Our Strategy

The esure Group strategy has been designed and implemented to deliver increased value to all stakeholders through making insurance simple for our customers.

Growth

Approach

The Group targets profitable growth through its focused and controlled approach to underwriting. On a test and learn basis, the Group continues to widen its customer footprint as it looks to grow its market share in Motor and Home insurance.

Update

Gross written premium growth of 19% to £655m; in-force policy growth of 9% to 2.2m.

Motor customer footprint increased to 70–80% of the market.

The Group has increased its market share in Motor to an estimated 5.8% (2015: 5.3%) and an estimated 2.1% in Home (2015: 2.1%).

Contribution

Approach

Contribution analytics allow the Group to make value-based decisions on customer acquisition and retention. A diversified suite of additional insurance products and services provide further opportunities to deliver an improved contribution.

Update

Data-led contribution analysis across customer life cycle.

Improved take up rate of additional insurance products.

Enhanced renewal pricing.

Expense efficiency

Approach

Low cost philosophy set from the top and embedded throughout the business. Customer acquisition costs in total flex with the growth of the business through our focus on fixed unit cost price comparison website distribution. The Group’s agile, flexible and scalable infrastructure aids this approach.

Update

Cost per policy of £73.

Expense ratio of 24.6%.

Better use of robotics to drive efficiency.

Effective claims management

Approach

Settling claims is what we are here to do when our customers need us the most and that is why our processes aim to put the customer at the centre. UK-based claims centres, with over 600 specialists; our own approved repair network; and market-leading fraud capabilities help to deliver an excellent customer service while containing costs.

Update

Over 90% of accidental damage claims settled through own repair network.

6 to 1 return on counter fraud investment.

Enhanced strategies to mitigate claims inflation.

Growth

Approach

The Group targets profitable growth through its focused and controlled approach to underwriting. On a test and learn basis, the Group continues to widen its customer footprint as it looks to grow its market share in Motor and Home insurance.

Update

Gross written premium growth of 19% to £655m; in-force policy growth of 9% to 2.2m.

Motor customer footprint increased to 70–80% of the market.

The Group has increased its market share in Motor to an estimated 5.8% (2015: 5.3%) and an estimated 2.1% in Home (2015: 2.1%).

Contribution

Approach

Contribution analytics allow the Group to make value-based decisions on customer acquisition and retention. A diversified suite of additional insurance products and services provide further opportunities to deliver an improved contribution.

Update

Data-led contribution analysis across customer life cycle.

Improved take up rate of additional insurance products.

Enhanced renewal pricing.

Expense efficiency

Approach

Low cost philosophy set from the top and embedded throughout the business. Customer acquisition costs in total flex with the growth of the business through our focus on fixed unit cost price comparison website distribution. The Group’s agile, flexible and scalable infrastructure aids this approach.

Update

Cost per policy of £73.

Expense ratio of 24.6%.

Better use of robotics to drive efficiency.

Effective claims management

Approach

Settling claims is what we are here to do when our customers need us the most and that is why our processes aim to put the customer at the centre. UK-based claims centres, with over 600 specialists; our own approved repair network; and market-leading fraud capabilities help to deliver an excellent customer service while containing costs.

Update

Over 90% of accidental damage claims settled through own repair network.

6 to 1 return on counter fraud investment.

Enhanced strategies to mitigate claims inflation.