Gjensidige (GJF) Investor Update summary

Claims savings programme

• Launched in 2023 with a NOK 800m target by 2026; NOK 812m had been realised by January 2025, two years ahead of schedule.

• 75% of savings came from Norway and the remainder from Denmark; initiatives used data-driven approaches, operational enhancements and collaboration across divisions and partners.

• Programme focused on fraud prevention, procurement, operational excellence and RedGo initiatives.

Fraud and procurement

• AI-powered fraud prevention saved NOK 71m in Norway and identified AI-generated fraudulent documents; controlled cases rose 186% and hit rates 65% from 2022 to 2024.

• Procurement initiatives generated NOK 248m in savings across Norway and Denmark, including supplier renegotiations and optimized partner networks.

• Automated steering to preferred workshops and increased repair share reduced average repair costs; Danish health insurance average claim costs fell 9%, while new Turkey travel partners reduced invoices by up to 50%.

Operational excellence and technology

• Operational excellence generated NOK 425m in savings; property claims were reorganised and AI tools introduced for recourse assessment.

• Targeted initiatives across 12 categories, including property and motor claims, generated NOK 420m in savings.

• Digital health insurance claims reporting reached 99% in Norway and 89% in Denmark; image recognition and automated processing are planned to further optimise motor claims.

• AI, automation and analytics are being expanded across claims handling, alongside plans to scale fraud models and document-forgery detection.