Investors

We are focused on building shareholder value through our model for sustainable growth, product and service innovation and long-term value generation.

9 reasons to invest

Investment case

Corporate strategy

We focus on six strategic pillars to build on our existing capabilities, drive further product innovation, provide smarter end-to-end user experiences and deepen integration with business partners. All to progress our ambition of becoming the leading provider of product and wrap-around services to the financial services industry.

Focus on business partnerships
Key achievements for 2018/19
  • Extension of key business partner contracts in high growth markets including with Bajaj Finserv in India
  • Over ten new partner contracts signed in 2018
  • 2019 has seen new partnerships with brands like American Express and Tata Finance in India, Manulife in Canada and Pluto alongside significant contract extensions with both, SBI Cards and Axis Bank in India
  • We have seen a 13% increase in our active partner base across the Group across this period
  • Established product supplier relationships that are supporting multiple markets
What next?
  • Retain and grow our existing partnerships through multi-product and multi-channel strategies
  • Develop global and local pipelines of new business with targeted propositions and explore partnerships with fintech players, travel insurers, credit card companies, mobile manufacturers and retailers; including Amex in India, BoCom in China, Coppel in Mexico and Deutsche Assistance in Germany
  • Develop comprehensive managed solutions for business partners to go beyond a simple product/channel push including providing business partners with the suite of CPP capabilities (data, BPM, etc)

Cultural and organisational changes
Key achievements in 2018/19
  • From Centre to Country focused through our decentralised operating model
  • Continued investment in culture and people which is having a tangible impact on colleague and organisational progress
  • Formalised the EU Hub, freeing up our local leaders to drive business development
What next?
  • We will continue to operate a decentralised model that provides greater responsibility and accountability for local leaders
  • Expand our global community of colleagues and opinion leaders to create synergies and best practice across our local markets
  • We continue to create the right culture to bring out the best in our people through ‘Learn More, Be More’, which is about personal and organisational growth
  • Create a global community that everyone wants to be part of, attracting and retaining the right people with the right capabilities to deliver growth

Investment in growth markets
KKey achievements in 2018/19
  • Extended our value chain in our Indian business with a controlling stake in Globiva (one of the fastest growing Business Process Management companies in India). Globiva has grown rapidly and has now expanded to three locations (two in Delhi and one in Kolkata)
  • Developed the capability for and launched Extended Warranty in Mexico
  • We have signed a new Card Protection contract with a second bank in Bangladesh
  • Bespoke IT platform has gone live in China to conform to data residency legislations in the market
  • Innovative marketing strategies with key partners Ping-An Bank and SPDB deployed to increase sales of our Card Protection and Smart Travel products
  • New management team in China
What next?
  • Invest in our colleagues, local skills and resources to increase autonomy of local markets with improved technological capability and end customer user experience
  • We see significant growth opportunities in the mobile phone insurance market in Bangladesh and discussions are well progressed with active partners in this market
  • Grow customer numbers in China, India and Mexico
  • Globiva’s growth is expected to continue over the next three years to in excess of 3,000 colleagues.
  • Improve profit margins in India through ownership of more of the value chain and via digital execution

Realignment of traditional markets
Key achievements in 2018/19
  • We have created efficiencies in the operating model and cost base of our UK and traditional European markets which is expected to lead to annualised savings in the range £4.0 million to £4.5 million
  • Creation of a new EU Hub with a stable new business line and multilingual support team
  • Maintained retention rate performance of core product lines at 83% in our traditional markets through this transition
  • Investment into new UK business to deliver a successful entry into the UK broker market
What next?
  • Maintain renewal performance and improve the customer journey, through digital experiences with a lower cost base
  • Embed the operational changes implemented through creation of the EU Hub; generating ‘back to basics’ new business

International expansion
Key achievements in 2018/19
  • • Launched in Bangladesh and signed our first partnership with Eastern Bank Limited and signed a second contract with Brac Bank
  • Development of our borderless model where our products are delivered through our InsurTech platform across markets, removing the need for physical presence in countries
  • Entry into the Canadian market through our flight cancellation insurance with large travel insurers Blue Cross and Manulife
What next?
  • Extend our global footprint through the creation of an operational hub in South East Asia and further development of opportunities in the region
  • We will continue to expand into new markets using our established successful businesses as launch pads for expansion
  • Further extend borderless model

Driving technology, capability and product innovation
Key achievements in 2018/19
  • Investment stake in KYND to target a new market sector for CPP and build digital capabilities
  • Integrating smart and digital capabilities in existing product in existing markets
  • Commenced a decentralised IT strategy to provide strategic advantage in our growth markets, whilst increasing efficiencies and reducing costs
  • Improvements digital delivery by further InsurTech platform investment through Blink
What next?
  • Ongoing development and digital enhancement of core products
  • Build out our innovative technology platform to drive new product development and speed to market
  • Capitalise on global opportunities with large scale business partners offered through Blink
  • Continue to work with innovative new start-ups to deliver solutions to meet ever evolving customer and business partner needs, making us more relevant to our business partners
  • Seek investment opportunities to enhance digital and technological capabilities across the Group, as well as providing additional revenue lines