UNIQA Group Introduces Digital Brand CHERRISK
Meet CHERRISK :
Think: a new D2C brand – officially launched on Sep. 17 – by the Hungarian branch of UNIQA Group to offer car, home, accident and travel insurance via an online interface “optimized for all devices”. The project has been in ideation since Spring 2014 and UNIQA has invested over €4m in innovation company CherryHub Kft – the one responsible for the implementation of CHERRISK.
“The UNIQA Group emphasizes its ability to meet its changing customer needs and expectations. That is why it has launched its recent $500 million digital transformation and innovation program. UNIQA International has always played an important role in innovation. The best-practice transfer between our countries is regular, so we have introduced several robotization in the administration, such as biometric signatures from Croatia or our consulting network, which was first available in the Czech Republic and Slovakia. We have always considered Hungary as an innovator. In recent years our Hungarian subsidiary has changed not only the financial indicators but also the customer service philosophy. So we came to the conclusion that in 2018 so far, more than 45,000 customer evaluations have led our clients to 4.2 of our service on a scale of 5. That is why we supported the realization of CHERRISK when Krisztián contacted us. We are also excited and proud of the results after the start. If successful, we will support CHERRISK as much as possible for more customers in other countries.” – Wolfgang Kindl, managing director of UNIQA International, the international sponsor of the project.
Also, CHERRISK offers a chatbot named Emma to support customers when they need to make a claim.
Last, users can collect ‘cherries’ if they take part in risk-reduction games that can later be used to reduce the insurance premium or to support a charity or a community of choice. “We now have more confidence in users than ever before. We return to the basics of danger community where we take care of each other and try to reduce our risks together. At the moment, UNIQA International is also focusing on the pilot program in Hungary, as in the next 4-5 years, our surveys show that half of our clients will be born after 1995. To address them, we must pay close attention to their needs.” – CEO at CHERRISK & UNIQA Insurance Hungary, Krisztián Kurtisz.
Bottom Line: incumbents have relied on random acts of philanthropy to position insurance as a social good while more and more new entrants are integrating a charity component at the heart of their value proposition . Mind the difference.