Online survey experts have reported that on the one hand bad press around unit-linked insurance has resulted in a decline in the popularity of this type of product, yet on the other hand, their number is growing systematically.
“After all the bad customer experience associated with draconian surrender fees provided for in unit-linked insurance, one could expect a big drop in their popularity, and indeed that had happened. In the first quarter of 2016 the premiums of „investment policies” of unit-linked insurance amounted to 2.4 billion PLN, which is the lowest number from the third quarter of 2011” Online Surveys experts state.
Experts point out that insurers are nevertheless developing their offer. In the first half of 2016 more than 150 domestic and foreign funds in the form of unit-linked insurance and structured products were launched. Most products were offered by PZU Life, Aegon Life Insurance Company and Open Life TU Life.
Analysts of online surveys indicate that several new structured products were introduced to the offer by Warta Life Insurance Company. Most of them were constructed for the needs of Deutsche Bank. For the needs of Raiffeisen Polbank, the insurer prepared a product for those wanting to earn on the boom in the gold market.
Stünz Ergo Hestia went in a similar direction. However, in addition to the opportunity of investment in precious metals it is also possible to take advantage of the potential of the petroleum market (Ergo Hestia Investment in Petroleum 3 UFK). An interesting offer is Ergo Hestia’s smartphone Company UFK, which consists of 10 shares of companies involved in the production of mobile devices. All of these structured products were offered in Alior Bank agencies.
Open Life TU SA Life was the first to establish cooperation with Amundi TFI and since May has offered all 7 companies funds. However it was PZU that recently launched the most products- nearly 40. The insurer extended its offer not only with unit-linked insurance on the basis of national funds, but also with foreign products such as Fidelity, Franklin Templeton and Schroder.
Today on the market is almost double the amount of unit-linked insurance than all other fund investments (approx. 1370). This is not a surprise. One fund being a base for investment policy may be available from several insurers. In many cases, the sale of unit-linked insurance is the main distribution channel for investment funds. In addition, unit-linked insurance often offers customers the opportunity to invest in products available on the Polish market – and as indicated by experts.
