Another great insurance company that is worth mentioning would be Aviva Life Insurance Company. Have you heard of this company? Let us take a quick trip down their history so that we can get to know this company a little better. Aviva began as a company that thinks of what is good for you. Through the years, they have been there to help their 34 million customers save for the future and manage the risks of everyday life with strong businesses in 16 markets in UK, Europe, Asia, and Canada. It has been their purpose to free people from the fear or uncertainty and have a certain peace of mind. They aim to meet the needs of their customers in life, general, accident and health, and even in asset management. It is because of this that they decided to go digital. Many customers wanted to easily reach them through their smart phones so the company complied.
“At Aviva, everything we do is full of Goog Thinking for you” This is their brand promise.
At Aviva, you have a lot of products to choose from like: Life Insurance, General Insurance (which includes you home and auto insurance), Accident and Health, and Asset Management. They have a total of 31 Billion Pounds of claims and benefits paid to their customers in 2015, 327 Billion Pounds in Life managed assets. They have been protecting customers for 320 years, and currently, they are in charge of 33 Million customers. So how do they do it?
They only have three successful methods on how they can meet their customers’ needs and these are:
- True Customer Composite- They are a true customer composite, offering their customers life, general and health insurance and asset management. In fact, they are the only composite of scale in the United Kingdom.
- Digital First- This is one way they capitalize on being a true customer composite by putting digital first. They have been able to think of Digital First across all of their distribution channels because it is one of the best ways that customers want to do business with them.And they met this request because they care about the needs of their customers.
- Not Everywhere- In other words, you won’t find Aviva just about anywhere. They choose and focus on a select number of markets that they believe is profitable and one that they have a scale with. This is one of the ways that they can win in regards of a distinct competitive advantage.
But even if they aren’t everywhere, this doesn’t mean that this company just stays in one country. The UK may be their largest marker and their home base, but they have also expanded to Europe. In fact, they have already established markets in France, Spain, and Italy. There are also growing markets in Poland and Turkey. They have also expanded both ways in Canada and in Asia. Canada is their second largest when it comes to general insurance. It is also one of the largest businesses in Aviva group. This one is able to provide personal and commercial insurance products to over three million policyholders. Now, in Asia, they are still growing thus they mainly operate in the life insurance market. Aviva has become one of the top foreign insurers in China. With six leading provinces and in Singapore as well. They are the largest insurers with over one million customers.
Overall, Aviva is a great company which just began by offering a fire insurance back in 1696, but look at where it has grown now. It cannot be denied that Aviva has been acknowledged as the most important insurance industry archive in the United Kingdom, and this also reflects their 300+ years of operation. What do you think of Aviva now?
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