BTA Baltic Insurance Company AAS (BTA) has doubled the volume in Health insurance segment by acquiring a number of large companies that are oriented on furnishing their staff with good working conditions.

Now BTA can boast having among its customers companies that regularly get highly praised in Latvian best employers survey, such as Lattelecom, Air Baltic Corporation, Riga International Airport, Latvijas Finieris, Citadele bank, Latvijas Mobilais Telefons (LMT), and many other companies that play a significant role in national economy. With the addition of the new customers, BTA Health insurance volume will nearly double within a three months’ time, and a considerable increase can be expected in BTA’s Health insurance market share in Latvia. It reached 16.4 % at the end of the last year.

The basis for success is listening to customers’ expectations and strict following the selected strategy. As an increasing number of customers run a pan-Baltic business, they need health insurance policies that are effective in all the three countries. Therefore, from now on, BTA will compensate its customers for expenses received in Estonia and Lithuania as well, although the effective contract provides for compensating the expenses for services received in the territory of the Republic of Latvia. This will apply to the received medical services, as well other services, according to the insurance programme selected by the employer.

“The achieved results encourage us to provide yet better customer service to our customers. We keep expanding the list of partner medical institutions list in the entire Baltic region to provide better accessibility of services to our customers. We keep improving BTA Portal, where each customer is able to get acquainted with services available in the Health insurance programme and the used portion of indemnity limit, and submit claims. Obtaining new policies in other insurance kinds as well as renewing current ones that will expire soon is easy in the portal,” reasons for the fast growth comments BTA Baltic Insurance Risks Underwriting Department Director Ivo Danče.

Staff health insurance is a considerable financial support, not just for the employed persons, but for the state healthcare system as well. In 2017, the total volume of health insurance premiums written in Latvia reached 81 million euro, which is 12% of the total national budget, allocated for healthcare. The voluntary health insurance allows receiving medical services faster, easier, as well as grants access to prophylactic services.

About BTA

BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1 000 employees in the Baltics. The largest shareholder of BTA is Vienna Insurance Group AG with 200 years of experience in the insurance industry. More than 50 companies in 25 countries constitute the group, which employs 25,000 employees. Vienna Insurance Group AG is a clear leader in its core markets in Europe maintaining high rating of financial stability – Standard & Poor’s A+ (stable outlook), with a listing on the Vienna and the Prague Stock Exchange.

Additional information:
Elīna Rasmane
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS
e-mail elina.rasmane@bta.lv