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S4.SBM-2
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S4.SBM-3
Customers and end-users
Based on a double materiality assessment, the PZU Group identified consumer and end-user groups. The Group analyzed all consumer groups that could be materially impacted, including both direct customers of PZU Group entities and end-users. The analysis included the identification of impacts, risks and opportunities. Still, the PZU Group did not identify any significant positive impacts in supply chain and own investments due to the indirect and limited impact on consumers and end-users. Further, the assessment did not identify any significant impacts, risks or opportunities related to consumers who are business customers, which means that this segment was considered insignificant from a reporting perspective.
- life and health insurance clients – all policyholders of life and health insurance offered by PZU Group entities, including potential clients, with particular focus on clients with disabilities and senior clients (individuals over 65 years old);
- non-life insurance clients – all policyholders of nonlife insurance offered by PZU Group entities, including potential clients, with particular focus on clients with disabilities and senior clients (individuals over 65 years old);
- investors in investment and pension funds – all clients holding investment and pension products offered by PZU Group, including those with life and health insurance that include investment components;
- retail banking customers – all Bank Pekao and Alior Bank retail banking customers, with particular consideration for elderly people, people with disabilities, and people with lower financial knowledge;
- PZU Zdrowie patients using medical services – all patients of PZU Zdrowie Group, with particular attention to residents of rural areas and towns under 100,000 inhabitants.
Material impacts
The PZU Group takes a systematic approach to identifying and minimizing negative impacts on consumers and end-users, focusing on such areas as privacy, responsible information about products and services, and the assurance of accessibility and inclusion. Potential material or negative impacts include misleading, discrimination, and irresponsible marketing practices that may hinder customers’ ability to make informed decisions and may lead to financial difficulties. Failure to ensure personal data security can result in identity theft, financial loss, and a decline in trust, consequently affecting customer welfare and the PZU Group’s reputation and generating potential negative impact, financial and systemic risk.
In addition, at the individual level, negative impacts can lead to a lower sense of financial security, stress, limited access to services, and deterioration of the living situation of individual customers.
- non-life insurance customers – providing communication channels, including complaint mechanisms, allows for building trust, solving problems, collecting feedback, and strengthening the relationship with customers. High availability of PZU branches adapted to people with mobility impairments (more than 70% of branches). Communication and customer service procedures tailored to the needs of seniors. Rapid response procedures in case of mass damage;
- life and health insurance customers – inclusion of mental health aspects in health insurance, expanded coverage to include both physical and mental health, along with psychologist support during rehabilitation after an illness;
- investors in investment and pension funds – PZU’s investment and pension funds offer information to help identify investments that directly and indirectly support sustainable development goals, empowering customers to make financial decisions aligned with sustainable development principles;
- retail banking customers – increasing inclusion in financial services by offering banking products that are accessible to different customer groups, including young people, seniors, and lower-income earners, as well as ensuring product accessibility by translating key documents into Ukrainian;
- PZU Zdrowie patients – the impact on the protection of customer rights by the Patients Ombudsman. Medical packages in a wide price range, equalizing access to private healthcare, particularly in smaller towns, thanks to the high availability of clinics and outpatient facilities outside major urban areas.
Material risks
- Life and health insurance customers – insufficient transparency of information may lead to misunderstandings and decreased customer trust;
- PZU non-life insurance customers – insufficient transparency of information and inadequate protection of sensitive data can limit customers’ ability to make informed decisions, lead to misunderstandings, and reduce trust in the PZU Group;
- Retail banking – legal risks resulting from violations of regulations or rules for structuring contracts with customers, which may lead to claims, sanctions or legal costs. Misselling may result in customer complaints, supervisory proceedings, lawsuits, and the need to pay compensation, generating legal and financial costs. There is increased risk associated with the imposition of penalties by UOKiK as a result of Bank Pekao’s practices, including those related to free-credit sanctions and unauthorized transactions. Due to increasing customer activity and consumer protection by the regulator, which is initiating more proceedings against the Bank, the probability of this risk materializing in 2025 was identified.
The PZU Group pays special attention to the needs of vulnerable customers, including elderly people, people with sensory, physical and cognitive disabilities, and people with chronic diseases. To this end, solutions are being implemented to make services more accessible. These solutions include adapted service procedures, simplified visual communication, materials in plain language, and the development of digital channels. To provide an example, the mojePZU platform and the “Wojażer – Ask for Assistance” function enable quick contact with a consultant to arrange medical assistance. Information about the mojePZU platform is available in the Chapter “Business Model”: subsection “Insurance Products”.
The PZU Group actively supports vulnerable customers, such as elderly people, people with disabilities, migrants, and residents of smaller towns. These activities include: adaptation of facilities and products to the needs of vulnerable groups; simplified visual and linguistic communication; development of online services and telemedicine; and psychological and rehabilitation support.
Material opportunities
- investors in investment and pension funds – with financial education, there is an opportunity to raise customer awareness of investing, which may lead to greater confidence in funds and an increase in the number of investors. Safe investment products are an opportunity to build stability and loyalty among customers who are looking for capital protection while enjoying moderate growth, which is especially important during periods of economic uncertainty.
In addition, PZU conducts comparative analysis (benchmarking) with European insurers and demographic research, and it identifies strategic opportunities related to tailoring its offerings to the needs of seniors, which opens access to a growing market segment. By organizing a series of “Senior Academy” seminars, PZU Zdrowie identifies the needs of this customer group and builds relationships, gaining a competitive advantage.
ESG-related issues in product development process
In 2025, the PZU Group continued to implement the principles of responsible business and sustainable development in the processes of creating new products and modifying the existing ones. All insurance products are designed in accordance with legal regulations, KNF guidelines and internal product management procedures, and they are analyzed in terms of ESG factors. Solutions were introduced to minimize the risk of negative impact on customers, including mechanisms for monitoring service quality, analysis of complaints, and regular customer satisfaction surveys.
