Volkswagen insurance service
| Volkswagen Insurance Service GmbH | |
|---|---|
|
|
| Seat | Braunschweig |
| legal form | GmbH |
| founding | 1948 |
| Website | www.vvd.de |
| Business data | |
| Employee | 607, on loan from Volkswagen Financial Services (2011) |
| management | |
| Corporate management |
Wulf Hartrampf, Anthony Bandmann |
In 1948 the insurance broker Heinrich Kurig founded the “ Volkswagen Versicherungsdienst GmbH ” ( VVD for short ) on behalf of the “Volkswagenwerk GmbH”, because the Volkswagenwerk GmbH was not allowed to set up its own company in the insurance industry due to legal regulations. The purpose of the company was and is to broker motor vehicle insurance and support customers in the event of damage.
Key data
Volkswagen Versicherungsdienst GmbH is now the largest broker of motor vehicle insurance in Germany. In the 2011 financial year, 13.1% of the new vehicles sold by the Volkswagen Group were provided with vehicle insurance from the Volkswagen Insurance Service.
Structure, brands, subsidiary
"Volkswagen Versicherungsdienst GmbH" has been a 100 percent subsidiary of "Volkswagen Financial Services AG" since 1999 .
In 1949, the first foreign subsidiary of Volkswagen Insurance Service was founded in Austria. Since then branches have followed in the Netherlands, Italy, Great Britain, France and Switzerland. In addition, in European countries in which the Volkswagen insurance service does not have its own companies, the insurance business is offered through subsidiaries or branches of Volkswagen Financial Services AG. Volkswagen Financial Services AG offers financial services for the brands of the Volkswagen Group in 40 countries both directly and through equity investments and service agreements. The insurance business of the other brands of the Volkswagen Group is covered by the respective branches Audi VersicherungsService, Seat VersicherungsService, Škoda Auto VersicherungsService and AutoEuropa VersicherungsService.
Products
Activities focus primarily on brokering insurance policies with the associated European claims service through dealers of the Volkswagen Group. The range of services for private customers includes motor vehicle liability insurance as well as full or partial comprehensive insurance as well as insurance such as a cover letter, extended guarantee insurance, damage protection abroad and legal protection for traffic. The Volkswagen insurance service also offers product packages such as premium light, a combination of vehicle financing or leasing with vehicle insurance. Premium light Plus includes vehicle financing and insurance as well as extended warranty insurance.
history
- On November 7, 1939, the “Law on the Introduction of Compulsory Insurance for Motor Vehicle Owners” was passed, and from this point on it was necessary to take out motor vehicle insurance.
- In February 1948, "Volkswagen Versicherungsdienst GmbH" was founded by Heinrich Kurig on behalf of "Volkswagen Werk GmbH". The business purpose of the Wolfsburg-based company is the brokerage of motor vehicle insurance and the support of customers in cases of damage.
- When the one millionth Volkswagen rolled off the assembly line in 1955, the Volkswagen Insurance Service issued its one hundred thousandth contract.
- In 1961, the VVD issues the 500,000 policy.
- In 1965, the one millionth contract was signed.
- In 1970 Volkswagen Versicherungsdienst GmbH moved from the office building in the plant on the Mittelland Canal to the newly built Burgwall Center in Wolfsburg.
- When a heavy thunderstorm broke out over Bavaria in July 1984 and huge hailstones caused severe damage in Munich, the Volkswagen insurance service rented a sports field in Munich and asked its customers to present their damaged vehicles there in a daily newspaper. In a few days, 5,000 claims with a total loss of almost 16,000 DM are settled.
- In 1986 the service card is introduced, which identifies the customer to the Volkswagen company and facilitates the processing of all vehicle insurance processes.
- After the abolition of the inner-German border, all citizens of the former GDR have to take out a new car insurance policy on January 1, 1991. By the beginning of September 1991, insurance contracts for new and used vehicles for motor vehicle liability insurance rose by 93.4 percent.
- 1995 Volkswagen Insurance Service is taken over by Volkswagen Financial Services AG.
Key figures
The portfolio of insurance brokerage and service contracts rose to 3.1 million as of December 31, 2012 (2011: 2.6). The number of new contracts was 1.06 million (2011: 0.91).
literature
- Manfred Grieger, Ulrike Gutzmann, Dirk Schlinkert (eds.): Volkswagen Financial Services AG. Wolfsburg 2009, ISBN 978-3-935112-36-9 . (Historical notes)