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Over the years, Eurolife has earned its reputation as a trusted partner for individuals and businesses seeking insurance solutions in Cyprus. This article aims to offer a thorough understanding of the company and its services. It will be beneficial to those new to Cyprus and existing residents, aligning with Eurolife’s philosophy of delivering peace of mind to its clients.
Your journey to a secure future in Cyprus begins with a deep understanding of your insurance options. Let’s dive into the world of Eurolife and discover why it might be the right choice for you.
Eurolife was founded in 1989 by Manufacturers Life of Canada and the Bank of Cyprus. The objective was to create a leading company in the life insurance sector in Cyprus. With 3,000 customers and 26 employees, Eurolife quickly captured a 3% market share in its first year.
In 1994, the Bank of Cyprus acquired Manufacturers Life’s stake in Eurolife, leading to its full integration into the Bank of Cyprus Group. This marked a phase of rapid development of the sales network and bancassurance through innovative programs.
Stepping into the new millennium, Eurolife continued to push boundaries. By 2000, information on the performance of investment units linked to policies was made available to all customers on a weekly basis. Eurolife expanded its operations to Greece in 2001, operating under the name “Kyprou Zois” through the Bank of Cyprus branch network. In 2004, they initiated online access for the investment units of their customers.
In 2008, they introduced a new generation of insurance plans characterized by flexibility and customization. By 2010, Eurolife had firmly established itself as a leader in the Cyprus insurance industry, boasting over 88,000 customers and a market share of around 28%. The company continued to pioneer with the introduction of the innovative MRAS system in 2011, offering direct and individual coverage without medical tests.
With accolades such as the international quality standard “Investors in People” in 2012 and the introduction of innovative products like Lifecare in 2014, Eurolife steadily enhanced its offerings. They also earned top spots in reliability, robustness, and professionalism following a Cyprus-wide market research. Eurolife’s focus on providing comprehensive solutions and exceptional customer service has remained constant. This is evident in their introduction of the ‘myEuroLife’ customer portal in 2016. In 2020 we have the implementation of the ‘ourlife Loyalty Scheme’.
| Year | Milestone |
|---|---|
| 1989 | Foundation of Eurolife |
| 1994 | Full integration into the Bank of Cyprus Group |
| 2000 | Introduction of weekly updates on investment unit performance |
| 2001 | Expansion of operations to Greece |
| 2004 | Launch of online access to investment unit performance |
| 2008 | Introduction of flexible and customizable insurance plans |
| 2010 | Leadership in the Cyprus insurance industry |
| 2011 | Introduction of the innovative MRAS system |
| 2012 | International quality standard “Investors in People” |
| 2014 | Introduction of Lifecare product |
| 2016 | Creation of ‘myEuroLife’ customer portal |
| 2020 | Launch of ‘ourlife Loyalty Scheme’ |
Eurolife offers a wide array of insurance services tailored to the individual needs of its clients. Their product portfolio includes health, life, car, and home insurance, among others. Each product is designed with a focus on comprehensive coverage and affordability.
Health insurance is one of Eurolife’s popular services, offering various plans for different budget ranges. With a focus on ensuring medical well-being, these plans provide coverage for a wide range of healthcare services.
For individuals concerned about their family’s financial stability in case of untimely death, Eurolife’s life insurance policies are a viable solution. They offer comprehensive coverage, ensuring financial security for the policyholder’s dependents.
Finally, Eurolife’s car and home insurance policies are designed to protect valuable assets. They offer extensive coverage options that include damage repair, replacement costs, and liability protection.
| Insurance Type | Features |
|---|---|
| Health Insurance | Comprehensive coverage, Various plans |
| Life Insurance | Financial security for dependents |
| Car Insurance | Damage repair, Replacement cost, Liability protection |
| Home Insurance | Protection for property and possessions |
Eurolife also offers comprehensive insurance solutions for businesses in Cyprus. These include retirement solutions, health insurance, employee protection schemes, and student protection plans. Each of these services is designed with a deep understanding of the business environment in Cyprus.
Their retirement solutions are tailored to ensure financial stability for employees post-retirement. Eurolife’s health insurance packages for businesses ensure the well-being of employees, thereby contributing to a healthier and more productive workforce.
Employee protection schemes offered by Eurolife ensure that businesses are safeguarded against financial instability in the event of an employee’s death or disability. Lastly, the student protection plans provide financial support for education institutions in the unfortunate event of a student’s death.
| Insurance Type | Features |
|---|---|
| Retirement Solutions | Ensures post-retirement financial stability |
| Health Insurance | Contributes to a healthier workforce |
| Employee Protection | Safeguards against financial instability |
| Student Protection | Financial support for education institutions |
Whether you are moving to Cyprus for work, retirement, or establishing a business, you need a reliable insurance partner. Beincyprus.com serves as a bridge to trusted professionals and services in Cyprus. We can connect you with trusted insurance agents so you can compare different insurance policies and make the best decision. This simplifies the process of acquiring the right insurance in Cyprus, enhancing the transition experience.
Contact beincyprus.com for a free consultation with a trusted insurance agent and receive a free quote for your insurance. Our goal is to make the process as smooth and comfortable as possible for you.
As we draw this exploration to a close, we can see the value that Eurolife brings to Cyprus’ insurance industry. With a robust array of tailored services for individuals and businesses alike, the company stands as a testament to the importance of adaptability, innovation, and a customer-first approach in today’s fast-evolving world. Their commitment to providing transparent, secure, and efficient insurance solutions speaks volumes about their dedication to their customers’ needs.