Compensa Vienna Insurance Group ADB Latvijas filiāle

What Compensa Vienna Insurance Group ADB Latvijas filiāle does

Compensa Vienna Insurance Group ADB Latvijas filiāle is the Latvian branch of Vienna Insurance Group (VIG), one of the largest insurance groups in Central and Eastern Europe, operating as a top-3 multi-line insurer in the Latvian market. The company offers a broad product portfolio spanning non-life insurance under the Compensa brand (mandatory OCTA, KASKO, Zelta OCTA, property, travel, civil liability, accident), life/health insurance under the Compensa Life and Compensa Seesam brands (health, critical illness, accumulation life, investment funds, 2nd pillar pension), and niche products such as OncoDrop (oncology) and Military Risk Insurance.

The technology stack is a conventional insurance platform with self-service portals (portals.compensa.lv, compensalife.eu), a digital store (veikals.compensa.lv), and two mobile applications (Compensa Seesam and Compensa Life). The Seesam app integrates Telesante telemedicine for remote doctor consultations. Underwriting and claims processing use automated, statistically driven risk evaluation against structured customer and risk profiles, with human review available for compliance.

The business model is subscription/recurring premium-based, with quote-driven pricing for most lines and a 10% online discount on property insurance. Distribution is hybrid: 30+ customer service centers across Latvia, a digital store, a 24/7 hotline (8888), mobile apps, and dedicated enterprise sales for corporate and group health accounts. Customers span individuals (retail mass market for motor, property, health, life, pension) and businesses (corporate property, employee group health via Seesam Veselība, group accident). The company reports 7% revenue growth in 2025 against a 4% Latvian market, with record-high financial results, and recently extended military risk cover across all three Baltic states.

Name

Compensa Vienna Insurance Group ADB Latvijas filiāle

Legal name

Compensa Vienna Insurance Group ADB

Website

https://compensa.lv

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Compensa Vienna Insurance Group ADB Latvijas filiāle is the Latvian branch of Vienna Insurance Group, operating as a top-3 multi-line insurer in Latvia. It offers non-life, life, health, and pension insurance to individuals and businesses through 30+ branches, digital channels, and mobile apps.

Ownership category

akta.pro rank

Product category

Multi-line Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114), Direct Life Insurance Carriers (524113), Direct Property and Casualty Insurance Carriers (524126)

SIC

Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331), Life Insurance (6311)

akta.pro primary industry

Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity) (HLAEABAJ)

akta.pro secondary industries

Whole Life Insurance (FSAIABAA), Travel & Accident (Non-Life) Insurance (FSAJAMAN), Group AD&D (Standalone or Bundled with Life) (FSAIADAG), Group AD&D Insurance (Employer-Sponsored) (FSAIALAA)

Keywords

• Motor vehicle insurance
• Property insurance
• Health insurance
• Life insurance
• Pension products

Headquarters

HQ city

Rīga

HQ country

Latvia

HQ region

Europe

Offices30 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Non-life Insurance (Nedzīvības apdrošināšana): Core revenue stream covering vehicle insurance (OCTA, KASKO, Zelta OCTA), property insurance, travel insurance, accident insurance, and civil liability insurance for individuals. Premiums are collected through annual or multi-year policies sold via direct sales, online store, and branch network.
2. Health Insurance (Veselības apdrošināšana): Health insurance products under the Seesam brand and Compensa Life brand, covering outpatient treatment, critical illness, dental care, optics, rehabilitation, and preventive care. Revenue from employer-sponsored group policies and individual policies.
3. Life Insurance and Savings (Dzīvības apdrošināšana un uzkrājumi): Life insurance, accumulation insurance, and investment funds under Compensa Life brand. Includes pension accumulation products (2nd pillar), death benefits, and investment fund units.
4. OncoDrop: Specialized oncology insurance product providing financial coverage in case of cancer diagnosis. Sold as a standalone insurance product.
5. Pension Products (Mūža pensija): Flexible pension payout products with inheritance options, available through Compensa Life, targeting individuals planning for retirement.
6. Corporate/Business Insurance: Tailored insurance solutions for businesses including corporate property insurance, employee health insurance programs, and group accident coverage.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Compensa Vienna Insurance Group ADB Latvijas filiāle is a multi-line insurance provider offering non-life insurance (Compensa brand) and life and health insurance (Compensa Life brand) to individuals and businesses in Latvia. Core products include motor third-party liability (OCTA), enhanced Zelta OCTA, comprehensive vehicle (KASKO), property, travel, accident, and civil liability insurance, plus health insurance (Seesam), critical illness, OncoDrop oncology coverage, life insurance with savings, investment funds, and second-pillar pension payout products. Sales and service are delivered through 30+ physical customer service centers, a direct-purchase online store, mobile apps, self-service portals, and a 24/7 phone hotline.

Product overview

Compensa Vienna Insurance Group ADB Latvijas filiāle operates as a multi-line insurance provider offering both non-life (Compensa) and life/health (Compensa Life) insurance products. The product portfolio is organized into two main divisions: non-life insurance covering motor (OCTA, KASKO, Zelta OCTA), property, travel, accident, and civil liability; and life/health insurance including life insurance with savings, health insurance (Seesam), critical illness, OncoDrop oncology coverage, and pension products. Self-service is enabled through dedicated mobile applications and online portals. The company also provides telemedicine services via Telesante integration for health insurance clients.

Differentiator

Problem solved

Functional benefit

Brands

• Compensa Seesam: Health insurance and mobile application brand offering outpatient treatment, critical illness coverage, and remote doctor consultations
• Compensa Life
• OncoDrop
• Zelta OCTA

Products and services

• OCTA (Motor Third-Party Liability Insurance) [Saistītā OCTA apdrošināšana] Mandatory civil liability insurance for vehicle owners covering damages caused to third parties in traffic accidents, available to individual vehicle owners in Latvia and purchasable online through the Compensa online store.
• Zelta OCTA (Gold OCTA) Enhanced motor third-party liability insurance providing extended coverage and additional benefits beyond the standard OCTA for individual vehicle owners in Latvia.
• KASKO (Comprehensive Vehicle Insurance) Full-risk vehicle insurance covering vehicle damage, theft, and 24-hour roadside assistance, available to individual vehicle owners in Latvia.
• Property Insurance (Īpašuma apdrošināšana) Insurance coverage for apartments, houses, and household contents against various risks, available to individuals in Latvia with a 10% online purchase discount.
• Solar Panel Insurance (Saules paneļu apdrošināšana) Specialized insurance coverage for residential solar panel installations, available to individual property owners in Latvia.
• Travel Insurance (Ceļojumu apdrošināšana) Travel insurance covering medical expenses, trip cancellations, baggage loss, and travel-related emergencies abroad for individual travelers, with selectable programs and pricing by destination, duration, and coverage scope.
• Civil Liability Insurance (Civiltiesiskās atbildības apdrošināšana) Insurance covering bodily injury and property damage caused to third parties, available to individuals in Latvia.
• Seesam Critical Illness Insurance (Seesam kritisko saslimšanu apdrošināšana) Insurance providing financial protection for individuals diagnosed with serious critical illnesses under the Seesam brand.
• Compensa Seesam Health Insurance (Compensa Seesam veselības apdrošināšana) Health insurance program covering medical expenses for outpatient and inpatient treatment, critical illness, dental, optics, rehabilitation, and preventive care for individuals, with access to remote doctor consultations via the Seesam app.
• Compensa Life Health Insurance for Individuals (Compensa Life Veselības apdrošināšana privātpersonām) Life and health insurance product under the Compensa Life brand covering unexpected health problems and medical expenses for individual policyholders.
• Compensa Life Health Insurance for Legal Entities (Compensa Life Veselības apdrošināšana juridiskām personām) Employer-sponsored health insurance product under the Compensa Life brand providing medical expense reimbursement for employees as a corporate benefit program for Latvian businesses.
• Compensa Accident Insurance for Individuals (Compensa Nelaimes gadījumu apdrošināšana) Accident insurance providing compensation for injuries and physical damage resulting from accidents, available to individuals.
• Compensa Life Accident Insurance for Individuals Accident insurance product under the Compensa Life brand covering accidental injury and physical harm for individual policyholders.
• Life Insurance and Savings (Dzīvības apdrošināšana un uzkrājumi) Life insurance product combined with savings and investment components for long-term financial planning, available to individuals through consultation.
• Accumulating Life Insurance (Uzkrājošā dzīvības apdrošināšana) Life insurance with savings accumulation features and investment fund options for individual long-term financial planning, including the company's current promotion campaign.
• Investment Funds (Ieguldījumu fondi) Investment fund units available as part of life insurance and savings products, providing individuals with diversified investment options tied to their life insurance policies.
• OncoDrop Specialized standalone insurance providing financial support via lump sum payment upon diagnosis of an oncological disease, available to individuals through the online purchase flow.
• Mūža pensija (Lifetime Pension) Flexible pension payout product with inheritance options, linked to second-pillar pension savings, targeting individuals planning for retirement.
• Purchase Insurance (Pirkuma apdrošināšana) Insurance coverage for purchases made with payment cards, covering damage and loss of purchased items for individual cardholders.
• Golf Player Insurance (Golfa spēlētāju apdrošināšana) Specialized accident insurance product tailored for golf players, available to individual golfers in Latvia.
• Military Risk Insurance Insurance coverage against military risks during peacetime, offered to individuals and businesses across the Baltic states of Latvia, Lithuania, and Estonia.

Quantifiable outcome

• 7% revenue growth in 2025 vs. 4% market growth in Latvia
• +1 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core, minor and flagship.

• TelesantecoreTechnology or Integration · 1 January 2026Telesante provides remote doctor consultation services integrated into the Compensa Seesam mobile application for health insurance clients. The partnership enables Seesam health insurance customers to schedule remote consultations with family doctors through the app, with services available in Lithuanian, English, Russian, German, and French.
• LAMPA 2026 Conversation FestivalminorGTM or Marketing Partner · 1 January 2026Compensa is the official insurer (official sponsor) of the LAMPA 2026 conversation festival in Latvia. This sponsorship provides brand visibility and community engagement with Latvian consumers.
• Vienna Insurance Group (VIG)flagshipStrategic or Co-development Partner · 1 January 2026Vienna Insurance Group is the parent company and main shareholder of Compensa. As a member of VIG, Compensa benefits from the group's financial strength, brand reputation, and operational expertise. Wiener Städtische is identified as the main shareholder of VIG.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SEB Life and Pension Baltic: Life and pension business of SEB in the Baltics, focused on unit-linked and pension products; competes with Compensa Life in life/savings and 2nd-pillar pension accumulation in Latvia.
• If Apdrošināšana: Latvian branch of Nordic P&C carrier If P&C Insurance, offering motor, property, travel, and other non-life products to individuals and businesses in the same Latvian market as Compensa, making it a directly comparable local competitor.
• Balta: Latvian non-life insurer historically part of the same Austrian group (now consolidated under VIG alongside Compensa); competes directly with Compensa in Latvian motor, property, and casualty insurance with a similar multi-channel distribution model.
• ERGO Latvija: Latvian operation of ERGO Group offering non-life, life, and health insurance products across similar distribution channels; directly competes with Compensa in multi-line retail and corporate insurance in Latvia.
• BTA Baltic Insurance Company: Baltics-focused multi-line insurer offering non-life and health products in Latvia, Lithuania, and Estonia; competes head-on with Compensa across motor, property, and health insurance lines in the Latvian retail and SME market.
• Gjensidige Baltic: Baltic arm of Norwegian mutual insurer Gjensidige offering non-life and health insurance in Latvia; overlaps with Compensa on private and commercial property and casualty lines within the same Latvian market.
• Swedbank Life Insurance Latvia: Life insurance arm of Swedbank in Latvia distributed through the bank's branch network; directly competes with Compensa Life on unit-linked, savings, and pension life products for Latvian consumers.

Broad incumbents

• Allianz Insurance: Global European insurance incumbent with broad non-life, health, and life offerings across CEE; comparable to VIG/Compensa at the group level in terms of multi-line distribution and product breadth, although not directly competing in the Latvian retail market.
• Wiener Städtische Versicherung: Austrian parent/sister company within VIG serving as main shareholder of Compensa; operates a much broader multi-line insurance portfolio in Austria and CEE, providing a scaled incumbent benchmark for product mix and group positioning.

Regional players

• Lietuvos Draudimas: Largest Lithuanian insurer offering the same non-life and life categories as Compensa; comparable in product breadth and CEE group structure but primarily serves the Lithuanian market, providing a regional benchmark for Baltic operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CompensaLatvija
• LinkedInlinkedin.com/company/compensa-latvia

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Compensa Vienna Insurance Group ADB Latvijas filiāle