Aviva 2007 Annual Report Download - page 31
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Please find page 31 of the 2007 Aviva annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Norwich Union Insurance (NUI) is the leading general insurer
in the UK, with a market share of 15%. Our principal
goal is to deliver across the insurance cycle by producing
consistent earnings and creating long-term shareholder
value. Our Norwich Union and RAC brands are both
strong and trusted, and we have an excellent reputation
for value and service to customers and distributors.
We provide a range of insurance products focused
on personal and small business customers, together with
a range of motoring solutions through RAC and associated
brands. We have a multi-distribution strategy, selling our
full portfolio of products through brokers, partners such
as banks and building societies, and direct to our
customers through our two leading brands, NUD and
RAC. Our headquarters are in Norwich and we operate
from 35 locations in the UK, India and Sri Lanka.
We adhere to a clearly defined and communicated
underwriting strategy supported by strong financial disciplines,
and we aim to achieve continuous improvement in the
efficiency, effectiveness and simplicity of our processes
and structures.
2007 was a tough year for our general insurance
business in the UK as we experienced a combination of
higher weather claims and competitive conditions in most
lines of business. In particular it was a year that will be
remembered for the summer flooding experienced in the
north and west of England. Following the events in June
and July last year, NUI helped over 45,000 households and
6,000 businesses get back on their feet after the floods,
and has made interim or full payments to 99% of those
affected. Supporting our customers when they need
us most and to provide them with peace of mind is,
of course, what NUI is here for. In response to these
events we ensured a network of loss adjusters, contractors
and claims teams were on site at the time (including
our mobile advice centre manned by claims and repair
specialists) and call centre staff numbers were doubled
to deal with the extra calls we received.
The action we took during the summer floods is a
clear example that providing excellent customer service to
our partners, brokers and policyholders is a top priority for
NUI, a fact recognised by a number of achievements in
2007. NUI has been voted General Insurer of the Year at
the Insurance Times Awards for the fifth successive year,
demonstrating the confidence and trust that independent
brokers have in NUI. We were also voted General Insurer
of the Year at the Personal Finance & Savings Readership
Awards. NU Direct’s Retention team won Customer Service
Team of the Year at the National Customer Service
Awards. RAC has been rated as number one for motorists
in the annual JD Power survey for the second consecutive
year and was also named as Breakdown and Recovery
Company 2007 by the Institute of Transport Management
recognising the efficient and reliable service offered.
A key part of our ongoing corporate social
responsibility programme is our active engagement in
addressing environmental issues. RAC has been named
Breakdown/Recovery Company of the Year for the
second year running in the Greenfleet Awards, an award
recognising environmental best practice and innovation.
Aviva plc
Annual Report and
Accounts 2007
27
Business
review
RAC in 2007
Our RAC roadside assistance
business has grown during the past
year, with 9 million customers now
on the books. In France, RAC won
a contract to provide assistance
to 2.2 million Aviva insurance
customers. In addition, RAC now
manages Hyundai’s customer
service operation in the UK,
and established a presence in the
banking sector with membership
provided to HBOS account holders.
RAC was named breakdown and
recovery company of the year by
both the Institute of Transport
Management and the Greenfleet
Awards 2007. It was praised for
providing top-quality motoring
benefits and high levels of
customer service across Europe,
and was recognised for its efforts
towards environmental best
practice. Motorists also voted RAC
top for roadside assistance for the
second consecutive year in a survey
conducted by consumer research
company JD Power and Associates.
For more information visit
www.rac.co.uk
Analysis of UK general insurance and health results
IFRS operating profit Net written premiums
2007 2006 2007 2006
Norwich Union Insurance 380 1,081 5,440 5,583
Aviva Re 53 36 50 59
NU Healthcare –1406 358
United Kingdom 433 1,118 5,896 6,000