Strategy

Strengthening the core, while embracing the future

2017 marked the end of one strategy period and the beginning of another. Along with af new strategy, an overarching purpose was launched, pointing into the future for Tryg. 

New targets - same solid foundation

Tryg's new 2020 strategy launched in autumn 2017, picks up where where the old strategy left off. This means that Tryg will continue its focus on ensuring strong financial performance, on developing the best customer experience and on operational excellence. 

Four themes, which all build in our strong foundation, are at the core of our new strategy. It is these strategic initiatives that will support both our financial and customer targets.

Strategic initiatives 2018-2020

Claims excellence

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

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 per cent of all claims online as well as a self-service level of 70 per cent for all enquiries. Realising these targets is expected to contribute DKK 100m, as well as boosting customer satisfaction.

Product & service innovation

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.

Tryg's 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

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.

Ambitious financial targets 2020


At the Capital Markets Day in November 2017, Tryg announced new ambitious targets for the period up until 2020.

The targets were updated following the acquisition of Alka Forsikring. 

DKK 3.3 bn
Technical result
~14
Expense ratio
≤ 86
Combined ratio
≥ 21
Return on equity after tax

A new purpose 

As an element in the development a new strategy, a new overarching purpose has been defined for Tryg.  

As the world changes, we make it easier to be 'tryg'
- The purpose of Tryg

Strategy and purpose go hand in hand
Where our purpose is a constant guiding principles, our strategy focuses on targets and actions for a specifik period of time.