About Tryg | Strategy

Based on Tryg’s purpose “As the world changes, we make it easier to be tryg”, we have defined four strategic initiatives, which support both our financial targets and our customer targets for 2020. Milestones have been defined for each initiative.

Claims excellence is targeted to reduce claims costs by DKK 600m. The most important initiatives relate to procurement, fraud and even better claims management through the increased use of Tryg’s agreements with garages and builders.

Digital empowerment of customers will be of paramount importance in future, and Tryg is therefore investing heavily in this area. Tryg’s target for 2020 is straightthrough processing of 50% of all claims online as well as a self-service level of 70% for all enquiries. Realising these targets is expected to contribute DKK 100m, as well as boosting customer satisfaction.

Product & service innovation is targeted at DKK 1,000m in 2020+. Tryg has decided to announce that the target must be met after 2020 as profitability is our key focus. However, Tryg expects car insurance prices in particular to be reduced in the long term. Our main focus will be on insuring people and technology. In addition, Tryg is planning to expand its very profitable guarantee business, as well as introducing other insurance solutions which are not available in the market today.

Distribution efficiency is targeted to contribute DKK 150m in 2020. Tryg has historically had a strong focus on reducing claims and administration costs. Efficiency increases through new technological solutions, product simplification and insurance packages together with a strong focus on digital channels will be the main initiatives supporting this target.

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