Línea Directa Aseguradora, a company that directly sells insurance and that is wholly owned by Bankinter, once again posted record high figures in terms of turnover, profit and portfolio. The volume of premiums issued in 2017 totalled 797 million euros, up 7.9% on 2016. The strong performance of the auto insurance segment (+7.3%) contributed to this increase, which consolidated Línea Directa's position as one of the fastest-growing companies in the sector. The home insurance business also significantly increased its turnover (+13.5%), which is also well above the sector average.
This commercial strength made it possible to end the year with a portfolio of 2.79 million customers, which, together with its risk management policy, enabled it to obtain a pre-tax profit of 152 million euros: a new record for the company. Línea Directa is also one of the most efficient and profitable companies in the auto insurance sector, with a return on equity (ROE) of more than 35% and a combined ratio (which relates expenses and premiums) of 86.9%.
Since its creation in 1995, Línea Directa has maintained one of the highest growth rates in the sector, thanks to a large extent to maximising the advantages of its business model, which, after dispensing with the brokerage fees and branch networks, is able to offer a high quality product at very competitive prices, since a portion of its savings in operating costs is transferred to the end customer.
The Línea Directa Foundation, which centres its activity on promoting road safety, carried out three surveys in 2017, along with the Spanish Foundation for Road Safety. These reports, which gained widespread coverage in the media, dealt with road crime in Spain, the influence of sleepiness on accidents and the impact of those people injured by traffic accidents on road safety.
The Foundation also organised the 14th Road Safety Journalism Prize, a contest that recognises the importance of the media's work in preventing traffic accidents, in which almost 2,000 entries were received, which makes it one of Spain's major journalism prizes.
The Ministry of the Interior and the Directorate General of Traffic (DGT) awarded the Línea Directa Foundation the Road Safety Medal of Merit, an award which recognises commitment to preventing traffic accidents, and the dedication and professionalism of the various State bodies and security forces.
Línea Directa Aseguradora is the leading company in direct insurance sales in Spain, with a market share of almost 60% among disintermediated companies. Furthermore, it is ranked fifth among auto insurance companies in terms of volume of premiums and sixteenth in home insurance.
Línea Directa's major development for the year was the launch of its new health insurance brand, Vivaz, in September. This new product was launched with the aim of becoming a benchmark in simplicity, efficiency and quality, focusing on providing comprehensive health care for people. To help achieve this, it has a medical team of over 30,000 professionals and 1,000 medical facilities, with a wide range of cover, such as diagnostics, hospitalisation, surgery or psychology sessions. The insurance costs up to 400 euros less than the market average.
The new brand clearly has a digital focus and its priority is to make the customer's life easier. It therefore reduces the number of tests that require pre-authorisation by up to 60%. It also allows the insured party to manage their policy through an app that has several functionalities: digital health insurance card, search for specialists by symptom or geolocation, possibility of speaking to a doctor 24 hours a day, and online bill payment, among many other advantages.
Línea Directa Aseguradora ended the year with a pre-tax profit of 152 million euros, the highest in its history.
Twenty-two years after its creation, Línea Directa is one of the most solid, responsible and recognised companies in the country. In 2017, it was ranked 40th on the Merco Empresas list, one of the most important reputation rankings in the business world, which represents an improvement of 10 places from a year earlier. It was also ranked 41st on the Merco Talento ranking, which analyses the best brands used in Spain, and ranked 69th on the Merco RSC ranking, which assesses the various corporate social responsibility policies.
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