Provident is going to enter the insurance distribution business. AXA was chosen to be their partner in the project.
Provident specialises in loan sales. The company employees 5k agents who work in different areas of Poland. 80% of them are being trained in life and health insurance sales.
As Artur Zabielski, who is responsible for sales and clients services in Provident Polska, said the new development strategy of the company is a result of market changes. So loan agencies have to search new markets and business development areas.
“Insurance is an important business branch, which our clients expect. They want to protect their life and their children. So we prepared our new offer in life insurance and protection from the risk of cancer in response to our clients’ needs. We will stand out due to attractive prices. Product prices will reflect clients’ financial possibilities. We expect that this new business will help us in building better relations with them”, Artur Zabielski said.
Commissions on sale will be a motivation for agents to expand their competences in the sale of financial products. Currently they are prepared to take on new tasks. They will soon have to pass an exam to become agents. And the next step will be get to know the AXA offer.
“We started a test program in four regions of Poland. We have trained 300 people who sold hundreds of policies. We expect that this promising result of the test stage is a forecast of positive cooperation with insurers and it will bring higher profits than in forecasts. We plan to make insurance products available for our all clients by the end of the year”, Artur Zabielski indicated.
AXA was chosen by way of a tender procedure though the companies have been cooperating for 2 years. Provident announced that this is the beginning of its development in the insurance sector. The company plans to extend its product offer.
