Our five strategic imperatives* are applied across all business units. The following illustrates them in action in the Risk division.
(Download XLS:)  |
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Imperative |
Activity | ||
|---|---|---|---|
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Financial Management |
Net cash generated by the Risk business increased to £504m in 2009 (2008: £206m) | ||
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Diversified Business |
In Individual protection our product range continues its expansion into High Net Worth markets and family and business protection products. | ||
|
High Quality Products, Broad Distribution |
Bancassurance channel strengthened by the addition of exclusive distribution deals with Northern Rock and Skipton Building Society, amongst others. | ||
|
A Positive Customer Experience |
In Group protection our centres of excellence and employee specialism continue to improve experience and return to work rates for claimants. | ||
|
High Expectation Culture |
Market leading performance continues to be recognised in the attainment of several industry awards. | ||
FOCUS ON LONGEVITY
Success in risk markets requires skills which combine investment, longevity expertise and excellence in risk selection. During 2009 we have made progress in extending the concept of more granular and tailored pricing based on an individual’s circumstances. Our Annuity Solutions service offered customers a conventional annuity with the ability to achieve extra income by providing their postcode when it was launched in 2008. In 2009 this service has been extended to improve our enhanced annuity proposition and now covers an extensive range of lifestyle and medical health risks. Our extensive and statistically credible longevity database is enhanced by our relationship with UCL and the support of the Longevity Science Advisory Panel, headed by Sir Derek Wanless. This relationship helps to inform our views on future UK life expectancy.
