging moment we are very close to customers


Michael Müller, CEO of Baloise Insurance Switzerland, talks about the company’s strategy and business during a time of uncertainties due to the pandemic

In this challenging moment we are very close to customers
In this challenging moment we are very close to customers. Michael Müller states that the Baloise in our canton is investing in human resources. © CdT / Chiara Zocchetti

In this challenging moment we are very close to customers

In this challenging moment we are very close to customers. Michael Müller states that the Baloise in our canton is investing in human resources. © CdT / Chiara Zocchetti

CdT interviewed the CEO of Baloise Insurance Switzerland, Michael Müller in Ticino.

The first half of this year was marked by the coronavirus pandemic. What has been the impact on your business?

The protection of employees and the support of our customers have always been at the heart of our activities. In addition to paying for damages, we have supported customers and the community as a whole with special initiatives and financial aid, such as extended terms of payment for rent and insurance contributions. Baloise Bank SoBa also offered immediate aid for corporate clients in the form of COVID-19 bridging credits. In Ticino, during the lockdown and as a sign of recognition we also distributed vouchers to the scouts in the region who are particularly committed to people in need. In this time, the contact between us has also been very important and thanks to digital means we have managed to stay close - at least in a virtual way. This was very important,

The pandemic has also affected your financial results. What is your opinion on the overall results recorded in this period?

Even if the effects of the COVID-19 pandemic are clearly visible in the results, the operational activity of the Baloise group proves resilient and robust. At group level, we expect a gross amount for damages of up to 200 million francs. After the hedging measures, net losses of around 63 million francs were carried by the group. In this crisis we have been able to help numerous corporate and private customers.

Are there any lessons the insurance world can learn from the pandemic?

The insurance industry will also play an important role in the post Coronavirus era. One goal will have to be to prepare even better for dealing with similar situations in the future. However, this implies that cooperation solutions between public and private institutions will have to be pursued, since individual private insurers alone are unable to bear the risks of future pandemics economically.

What are the business segments you want to focus on most in the future?

In the future too, we will focus on our core business, which is to offer our customers even simpler insurance solutions while maintaining the usual high quality. We will also continue to invest in our ‘Home’ and ‘Mobility’ ecosystems. Thanks to numerous investments, we have become even more efficient and, thanks to the use of new technologies, even faster. During the Investor Day to be held at the end of October we will explain the new strategic phase of the Baloise group.

With the group-wide “Simply Safe” initiative, you have set yourself the goal of attracting one million new customers by 2021. How is the program progressing?

We have shown that we are able to achieve our strategic objectives even in adverse situations. This development confirms our belief that by 2021 we will be able to achieve the Simply Safe objectives.

What projects do you have in Ticino?

Ticino is a very important region for us: we have many clients in Ticino people who place their trust in us. We are aware that success goes hand in hand with responsibility. In these difficult times, we try to be alongside all our customers. We are also grateful to have excellent long-term collaborators in this region. To be able to provide even better assistance, we expand our presence here Ticino and invest in human resources. We want to acquire additional skills to further strengthen our insurance and banking model. In this way we can offer our customers all services directly from Ticino and in a complete way, from consultancy to customer service, up to damage management. In this regard, we are proud to be well represented with our two general agencies.

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Ultime notizie: OnTheSpot
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