Warta has been recognized for its professionalism and its pace of growth in the field of project management by the Program Council of Portfolio Experience 2014. The award confirms the smooth and swift integration of the large insurance companies: Warta and HDI.
"I am pleased that the independent experts of the Program Council have appreciated the quality of our operations and recognized our Project Management Office as the fastest-growing one in the market. In recent months we have been working hard to centralize project management competencies, while conducting integration activities," says Przemysław Romaniuk, director of the Project Management Office at TUiR Warta.
2013 was a year of very intense efforts to merge the non-life insurance companies: Warta and HDI Asekuracja, as well as the life insurance companies, Warta and HDI-Gerling Życie. This integration results from the Warta acquisition in mid-2012 by the Talanx Group, which already owned HDI Asekuracja. At the end of 2012, the two non-life insurance companies merged legally, creating the second-largest entity on the Polish market. Simultaneously the legal merger of the life insurance companies (Warta and HDI- Gerling Życie) was being prepared in order to take place at the end of 2013. It was the sheer size of the integrated entities that forced them to open about 120 projects, under the 'BEST' strategic program. Most of the key projects have now been completed, in many cases before the planned due dates.
"Congratulations to all the Project Management Office employees and thanks to everyone involved in the integration process. I'm glad that the implementation of this solution, in which all the initiatives and projects are now under one umbrella, the PMO (Project Management Office), is appreciated. This solution is not often applied in Polish corporations," says Jarosław Parkot, CEO of TUiR "WARTA" S.A. and TUnŻ "WARTA" S.A.
The integration projects covered all areas of the insurance company. It was necessary to conduct two legal mergers and three rebrandings, as well as to unify the back-office processes. The main IT system had about 200 modifications scheduled for 2013-2014, involving both combining and expanding the systems. To achieve smooth functioning in a short time, Warta had to transfer approx. 4m policies and 1m open claims. Simultaneously, the projects aimed to implement sales strategies that are still unique in our market concerning individual life insurance under two brand names. Integration also required us to develop a completely new product range and to implement a single sales system for agents. The processes developed by the non-life insurance company are now being utilized to integrate the life insurance companies.
"Our goal was to introduce operational changes as quickly as possible, and in 2014 be fully prepared for the competition in the Polish insurance market. In the coming months, 2 years after the Polish Financial Supervision Authority approved the merger decision, we will ultimately complete the BEST program. It was done at a record-breaking pace, taking into account the scale of the operations," says Jarosław Parkot.