The PZU Group is Poland's largest financial conglomerate with over PLN 400 billion in assets. It has a footprint in five countries. The company invests heavily in innovation through its PZU Ready for Startups program and Innovation Lab unit, which works with startups and tests new solutions. Some successful innovations implemented include using AI to analyze photos and documents for faster motor claims handling, and an AI-powered mobile app for skin cancer prevention testing. The company aims to spread an innovation culture throughout its organization and ecosystem partners praise its flexibility and partnership approach.

1. PZU Ready for
Startups –
Innovations in the
200-year-old
company
Warsaw, Poland
PZU Group
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2. The PZU Group is the largest financial conglomerate in Poland and CEE with assets
exceeding PLN 400 billion. We have a footprint in five countries.
Innovations pose a significant part of PZU Group Strategy. Rapidly changing world,
modern technologies and more & more demanding customers give no other choice, but to
search for new solutions and redefine current business model.
The PZU Group Strategy for 2021-2024 calls for investments of PLN 100 million annually
in areas involving the broadly defined digital transformation and innovation. We know that to
stay relevant for our ~22 million customers in the long-term, we have to be more than just
an insurance company. Therefore, we invest heavily in innovative projects, cross-
industry partnerships and cooperation with startups.
We run a programme called PZU Ready for Startups which includes partnership with MIT
EF CEE acceleration programme and activities of special unit called Innovation Lab with
strong mission to "challenge the status quo", which has the acceptance for higher risk while
testing new solutions (we accept a risk of failure!).
Additionally, a special entity called PZU Lab addresses needs of our corporate clients in
terms of risk management and a dedicated unit called AI Factory conducts in-house
projects related to AI.
PZU Group is also an active player in terms of investments as there is a dedicated CVC
fund (RBL_VC powered by Alior Bank) and Witelo Fund which intends to invest resources
in the world's leading VC funds.
Good understanding of new technologies
and emphasis on intensive digital
transformation

3. 11.12.2019
How it started… Establishment of the first insurance company on Polish soil
1809
Creation of the PZU brand - transformation of the Polish Mutual
Insurance Directorate into a public company – Powszechny Zakład
Ubezpieczeń Wzajemnych
1927
PZU’s debut on the Warsaw Stock Exchange (WSE)
2010
Rebranding 2012
Establishment of a special unit dedicated to innovations – Innovation
Lab
More about the role of Innovation Lab in short video here.
2017
As many future innovators started in a garage, we also started in a garage. This
is obviously a metaphor, simply, we had to kindle the fire of innovation in the
organization, so that each business unit adopts cutting-edge solutions more
and more frequently. This is why we established the Innovation Lab, which
task is to pick out the most interesting and promising ideas, that appear on the
market and test them, adjust to our business model and implement in our
business.

4. Innovation is one of the key values for the PZU Group
Innovation in the PZU Group is not limited to a single division, project or area. Smaller and bigger changes are constantly being made to every aspect of how the
company operates, and they combine to form a picture of one of the most innovative companies in the financial industry in Europe. PZU’s innovations contribute
to client experience, which is a top priority for the Group, to employee comfort and to the development of the overall economy.
The PZU's dedicated innovation strategy supports Group’s
mission and core strategic goals. PZU focuses on four key areas:
 Advanced analytics and using big data sets;
 New client interactions Ecosystems;
 Digitalization (in particular emerging technologies);
 Employer 2.0.
Projects and initiatives run by PZU reflect the abovementioned
key areas of interest. The Group is fully aware that innovations
call for making creative space conducive to generation of
ideas, as well as prototyping, testing and implementing
unique original solutions. This is the role of PZU’s Innovation
Lab. Its main task is to search for modern solutions, check them,
perform tests and support rollouts. Moreover, special processes
have been forged in the entire organization to facilitate rapid
testing and implementation of innovative solutions.

5. As Innovation Lab we focus primarily on supporting PZU’s business units
in their transformation by leveraging strengths and flexibility of start-ups
ecosystem in Poland and worldwide
Business activities
Marketing and PR
activities
Improvement of
current products and
processes
Creation of new
products and processes
(new business models)
Projects resulting
from the needs of
business units
Projects resulting from
development of new
technologies
In-house
(building solutions
from a scratch)
Cooperation with start-
ups ecosystem
Low risk of project
failure
High risk of project
failure
#ecosystem
We are present in the
startup ecosystem, thanks
to which we identify the
best solutions quickly and
effectively

6. In recent years, we have built a solid foundation and achieved our first
successes in implementing innovations
Before you call
service
Menderes Melanoma
Ai prevention
Semantic OCR AI in Claims 1 Flu prediction
AI in Claims 2 CRM 2.0
(machine learning)
CASH Life Band
Agro Lab
CyberRaport
IDEAS AND SOLUTIONS
DETAILED ANALYSIS
PREPARATION FOR POC
CONDUCTED PILOTS
IMPLEMENTATION PHASE
~5 000
200-250
~80
~50
~35
~ 5%
40%
60%
65%
Projects’ funnel after ~5 years of
Innovation Lab’s activities
(2018-2022)

7. AI in motor claims handling
 As part of the project, machine learning and automatic image analysis in real time
were tested and implemented. The system, apart from the automatic analysis of
photos, is also able to name a specific part of the car, determine the extent of
damage and qualify a given component for repair or replacement.
 Artificial Intelligence takes only 30 seconds to analyze the technical
documentation, and in addition, its use allows you to select ~ 90% of the
documentation that meets the requirements necessary to maintain the high quality
of claims handling at PZU.
Claims handled so far
worth >4,2 bn PLN
Significantly, faster
claims settlement
process

8. Robotic process automation
 Taking over the repetitive activities by robots allows employees to focus on
individual cases that require their knowledge and experience
 Robotization has a positive effect on the quality of data in domain systems,
accelerates the implementation of processes, which translates into an
improvement in the company's image
>70 business processes >80 implemented robots

9. AI Skin Cancer Prevention
 Medically certified mobile app empowered by AI solution supports the process of
prevention of skin cancer and offers fast self-pre-assessment of moles.
This innovative solution allows fast and comfortable assessment of moles at home.
In 30 seconds, we can take a photo and receive guidelines of next steps.
 First time in Poland clients of group insurance product had a chance to use a
combination of AI and mobile technology to prevent skin cancer.
 The service was shared for free, for 6 months with our corporate clients and then
their employees. Also, employees of PZU had a chance to test. A total of 100
thousand people had an option to test it in the project. After the PoC the solution is
being implemented as a part of preventive action „A minute for the skin”
Increased awareness of
skin prevention
6 confirmed cancer
cases

10. What are our current partners saying?
”
PZU is a large organization which is highly aware of the newest trends on the
market. The company knows what it wants and seeks its partners among the
best. At the same time, when seeking partners, it does not look for only on
global players, giving also a chance to smaller organizations. It is a
demanding Partner focused on the quality of delivered product. At the same
time, the company is very flexible and understands perfectly the operational
culture of startups
As a startup, we find our
collaboration with PZU very positive.
In fact, over
the past eight months of working on
our common cyber security scoring
project, PZU treated us as partners
rather than regular suppliers.
As a technological company with a new product,
you would like to have partners that believe in the
solution, to develop it together and show its full
potential. PZU is one of our most enthusiastic
partners in the world. They quickly noticed
potential benefits in our solution and we
cooperated efficiently to jointly put these benefits
into effect
Jacek Gładyszewski
Head of Insurance Product Development
Telematics Technologies sp. z o. o.
Aleksander Surowiak
Business Development & Engagement Manager
Tractable
Tatiana Podvysotska
Business Development
Director WebTotem

11. We are doing our best to spread culture
of innovation across all organizational
levels
Everything starts on Board level
● Chosen Board Members are part of the Innovation Committee which mission is to manage the
development of innovations in PZU at strategic level
● We strongly engage business, IT, legal, procurement, security and other departments in the process
of creating, testing and implementing state-of-the-art solutions
We are an active player within startups ecosystem
● We closely cooperate with organizations like Efma, embassies, technological parks, external
conferences, space agencies
● We are also a partner with acceleration programmes in which in every edition we analyse ~300
startups from all over the world
● We want to stay in touch with our partners and best startups so we also organise events dedicated
for our ecosystem like “Insurtech Day powered by PZU"
We strongly encourage internal development of innovative ideas
● We organize regular meetups for the PZU employees called "InTalks" that aim at sharing knowledge
and information about innovative initiatives across the organization
● Once a year we organize "Innovation Day" with ~1000 employees attending
● PZU Group operates in 5 countries so we organise regular knowledge sharing sessions with different
subsidiaries when we discuss our best practices
● We believe that employees are the powerful asset so there is a plenty of initiatives that engage
employees and stimulate them to generate innovative ideas - "Idea Generator", "Future On",
"InnowacJA"

12. Thank you