Vision and Strategy
Our Long-Term Comprehensive Vision is Beneficial to any Client
The arenas in which we are active – pension savings, insurance, and finance – are among the most dynamic and competitive fields of activity, whether in Israel or overseas. Changes, developments and new trends occur frequently, and have great impact.
Migdal Insurance's professional vision believes in providing our clients a diverse selection of products in the fields of savings, insurance, and finance, in order to create a personally tailored solution for their needs at all stages of life, accompanying clients and their families throughout the years. Our business challenge is to maintain our leadership and growth, while responding quickly and professionally to market fluctuations, changes in regulation, technological innovations, and the changing preferences of investors and insured parties.
Migdal strives to renew and update its insurance plans in order to respond to the varying needs of its client population, while ensuring financial security and peace of mind.
Pension Savings – For financial security during retirement
Life Insurance – to secure quality of life after a loss
Health Insurance – to ensure proper medical care when necessary
General Insurance – to secure the value of your home, your property, your vehicle or your business
Investment Solutions – for management of assets and available funds
The volatile business environment and increasing competition require the Company to continuously examine its conceptualization and readiness with regard to its goals and business strategies. The significant changes in the field of insurance and long-term savings, which are Migdal Insurance's primary field of activity and which came into effect in January of 2013 revolved primarily around the prohibition to market insurance plans that combine savings with annuity coefficients that embed a life expectancy guarantee and the decrease in management fees (primarily in life insurance plans). This changing reality challenged us in determining our long-term strategic goals.
The Company's primary strategic goals, as determined by the board, are:
• Retention of the Group's status as industry leader in Life Insurance and long-term savings
• Maintaining an adequate level of profitability over time, while enhancing the field of General Insurance
• Continuous improvement in satisfaction and loyalty among clients and distribution channels