Aviva 2013 Annual Report Download - page 21

Aviva plc
Annual report and accounts 2013
19
Strategic report Governance IFRS Financial statements Other information
Strategic framework
Our purpose and plan
Our long-term strategic framework is based on four theses –
investment, distribution, customer and people. The following
pages outline our strategic direction.
these areas we can deepen our customer
relationships, and better identify and meet more
of their nancial needs.
The following pages provide more detail on
our Aviva values, our customer, distribution,
people and investment theses. By delivering on
our purpose we will make Aviva stronger for our
customers, our shareholders, our communities
and our people.
Three areas of focus where we will allocate
resource:
§Digital: We will prioritise investment in digital.
This includes digital as a direct channel and also
more broadly. Our aim is to increase our share
of the direct digital channel and develop more
effective use of data and new technology
§Predictive analytics: We will focus on
enhancing our analytics capabilities, increasing
the use of internal and external data to drive
superior performance across the business
including underwriting, pricing and claims
§Automation: We will reduce manual
interventions in processes, reducing overheads
by, for example, increasing auto-settled claims.
This will enable us to move to a model of
ongoing efciency improvement that has
signicant customer benets.
At Aviva, our purpose is to free people from fear
of uncertainty, allowing them to get on with
their lives.
A key priority is to make sure we remain
nancially strong, so that we can pay claims and
deliver on the promises we have made to our
customers, shareholders and business partners.
To make this possible, we have focused on
improving our capital position to place the
company on a sound nancial footing and give
us nancial exibility. Today our economic capital
surplus is double the level of two years ago.
One of our greatest opportunities is to share
expertise across the Aviva Group, and make it
simpler for our customers to have all their
insurance needs met by us, whenever and
however they choose. To help achieve this we
have focused our 27,700 people on our common
purpose, plan and values. There is already much
to be proud of. We have a respected global
brand, strong customer service, leading life and
general insurance businesses, comprehensive
distribution channels and an increasing presence
in direct and online channels.
To build on our success and further improve
our customer experience we are investing in three
key focus areas: digital, predictive analytics and
automation. By strengthening our capability in
Mark Wilson
Group Chief Executive Ofcer
Our plan of action is based on four strategic theses
Investment thesis
The investment thesis sets out why
investors should choose us, enabling
investors to make an informed decision
about our business
Customer thesis
The customer thesis identies how we will
meet customers’ needs better than our
competitors, so that we become the insurer
of choice in our chosen markets
People thesis
The people thesis is about changing our
culture, supporting our people to achieve
their potential so they can best serve
our customers
Distribution thesis
The distribution thesis ensures that we
provide the range of channels through
which our customers want to purchase
products and services from us
Our values
“Having the right values is
essential to achieving
success. These values are
important to us and will
be at the heart of how we
do business. The values will
act as a guide whenever
we decide on a course of
action. Living the Aviva
values will help us achieve
our purpose.”
For more information on our values
turn to page 23
Kill
complexity
Create
legacy
Care
more
Never
rest