W. Droege has big plans in Central and Eastern Europe
Since autumn 2018, the German Droege Holding GmbH with its subsidiary W. Droege Assekuradeur GmbH has also been operating in Austria. Christoph Schrötter heads the Vienna branch, which is also responsible for the development and expansion of the CEE business. By 2022, the company wants to play a market-leading role in transport and logistics insurance.
“For us, being an assurer first means providing qualified advice to our partners. These include insurers and brokers. We are specialists in risk assessment, the development of cover concepts and the submission of binding offers for the insurers we represent. In addition, we take over the preparation and signing of insurance contracts and certificates as well as the complete claims processing and settlement for the insurers,” says Christoph Schrötter, Managing Director of W. Droege Assekuradeur GmbH.
The team of four in Vienna – consisting of insurance, transport and logistics experts – was able to build up a portfolio of EUR 6.7 million by October 2019 in cooperation with its successful colleagues from Germany. “Until the end of 2019, we will manage a portfolio of EUR 9.5 million for our partners for the year 2020 – this corresponds to 400 managed contracts. In addition, we settle around 4,000 claims annually with an average lead time of 10 days,” adds Schrötter.
The medium-term goal is clear: Together with its partners, Wiener W. Droege Assekuradeur GmbH wants to manage a portfolio of EUR 20 million by the end of 2022 and at the same time achieve a loyalty rate of 90 percent. The broker partner network in Austria currently comprises 15 partners, who are serviced from Vienna on the one hand, and from one independent service station each in Upper Austria and Tyrol on the other.
Apart from Austria, Wiener W. Droege Assekuradeur GmbH has one national cooperation partner each in the Czech Republic, Slovakia, Romania, Bulgaria and Lithuania, which already serves a total of 270 independent broker partners in their local language, according to local business practices and at W. Droege’s conditions. Entry into further countries is planned in the near future.
W. Droege Assekuradeur sees itself as an outsourcing partner for insurers who have little expertise in the field of transport and logistics insurance, or who are unable to serve these with personnel or only to a limited extent. The company acts as a competence centre for those insurance companies that no longer wish to serve this line of business due to risk considerations, but wish to provide solutions for customers.
Droege Holding GmbH, headquartered in Hamburg, is one of the leading providers in the insurance broker and assurer market, particularly in the transport and logistics sectors and other special areas. On the market since 1847, the company offers its customers the know-how advantage of a major broker and assurer as well as the individually tailored service quality of a medium-sized company.
With around 160 employees, Droege Holding GmbH has its own locations in Germany, Austria and Turkey. The group includes the insurance broker Aktiv Assekuranz, the underwriting agent W. Droege and the claims service Bavaria GSS.