Starting from 1 March 2009 all the products in the Aviva Life Insurance portfolio will have a new identity.
Starting from 1 March 2009 all the products in the Aviva Life Insurance portfolio will have a new identity.
The constant concern of offering clients personalised products, which meet their ever-changing needs, has always been a priority for the Aviva Life Insurance company. So, in October last year, Aviva carried out a Customer Satisfaction Survey, in which over 1,000 customers responded to our questions.
The findings of the survey have underlined the need to change products, not only in terms of how they look, but also in terms of the features and benefits offered.
So the whole range of products underwent major changes, the aims of which were:
- new features and benefits; an option was introduced which allows customers to get through difficult financial times and keep, at the same time, the financial protection offered by Aviva, an advantage in which customers have shown themselves to be extremely interested, especially in this time of crisis
- increased product flexibility (the possibility of accessing a number of protection options)
- changing how things look; we have new leaflets for all our products, leaflets which provide structured information and help customers to identify their specific needs
- changing what things are called, the majority of our products having been renamed.
In order to prevent any resulting difficulties in identifying products, they have been divided into three main categories:
- life insurance products: Complete and Essential
- life insurance products with a savings component: Study grants (financial plan for children), Senior Account, Active Account
- life insurance products with an investment component: Plus Account and Forte Account.
Another of the survey’s findings highlighted the low level of awareness amongst Romanians, who considered that they were not in possession of all the information which they needed in order to invest. The result was a new Aviva brochure, which helps customers to choose investment products appropriate to their personal level of risk; in addition, on the www.aviva.ro website anyone can identify their risk profile and take advantage of free consultancy from Aviva financial advisers.
“The resilience of the Aviva Group, proven and demonstrated throughout its over 300 years of experience, has been based on two principles: innovation and the needs of customers. The decision to change the identity of Aviva Romania products emerged from these principles. In 2008 we analysed the growth of the financial services market in Romania more so than in the previous years and our findings are reflected in all the changes which we have made at the products level,” Shah Rouf, CEO of Aviva Romania stated.
“We have not ignored the international context either and we have kept those products which offer our customers the guarantee of investment and superior returns in uncertain economic conditions. Capital Garantat (Guaranteed Capital) is our programme of investments (the only one in Romania) which guarantees that unit value will not decrease and is available for all our savings and investment products. The growth of this programme in the last 12 years demonstrates our concerns about our customers’ peace of mind and prosperity - Capital Garantat has had a 10.5% return on investments in the last 12 years,” Shah Rouf added.
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The point of contact for further information:
Lavinia Pavel – Brand Communication Coordinator
Telephone: 0723 310 378
E-mail: lavinia.pavel@aviva.ro
Notes for editors:
About the Aviva Group
Aviva is the oldest insurance group in the world and the largest in Great Britain, dating back to 1696. Today, Aviva has 57,000 employees and 45 million customers in 27 countries across the world.
The group is the market leader for life insurance and pensions in Europe, leading on the majority of the markets in which it operates.
Aviva has revenue from insurance premiums* and investments totalling 49.2 billion euros and manages over 359 billion pounds’ worth of funds**, putting Aviva in fifth place in the top flight of international insurance companies.
Aviva Group Romania
Aviva Group Romania includes three companies: Aviva Life Insurance, Aviva Management Company for a Private Pension Fund, Aviva Investors Romania (purchased on 30 November 2007).
About Aviva Life Insurance and Aviva Management Company for a Private Pension Fund
Aviva began operating as a provider of life insurance in Romania in 2000. On 26 July 2007, Aviva received approval from the Oversight Committee for the System of Private Pensions to set up a company to administer private pensions (Aviva Management Company for a Private Pension Fund SA), and on 25 August 2007 received authorisation to administer its mandatory pension fund – Pensia Viva.
About Aviva Investors Romania
Aviva Investors Romania currently administers 9 ***million euros in 4 open-ended investment funds, 2 closed-end funds and a significant number of managed portfolios. The open-ended investment funds managed by the company are each based around a different type of investment: Aviva Investors (AI) Intercapital (a shares fund), AI Capital Plus (a diversified fund), AI Orizont (a fixed-income – bonds – fund) and AI Tezaur (a monetary fund).
Aviva Investors Romania has shown throughout the years that it is one of the most dynamic and innovative administrators in the market. The company launched the first commission-free sales fund on the Romanian market (AI Tezaur) and the first bonds fund in Romania (AI Orizont). Aviva Investors Romania is also proud to support the growing investment funds market in Romania.
* according to data from 31 December 2007
** according to data recorded on 20 June 2007
*** according to data recorded on 31 January 2009