GVZ: lower damage amount and new prevention campaign

At Fiscal year 2019 gross premiums increased by 1.36% year-on-year to 127.6 million francs, GVZ recently announced. At the same time, the fire protection levy had increased to 35.8 million francs. The increase was mainly related to the high level of construction activity in the canton of Zurich and - in connection with this - to the increase in insurance capital. At 37.3 million Swiss francs, the estimated loss amount was significantly lower than the previous year's figure of 103.3 million Swiss francs (cf. here); a consequence of events such as the storm "Burglind" and the major fire near Zurich's main train station. Fire losses in 2019 amount to CHF 31.3 million (2018: CHF 55.2 million), according to the data, and natural hazards to CHF 6.0 million (2018: CHF 43.7 million).

The result from investments amounts to 112.5 million francs (2018: -22.8 million francs), as GVZ further writes. Reasons for the increase compared to the previous year are to be found in both the stock market boom and the monetary policy turnaround on the part of the US Federal Reserve. Added to this are the consistently low inflation and the easing of the trade dispute between China and the USA.

Overall, GVZ achieved a result of 169.1 million francs last year (2018: -34.6 million francs). The profit is credited to the reserve fund and sustainably strengthens the financial condition of GVZ, it writes. Thanks to adequate reserves, the company has sufficient funds to cover the financing requirements arising from loss events - such as the recent winter storms "Petra" and "Sabine" - at any time.

New app developed

The GVZ has pushed ahead with its digitization projects: At the end of 2019, the management gave the go-ahead for the switch to the new "GemDat/Rubin" administration software. Since the beginning of 2020, the system has supported the paperless processing of insurance, valuation, claims and financial processes. Thanks to the software, e-billing can now be offered.

The fire protection department has developed a new app especially for periodic building inspections and acceptance tests of technical fire protection systems. It significantly increases the efficiency and effectiveness of the inspection and acceptance work. In the fire department's training system, digitalized processes reduce time-consuming reporting and billing processes for the services of instructors and teachers, the GVZ emphasizes. Automated processes would also minimize time expenditures in the area of training course compensation for course participants and their employers.

New prevention campaign

GVZ prevents risks by enforcing fire safety regulations and providing practical training for fire departments, as well as through natural hazard damage prevention and property protection consulting. With the newly launched prevention campaign "We think along" the GVZ goes one step further and shows ways and solutions to prevent damage to people, animals and infrastructure. GVZ therefore uses the premiums not only to settle claims, but also to prevent damage to people or buildings in the first place.