Highlights of 2008

MARCH

Leading the Brand
192 managers with personnel responsibilities completed a Nordic development programme during the year. The programme Leading the Brand was a strategic initiative aimed at forging a closer link between managers’ role and TrygVesta’s vision, strategy and corporate values. In 2009, TrygVesta intends to launch a further management development programme – Leading by Strategy, designed for managers who have managers reporting to them.

APRIL

New roadside assistance product in Denmark 
TrygVesta extended its role as a peace-of-mind provider with the roadside assistance concept Tryg Vejhjælp in Denmark. Tryg Vejhjælp offers a loan car, towing, battery jump-start and other services. The extended Tryg Vejhjælp pro-duct also offers a taxi service, hotel accommodation, an annual safety check-up and a bi-annual change between snow tyres and summer tyres. Tryg Vejhjælp was added to the motor insurance coverage of some 300,000 concept customers in 2008 at no additional cost.

MAY

New international network partner
TrygVesta and AXA Corporate Solutions signed a letter of intent to the effect that by 1 January 2009 TrygVesta would be using the international network of AXA Corporate Solutions to meet Nordic customers’ international insurance requirements. The AXA Corporate Solutions partnership makes TrygVesta part of a global network represented in more than 90 countries and with geographical coverage of 95% of the inhabited world. AXA is one of the world’s largest insurance companies.

JUNE

Self-service in Norway 
In Norway, TrygVesta’s customers were given the option to report claims electronically on the Internet. The option of electronic claims reporting means that customers’ claims are handled quicker, and it involves less forwarding of documents. This solution makes internal processes more efficient and creates potential for further automation efforts in claims handling. The option was received favourably by customers. 

AUGUST

SundPuls
TrygVesta launched a preventive health care product, called SundPuls. The product offers Danish businesses a thorough check of the state of their employees’ health. Based on the health check, each employee receives an individual action plan and the business receives an overall anonymised report. In addition, employees are offered advice on food, exercise, smoking and alcohol over the SundPuls telephone service and can read about health issues at the SundPuls Internet portal. Employees with special needs, for example substance abuse problems or a risk of lifestyle diseases, may be offered additional expert counselling. SundPuls is offered to businesses with more than 25 employees and the annual cost is DKK 895 per employee.

SEPTEMBER

Oslo achieves milestone
Efforts to lift TrygVesta’s market share in Oslo were on track. TrygVesta’s shares of the private market in Oslo have been below those recorded in the rest of Norway. The goal is to lift TrygVesta’s share of the private market in Oslo to the level of the rest of Norway by the end of 2011. 

The first milestone was to reverse the adverse trend in the Oslo area and lift sales, and in 2008 we outperformed the growth forecasts for the first time. TrygVesta is now the company that records the highest growth rates in the private lines in Oslo. In 2009, TrygVesta intends to focus on further increasing sales in Oslo to the private as well as the commercial market.

Corporate in Sweden 
As a natural extension of the Group’s Nordic commitment TrygVesta set up a Swedish corporate business, initially with an office in Stockholm. The Stockholm office will collaborate with already established underwriting teams in Denmark and Norway to sell insurance to large customers in the Swedish business sector through insurance brokers.

Products initially offered to Swedish corporate customers include liability, consequential loss, building (property) and commercial cargo policies.

The office had a staff of five at 31 December 2008. 

NemKonto 
In Denmark, TrygVesta began transferring repayments from insurances automatically to customers’ NemKonto, an ordinary bank account, to which public authorities and businesses may transfer money. All Danish citizens have a NemKonto.

TrygVesta used to send several hundred thousands of cheques to Danish customers each year. Using the NemKonto saves customers a trip to the bank, and TrygVesta disposes of the manual work of writing and sending cheques.

Customers who do not want money paid into their NemKonto may still opt to receive a cheque. 

NOVEMBER

Nordea partnership extended
TrygVesta and Nordea have extended the successful partnership, operated since 1999, to 2013.

The partnership provides for Nordea to sell TrygVesta’s policies on a pan-Nordic basis in its branch network, and for TrygVesta to sell Nordea’s life and pension products in Denmark and Norway. The agreement also involves Nordea’s portfolio management of most of TrygVesta’s investment assets.

DECEMBER

TrygVesta in European top league
Consulting firm Arthur D. Little concluded in a survey that Nordic insurance companies are the most cost-efficient in Europe. TrygVesta ranked four out of fifty companies.

The top-fifteen companies in Europe include nine Nordic-based companies. When comparing countries, Denmark came in one, Sweden two and Norway three.