Our
Strategy
Our strategy is to be the UK’s leading insurance and investment group using our multi-channel, multi-brand operating model and accessing the significant HBOS customer base to grow profitable market share.
Key Performance Indicators
Our Key Performance Indicators help us to measure our progress against each element of our strategy.
Growing market share of personal lines insurance
There are significant opportunities through the Group’s Retail network, through intermediaries and our joint venture with esure to grow market share in Household, Motor and Repayment Insurance. In particular, we will use HBOS’s market leading position in mortgages to grow market share of Household Insurance.
General Insurance sales (Gross Written Premiums £m)
% of Group Mortgage customers who have our Household Insurance
Growing market share of investment products
As part of the UK’s largest liquid savings provider, our Investment Business is well placed to benefit from higher savings ratios, supporting demographics and increasing recognition by individuals that they will need to save for their retirement themselves.
Investment Business sales (APE £m)
Market share of Investment Sales (APE) and AUM
Driving customer satisfaction
Service is central to our growth ambitions, driving both new sales and improved retention. We are investing in technology to maximise efficiency and to further enhance service standards. For example in General Insurance, responding quickly when customers call to register a claim on their household insurance allows us to provide our customers with peace of mind.
Intermediary customer service
Financial Adviser Award
Telephony answer rates (%) (Household Insurance claims)
Telephony answer rate is defined as calls answered as a % of calls answered plus calls abandoned after 30 seconds.
Cost leadership
We seek to maximise efficiency in our new business processing, existing business administration, claims handling and customer service, with investment in supporting technology and process improvements.
Underlying ‘Jaws’ measure
Jaws is defined as the difference between the rate of growth in underlying net operating income and underlying operating expenses.
£581m
Underlying profit before tax up 19%
