DIRECT LINE INSURANCE GROUP PLC
Direct Line Group insight webinar on Claims
30 June 2021
Direct Line Insurance Group plc ('the Group') is today holding an investor and analyst insight webinar, with members of the Claims senior management team talking through the key elements of their strategy.
Claims is key to the Group's vision, strategy and purpose because it is the moment of truth in the relationship with our customers. Our focus in claims is to balance four key components:
1. Delighting our customers - we offer market leading propositions and excellent customer service. This is reflected in strong net promoter scores and drives commercial value through high retention rates of around 80% in Motor and Home. Motor and Home customers who claim from us are more likely to renew the following year.
2. Handling claims efficiently - we have built significant digital and automation capability and are targeting a 20% reduction in our cost to serve by 2023.
3. Top quartile indemnity control - our scale and expertise together with the ownership of DLG Auto Services enable us to deliver better than market average claims costs. We believe we have a 3% to 5% claims cost advantage compared to the average across the market for Motor and Home, whilst delivering great service.
4. Innovating for sustainability - building on our existing competitive advantages, our vertically integrated model means we can address market trends early, such as increasing car technology. For example we have already trained many of our technicians in electric and hybrid vehicle repairs and have invested in ADAS calibration tools to increase speed and reduce cost of repair.
In combination, these capabilities deliver strong customer and commercial outcomes and provide a competitively advantaged foundation as the Group progresses from technology transformation into business transformation.
A recording of the event along with presentation materials will be made available on the Investor relations section of the Direct Line Group website.
For further information, please contact:
Director of Investor Relations
Tel: +44 (0)7795 811 263
Group Corporate Affairs and Sustainability Director
Tel: +44 (0)7786 836 562