Manufacturers Life of Canada and the Bank of Cyprus found EuroLife Insurance Company with the aim of creating a leading company in the Life Insurance Sector. During the first year, EuroLife captures a market share of 3% with 3.000 customers and 26 employees.
The Bank of Cyprus acquires Manufacturers Life’s stake in EuroLife, and EuroLife becomes a full member of the Bank of Cyprus Group. Rapid development of the sales network and bancassurance follows through innovative programs. EuroLife is a forerunner in the successful development of the Cyprus banking and insurance system, which makes foreign companies turn to EuroLife in search for expertise.
Halfway through the year, information on the performance of investment units linked to policies becomes available to all customers on a weekly basis.
EuroLife moves to EuroLife House, its privately owned head office. EuroLife’s growth and prime position in Cyprus enables it to expand its operations to Greece. Effective 2001, it offers services in banking and insurance through the Bank of Cyprus branch network in Greece, under the name “Kyprou Zois”.
Customers can learn about the performance of investment units linked to their policies through www.EuroLife.com.cy.
There is upgrading and innovation in products, with EuroLife introducing a new generation of insurance plans. Their main characteristic is flexibility and customization according to the needs and desires of each client.
EuroLife maintains its leadership in the Cyprus insurance industry. It becomes the most stable and secure option for every customer, resulting to high levels of portfolio sustainability for the company. It employs 138 people in Cyprus and Greece. The company succeeds in maintaining a professional and well-trained sales network consisting of 250 full-time employees in Cyprus while serving over 88.000 customers and controlling a market share of around 28%.
The only company to introduce the innovative system MRAS (Allfinanz URE) offers direct and individual coverage without medical tests.
EuroLife is presented with the international quality standard “Investors in People” –the only comprehensive and internationally recognized standard of quality in management and human resource development. This major success makes EuroLife the first life insurance company in Cyprus to receive this distinction
2013 is a milestone year for the island’s economy, as Eurogroup’s decisions turn out to be decisive for the country’s future. The Company actively supports its customers, achieving positive returns on its investment funds and paying €125.000.000 in redemptions, expiration benefits and claims on life, accident and health policies.
Introduction of the innovative Lifecare product.
Following a Cyprus-wide market research, EuroLife earns first place in reliability, robustness and professionalism.
The plan is equivalent to a Provident Fund with additional innovative features and better expected results stemming from the company’s expertise in this area.
myEuroLife is created for customers.
EuroLife is certified with the international quality standard “Investors in People, Bronze”.
Attention to Corporate Social Responsibility, focusing corporate actions on prevention.
The new "See life again" slogan encourages, empowers and advises everyone to review and examine their life needs. It also aims to make people feel confident that EuroLife has the flexibility, power and ability to provide support in every step. By investing in all levels of its operations –infrastructure, services and people–, it creates a new, modern and unique experience for its customers.
EuroLife’s new, unique customer experience includes the material environment in which customers and insurance advisors can communicate, work together and find solutions. New open space offices, multi-dimensional meeting rooms, lounges, teleconference facilities, top technology and digital infrastructure, and a cafeteria featuring a children’s playground.
EuroLife was certified with the “Investors In People” Silver Certificate, which demonstrates the great importance the company attaches to the continuous development, improvement and growth of its people. In addition, Eurolife introduced to customers a new upgraded myeurolife portal for immediate and fast access to insurance policies.
Eurolife present ourlife Loyalty Scheme. This unique plan recognizes the trust customers place in the company and invests in long-term relationships with them.
