We combine people, relationships and technology to deliver compelling propositions and services for large-scale partners which generate sustainable growth for the Group and its shareholders.
8 reasons to invest
Attractive product categories
Products providing peace of mind to customers, whilst delivering additional streams of revenue and profit to existing and new business partners alike.
Fast growing markets
Supported by our legacy businesses, we are already strong and growing in India and Turkey, with China, Bangladesh and our new UK business offering significant additional growth opportunities.
We work with major companies globally to enhance their core products to deliver highly valued services for customers.
Strong customer growth
Customers have grown from 4.3 million at the end of 2016 to 10.9 million with strong and reliable renewal rates giving long-term stability.
Investment in product and margin
Strategic investments in our markets and insurtech mean we are pioneering innovative product solutions in the financial services sector. We are expanding our ownership of the value chain and our tech-enabled services allow us to create strong annuity income streams, allowing CPP to progressively increase its operating margins. All of this is supported by our financial strength with £11.5 million of net funds as at the end of June 2020.
We focus on four strategic drivers to grow our business and achieve our ambition of becoming the ‘go to’ provider of ancillary product services among large scale financial services companies.
Relentless focus on business partner needs
Key achievements for 2019/2020
- Extension of key business partner contracts in high growth business units including with Bajaj Finserv, SBI Card and Axis Bank in India, BoComm in China and DenizBank in Turkey
- New partnerships with brands like American Express and Tata Finance in India, Manulife and Pluto in Canada and RAC and Arthur J Gallagher & Co in the UK,
- Our partner base increased by 50% since the beginning of 2019 which will contribute to our continued growth in revenue and customer numbers
- Established service provider relationships that are supporting multiple markets
- Retain and grow our existing partnerships through multi-product (BPM services, health, cyber, mobile and travel) and multi-channel strategies
- Develop global and local pipelines of new business with targeted propositions
- 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
A different approach to culture
Key achievements in 2019/2020
- Becoming business unit-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
- 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
Focus on value-driving business units
Key achievements in 2019/2020
- 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 multiple locations across Delhi and Kolkata
- Investment into new UK business, leading to a successful entry into the UK broker market
- 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
- 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
- Maintain renewal performance and improve the customer journey, through digital experiences with a lower cost base
Create advantages through technology and innovation
Key achievements in 2019/2020
- Integrating smart and digital capabilities in existing product in existing markets
- The launch of LivPlus – a health and wellbeing product sold in India. This product sees CPP enter a new product category and generated over £13 million in new revenue in 2019
- CPP China made advancements in its technical capabilities through developing a strategic partnership with Whistle Technology. This collaboration will enable better inroads to this market whilst allowing CPP China to create better experiences for consumers across new sectors.
- Ongoing development and digital enhancement of core products
- Expand and diversify the product portfolio in India through the development of income protection support
- Build out our innovative technology platform to drive new product development and speed to market
- Capitalise on global opportunities for commercial parametric business disruption insurance through Blink following its selection to the Lloyds Lab programme
- Extension of product categories in Turkey with the launch of CyberCare through AXA Sigorta, DenizBank and Ray Sigorta and the Blink travel proposition through our Anadolu Insurance partnership
- Continue to work with innovative new start-ups to deliver solutions to meet ever evolving customer and business partner needs
- Seek investment opportunities to enhance digital and technological capabilities across the Group, as well as providing additional revenue lines