Our business model & investment case

As an agile organisation we listen and respond to customer feedback, with a focus on delivering great customer outcomes and strengthening our business.

Unlocking the benefits of our new digital platform for customers and colleagues; fully decommissioning legacy technology.

Creating an inclusive, collaborative and supportive environment for our colleagues to flourish.

Supporting our communities and reducing the impact we have on the environment.

Our mission is to become the UK’s ‘go to’ digital personal lines insurer and as a result deliver long term sustainable growth for the Group.

The Group has over 2.13m In-force Policies and delivers award winning customer service. While we distribute directly to consumers using our established brands, the majority of our distribution is through Price Comparison Websites, the customers’ channel of choice.

We have an opportunity to serve more customers’ home and motor insurance needs through the cautious growth of our competitive underwriting footprint.

Our Game Changer strategy is bringing together digital transformation with our customer-centric approach to build a significant competitive advantage in this highly fragmented, profitable market.

We recognise that there will be periods when market conditions are not conducive to near term growth and, in those circumstances, we will take a long term view and demonstrate pricing discipline at the expense of short term growth.

In addition to maintaining our core insurance disciplines our transformation programme has now delivered an advanced digital platform. With the entire customer base now supported by this new platform, we are well placed to deliver low-cost personalised customer experience using advanced data science to optimise customer service. The flexibility and ability to scale and customise the platform will allow us to expand the propositions offered and to further improve our management of insurance risk. We have an experienced, high calibre and diverse management team with deep expertise in insurance, technology, customer experience and data to allow the Group to deliver on its promise to fix insurance for good.

The combination of the Group’s trading and underwriting performance with its efficient balance sheet structure is expected to deliver strong profitability over the medium-to-long-term. Our disciplined financial and risk management approach and cautious reserving philosophy give the Group its strong balance sheet. We expect our Game Changer strategy to build upon strong underwriting, pricing and claims management discipline through further product launches, automation and data science capabilities.