Tryg (TRYG) Analyst day 2024 presentation summary

CEO introduction and strategic overview

• Focus on performance in Norway, inflation challenges, and organizational changes.

• Emphasis on preparing for CMD 2027 and engaging with investors and analysts.

• Internal roadshows and initiatives to address market dynamics.

Norway business update

• Norway contributes 22% of revenue, with private lines as the largest segment.

• Private lines have faced challenges from harsh weather, impacting combined ratios.

• Commercial lines show improved profitability through portfolio rebalancing and price increases.

• Growth driven by high-retention customer groups and targeted price adjustments in motor insurance.

Guidewire claims system transformation

• Implementation of Guidewire enables high-volume claims automation and reduces claims leakage.

• Customer satisfaction improved through faster, more automated claims journeys.

• STP (Straight Through Processing) rate increased from 24% to 54% between Q1 2021 and Q1 2024.

• Over 80% of claims are now reported digitally, with chatbot handling 90% of chats.