THE MARKET ACHlEVEMENTS HlSTORY THE
T he M a r k e t Property & Casualty Insurance is a well established and mature industry. The main product categories in the household market are Motor, Home and Personal Accident insurance. Trygg-Hansa is the third largest insurance brand with a market share of around 18 percent competing with well-known companies on the Swedish market such as If, Folksam and Länsförsäkringar. From a marketing perspective, the insurance market is somewhat of a challenge to work with. For starters, people are not particularly interested and involved in insurance. They do want to feel protected and safe, but are not prepared to spend a lot of time, effort and money on it. Insurance is generally perceived as a bit boring, complex and complicated. Competition is quite intense and the product has been fairly generic, leaving price as the key selection and purchase decision criteria for consumers.
A chie v e me n t s Over the past few years Trygg-Hansa has further strengthened its position as one of the leading insurance companies in Sweden. Both the growth of revenues and profits have been very strong compared to market average. Trygg-Hansa has had a clear and consistent strategic focus on putting the customer and service at the very core of business operations. The company has put increased focus on customer communication and marketing of the brand and its customer proposition,
8 8 s u p e r b r a n d s
and that investment has paid dividends. Satisfaction among existing customers as well as influx of new customers has increased steadily. Trygg-Hansa’s own brand tracking shows all-time-high levels of brand awareness and brand regard in 2009. And campaign generated sales as well as marketing ROI has tripled over the past two years.
Hi s t ory Trygg-Hansa has existed as a brand since 1971, but its origin can actually be traced all the way back to 1828. The company has a total annual premium volume of ten billion kronor and its 2000 employees are serving some 1,9 million customers. The red and white Trygg-Hansa life buoy is one of the most well-known logotypes in Sweden. Corporate Social Responsibility has always been of key importance for Trygg-Hansa and since 1954, the most visible contribution is probably the some 500 000 life buoys that the company over the years has given to municipalities, boat clubs and harbours. Trygg-Hansa was acquired by Codan A/S in 1999 and since 2007 both brands are wholly owned by RSA, one of the world’s leading insurance groups with 20 million customers and 24 000 employees globally.
T he P roduc t Trygg-Hansa offers a comprehensive set of insurances for the household and commercial markets. The household product range includes motor, home/house, personal accident (PA) and care insurance. The
company has a highly competitive proposition and a strong position in all product segments, not least for the segments pregnancy/baby and children where they are the market leader on personal accident insurance. Understanding and catering to customer needs is pivotal for Trygg-Hansa. Generally, the industry is not exactly renowned for being consumer insights driven. Insurance risk and policy terms and conditions seem to have been given higher priority on the corporate agenda than consumer needs, behavior and service. In that respect, TryggHansa aims to be different. Providing product and service excellence for the customers is truly of the utmost importance. One strong piece of evidence to support that aim is the value-added »Rätt Försäkrad Service« (Correctly Insured Service) that the company offers its customers. Making sure the insurance coverage is upto-date and well aligned with individual needs is important for customers, but perceived as difficult to achieve since insurance is regarded as complex and complicated. To ensure that its customers are neither lacking important coverage, nor paying unnecessarily high premiums for coverage that is not needed, Trygg-Hansa launched a customer contact campaign in 2006/2007. The company made a big effort to try and contact all its customers with the aim to help each and every one of them identify their insurance needs and provide a matching insurance solution. Since then, contacting its customers on a regular basis, offering the »Rätt Försäkrad Service« (Correctly Insured Service) is part of Trygg-Hansa’s customer service.
R e ce n t De v e l opme n t s The Swedish insurance market has changed over the past few years. The financial turmoil, general uncertainty among consumers, entry of new players and insurance aggregators (price comparison sites) has brought with it an increased focus on price. The other factor of the customer value equation, i.e. the actual insurance product and service has generally not changed considerably, at least not for the benefit of the customers. Consequently, a need as well as an opportunity for the established insurance companies to further develop their customer proposition in order to differentiate and strengthen their position, has arisen.
M a r k e t ing Trygg-Hansa has a long marketing and advertising history, but challenging market conditions combined with an ambitious corporate agenda, has required a change. In order to revitalize and further strengthen the brand, and to improve marketing performance and business impact, the company has been pursuing a new marketing strategy over the past few years. The marketing now puts
greater emphasis on Trygg-Hansa’s tangible customer proposition and service, dramatizing what the brand specifically offers and does for existing and potential customers. The campaigns are also increasingly focused on digital and direct channels, in order to drive measurable consumer response and sales. The trygghansa.se website is an imperative marketing tool for customer acquisition, cross-selling and retention. It has been re-vamped in terms of structure, content and look-and-feel, as well as further leveraged in the marketing communication. Broadscale brand focused campaigns and traditional channels still have an important role to play in driving overall brand awareness and image, but they are balanced out by proposition-based one-to-one marketing that directly and immediately impact sales. The new marketing strategy is the result of a more insight-driven marketing planning process and performance-based campaign management. Recent Trygg-Hansa market research has identified unmet consumer needs and opportunities for brand differentiation in terms of convenience, simplicity and transparency of the insurance product. One example of a resulting customer value proposition innovation that has been successful is the newly launched, industry-unique »Rätt Försäkrad Garanti« (Correctly Insured Guarantee’). Another one is smart-and-simple all-in-one solutions such as »Trygga Firman« (Safe Firm) for self-employed consumers. Both customer propositions were successfully launched early 2009 behind a new communication platform, creative concept and integrated campaign. In order to make these new services tangible and credible to the customer, well established and visually strong icons such as guarantee stamps, warranty letters and retail-like boxes were used in the marketing and customer communication. All-time-high brand KPIs, response levels and campaign generated sales revenues strongly indicate that the consumer is responding well to the new marketing strategy.
Br a nd Va l ue s The Trygg-Hansa brand is built on a genuine care for people, a genuine care for the customer. Ultimately, the brand is about keeping people moving. In Business. Through life. When it matters most. No problem is ever just a »small« problem to the customers – and not to Trygg-Hansa. The company prides itself on being there for the customers – from the biggest corporations, to each individual policy and delivering on both with the highest level of service. Understanding just what the customers need and want is a key part of this. That allows Trygg-Hansa to provide insurance solutions, pre-cautionary advice and claims handling tailored for the customer. And when the customers need it, Trygg-Hansa can be there to respond with empathy and respect to their issues with a positive attitude to build on for the future.
Things you didn't know about TRYGG HANSA • Trygg-Hansa is a wholly owned subsidiary of RSA, one of the world’s leading insurance groups with 20 million customers and 24 000 employees globally. • Since 1954 Trygg-Hansa has given more than 500 000 red and white life buoys to municipalities, boat clubs and harbours. • Trygg-Hansa is the market leader in child insurance, approximately 50 percent of all privately insured children are customers. • The website trygghansa.se was awarded with an international Webby Award in 2008 and Best Insurance Website by Internetworld, in 2009.
s u p e r b r a n d s 8 9
A chie v e me n t s Over the past few years Trygg-Hansa has further strengthened its position as one of the leading insurance companies in Sweden. Both the growth of revenues and profits have been very strong compared to market average. Trygg-Hansa has had a clear and consistent strategic focus on putting the customer and service at the very core of business operations. The company has put increased focus on customer communication and marketing of the brand and its customer proposition,
8 8 s u p e r b r a n d s
and that investment has paid dividends. Satisfaction among existing customers as well as influx of new customers has increased steadily. Trygg-Hansa’s own brand tracking shows all-time-high levels of brand awareness and brand regard in 2009. And campaign generated sales as well as marketing ROI has tripled over the past two years.
Hi s t ory Trygg-Hansa has existed as a brand since 1971, but its origin can actually be traced all the way back to 1828. The company has a total annual premium volume of ten billion kronor and its 2000 employees are serving some 1,9 million customers. The red and white Trygg-Hansa life buoy is one of the most well-known logotypes in Sweden. Corporate Social Responsibility has always been of key importance for Trygg-Hansa and since 1954, the most visible contribution is probably the some 500 000 life buoys that the company over the years has given to municipalities, boat clubs and harbours. Trygg-Hansa was acquired by Codan A/S in 1999 and since 2007 both brands are wholly owned by RSA, one of the world’s leading insurance groups with 20 million customers and 24 000 employees globally.
T he P roduc t Trygg-Hansa offers a comprehensive set of insurances for the household and commercial markets. The household product range includes motor, home/house, personal accident (PA) and care insurance. The
company has a highly competitive proposition and a strong position in all product segments, not least for the segments pregnancy/baby and children where they are the market leader on personal accident insurance. Understanding and catering to customer needs is pivotal for Trygg-Hansa. Generally, the industry is not exactly renowned for being consumer insights driven. Insurance risk and policy terms and conditions seem to have been given higher priority on the corporate agenda than consumer needs, behavior and service. In that respect, TryggHansa aims to be different. Providing product and service excellence for the customers is truly of the utmost importance. One strong piece of evidence to support that aim is the value-added »Rätt Försäkrad Service« (Correctly Insured Service) that the company offers its customers. Making sure the insurance coverage is upto-date and well aligned with individual needs is important for customers, but perceived as difficult to achieve since insurance is regarded as complex and complicated. To ensure that its customers are neither lacking important coverage, nor paying unnecessarily high premiums for coverage that is not needed, Trygg-Hansa launched a customer contact campaign in 2006/2007. The company made a big effort to try and contact all its customers with the aim to help each and every one of them identify their insurance needs and provide a matching insurance solution. Since then, contacting its customers on a regular basis, offering the »Rätt Försäkrad Service« (Correctly Insured Service) is part of Trygg-Hansa’s customer service.
R e ce n t De v e l opme n t s The Swedish insurance market has changed over the past few years. The financial turmoil, general uncertainty among consumers, entry of new players and insurance aggregators (price comparison sites) has brought with it an increased focus on price. The other factor of the customer value equation, i.e. the actual insurance product and service has generally not changed considerably, at least not for the benefit of the customers. Consequently, a need as well as an opportunity for the established insurance companies to further develop their customer proposition in order to differentiate and strengthen their position, has arisen.
M a r k e t ing Trygg-Hansa has a long marketing and advertising history, but challenging market conditions combined with an ambitious corporate agenda, has required a change. In order to revitalize and further strengthen the brand, and to improve marketing performance and business impact, the company has been pursuing a new marketing strategy over the past few years. The marketing now puts
greater emphasis on Trygg-Hansa’s tangible customer proposition and service, dramatizing what the brand specifically offers and does for existing and potential customers. The campaigns are also increasingly focused on digital and direct channels, in order to drive measurable consumer response and sales. The trygghansa.se website is an imperative marketing tool for customer acquisition, cross-selling and retention. It has been re-vamped in terms of structure, content and look-and-feel, as well as further leveraged in the marketing communication. Broadscale brand focused campaigns and traditional channels still have an important role to play in driving overall brand awareness and image, but they are balanced out by proposition-based one-to-one marketing that directly and immediately impact sales. The new marketing strategy is the result of a more insight-driven marketing planning process and performance-based campaign management. Recent Trygg-Hansa market research has identified unmet consumer needs and opportunities for brand differentiation in terms of convenience, simplicity and transparency of the insurance product. One example of a resulting customer value proposition innovation that has been successful is the newly launched, industry-unique »Rätt Försäkrad Garanti« (Correctly Insured Guarantee’). Another one is smart-and-simple all-in-one solutions such as »Trygga Firman« (Safe Firm) for self-employed consumers. Both customer propositions were successfully launched early 2009 behind a new communication platform, creative concept and integrated campaign. In order to make these new services tangible and credible to the customer, well established and visually strong icons such as guarantee stamps, warranty letters and retail-like boxes were used in the marketing and customer communication. All-time-high brand KPIs, response levels and campaign generated sales revenues strongly indicate that the consumer is responding well to the new marketing strategy.
Br a nd Va l ue s The Trygg-Hansa brand is built on a genuine care for people, a genuine care for the customer. Ultimately, the brand is about keeping people moving. In Business. Through life. When it matters most. No problem is ever just a »small« problem to the customers – and not to Trygg-Hansa. The company prides itself on being there for the customers – from the biggest corporations, to each individual policy and delivering on both with the highest level of service. Understanding just what the customers need and want is a key part of this. That allows Trygg-Hansa to provide insurance solutions, pre-cautionary advice and claims handling tailored for the customer. And when the customers need it, Trygg-Hansa can be there to respond with empathy and respect to their issues with a positive attitude to build on for the future.
Things you didn't know about TRYGG HANSA • Trygg-Hansa is a wholly owned subsidiary of RSA, one of the world’s leading insurance groups with 20 million customers and 24 000 employees globally. • Since 1954 Trygg-Hansa has given more than 500 000 red and white life buoys to municipalities, boat clubs and harbours. • Trygg-Hansa is the market leader in child insurance, approximately 50 percent of all privately insured children are customers. • The website trygghansa.se was awarded with an international Webby Award in 2008 and Best Insurance Website by Internetworld, in 2009.
s u p e r b r a n d s 8 9
