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Prominent Central European insurer - PZU - chooses TIA
Virum, Denmark – The PZU Group, the largest insurer in the Central & Eastern Europe, has chosen to enter a long-term partnership agreement with TIA Technology.
As a first step in the cooperation, the TIA Solution will be the backbone of the PZU subsidiaries in Lithuania, Latvia and Estonia. Previously, these three companies were owned by the RSA Group, and as such were already running mature versions of the TIA Solution. The recent deal with PZU, has made TIA the chosen PZU system in the Baltics and paves the way for stability as well as growth.
During 2013, PZU acquired 3 local companies from RSA – Codan in Estonia, Balta in Latvia and Lietuvos Draudimas in Lithuania. These local PZU companies are market leaders in Lithuania and Latvia and collectively the largest insurance companies in the Baltic States.
In the short term, the agreement with TIA allows PZU a smooth and safe continuance of business with its Baltic subsidiaries. In the longer term, it paves the way for the local PZU companies to move ahead and grow smoothly and quickly.
TIA Technology is a familiar face in the region. In 2012, TIA acquired Lithuanian TIA specialist, Itero, and currently works with four strong partners in the region who work on TIA implementations in the region. The local TIA office in Vilnius, Lithuania employs over 30 people, most of who focus on R&D delivery and Professional Services.to its own housing cooperative to the selling insurance to private consumers.
The PZU Group is one of the largest financial institutions in Poland and in Central and Eastern Europe. It is headed by the Polish insurance company PZU SA (PZU, Issuer).
The PZU Group satisfies the fundamental needs of 16 million customers for security and stability, including 6 million customers of group life insurance.