GPI Holding Retains Leadership in Georgia's Insurance Market
GPI Holding has maintained its position as the leader in Georgia's insurance market for the sixth year in a row, according to the latest report by the Insurance Supervision Service of Georgia. GPI Holding holds 18.5% of the market, and in 2022, the company collected a total of 162,336,985 GEL in premiums, representing a 19% increase from the previous year. GPI Holding paid out a total of 111 million GEL in losses to policyholders during 2022.
Paata Lomadze, the General Director of GPI Holding, stated that 2022 was a significant year for both the insurance industry and the company. Despite facing challenges such as inflation in medical and auto insurance and changes in consumer behavior, the company achieved its plan for both premiums raised and profitability. GPI Holding introduced new concepts such as their auto insurance brand, Auto Aktiv and Auto Fix, which are tailored to all categories of consumers.
GPI Holding also made progress in non-life insurance and focused on offering high-level insurance services to the industry. Maintaining customer satisfaction, which is equal to 98%-96% according to internal research, remains a priority for GPI Holding. The company achieved this result by constantly improving their services and simplifying the use of insurance through multiple channels to make access and consumption easier and faster for different segments.
An important technological innovation in 2022 was the improvement of the insurance portal, Mygpi, to simplify both auto insurance and health claims. GPI Holding made significant progress in cargo and container insurance and updated and improved the carrier's liability insurance product. They also created an online platform, Mycontainers.ge, to remotely manage insurance processes.
GPI Holding serves up to 250,000 policyholders throughout the country and has the largest retail sales network in the industry. Along with face-to-face communication, GPI Holding offers smooth and highly developed digital services, with the online platform Mygpi.ge allowing users to purchase insurance and receive full services online.
GPI Holding is also the largest employer in the insurance market, with 650 employees. The company is a preferred employer for candidates due to their employee-oriented culture, which aims to create the best environment for growth and development.
In conclusion, GPI Holding has retained its position as the leader in Georgia's insurance market for the sixth year in a row. With a significant increase in premiums and a focus on improving customer satisfaction and services, GPI Holding is a preferred insurer for policyholders and candidates alike. The company's commitment to innovation and technological advancements, combined with their large retail sales network and employee-oriented culture, ensures that they remain at the forefront of the insurance industry in Georgia.