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EU PolicyWatch

Database of national-level policy measures

Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for measure CZ-2020-32/1757 – measures in Czechia

Chytrý Honza: Accelerated investment in IT in financial services company

Pandemie urychlila investice do informačních technologií v odvětví zprostředkování finančních služeb

Country Czechia , applies nationwide
Time period Open ended, started on 03 August 2020
Context COVID-19
Type Company practices
Category Protection of workers, adaptation of workplace
– Teleworking arrangements, remote working
Author Aleš Kroupa (Research Institute for Labour and Social Affairs)
Measure added 03 February 2021 (updated 12 April 2021)

Background information

Financial advisory company Chytrý Honza Chytrý Honza is one of the most important companies in the field of insurance, mortgage, and investment intermediation on the Czech market. The company cooperates with 1,639 consultants (natural and legal persons), who at the beginning of 2020, mainly on the basis of personal contact, mediated one of the mentioned products to more than 40,000 clients.

Content of measure

At the beginning of the pandemic, there was a huge drop in contacts between counsellors and clients. Due to the fact that the company is significantly linked to product partners such as banks, insurance companies, investment, and pension companies, it had to immediately establish online communication with these entities. At the same time, the consultants switched to online communication tools, including communication with clients. Thanks to this, the company had to accelerate investments in technological facilities.

A similar situation occurred on the part of the mentioned financial institutions, which enabled their electronic cooperation with intermediaries such as the company Chytrý Honza. At the same time, the company prepared for the next period of "contactless" consulting services and moved cooperation with partners to a higher level. Technological changes brought the need for further investments not only in the mentioned software products but also in the hardware infrastructure and at the same time in the personnel expansion of the company's IT department.

Use of measure

The development of the company's IT infrastructure concerned mainly technologies enabling software integration with individual product suppliers, ie financial institutions. Another area was software support in concluding and maintaining contractual documentation with clients by consultants. It was mainly the introduction of an electronic signature for the needs of concluding and maintaining contracts. Another area requiring the development of IT infrastructure is the so-called bank identity, which will change the way the client is identified electronically.

Contents

  • Other topics
  • Work organisation

Target groups

Workers Businesses Citizens
Does not apply to workers Companies providing essential services
Larger corporations
Start-ups
Contractors of a company
Does not apply to citizens

Actors and funding

Actors Funding
Company / Companies
Companies

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role No involvement No involvement
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • No involvement
  • Main level of involvement: Company level

Involvement

Social partners aren't involved.

Views and reactions

social partners aren't involved.

Sectors and occupations

    • Economic area Sector (NACE level 2)
      K - Financial And Insurance Activities K66 Activities auxiliary to financial services and insurance activities
    • Occupation (ISCO level 2)
      Customer services clerks
      Personal service workers

Sources

  • 02 February 2021: Pandemie urychlila a zjednodušila sjednání pojištění on-line, posílí velcí hráči, říká šéf Chytrého Honzy (archiv.ihned.cz)

Citation

Eurofound (2021), Chytrý Honza: Accelerated investment in IT in financial services company, measure CZ-2020-32/1757 (measures in Czechia), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/CZ-2020-32_1757.html

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