The Insurance business is the largest part of the Saga Group. The retail broking business provides tailored insurance products and services, principally motor, home, private medical and travel insurance. Its role is to price the policies and source the lowest cost of risk, whether through the panel of home or motor underwriters or through solus arrangements for private medical and travel insurance. Our in-house insurer, Acromas Insurance Company Limited (AICL), sits on the motor and home panels and competes for that business with other panel members on equal terms. If underwritten by a third party, the product is presented as a Saga product and we will always manage the customer relationship.

Early in 2019, we relaunched our strategy in Retail Broking to focus on selling innovative, compelling, differentiated products direct to our customers and rewarding customer loyalty. To grow the number of customers and profitability of our business, we need to give our customers more reasons to come direct to Saga and to remain with us.   

Motor insurance

Saga is one of the leading providers of motor insurance solutions to the over 50s market. We have worked to capitalise on our competitive advantages within the motor insurance market to grow the number of customers and profitability of our business. These include: a direct distribution strategy supporting a low cost of acquisition; a differentiated retailer with access to our panel of underwriters; the participation on our panel of our own experienced in-house underwriter, AICL, with a clear focus and data-driven insight into a relatively low risk section of the market; and an efficient and effective claims management function.

Home insurance

We are a leading provider of home insurance for the over 50s. We operate a panel of partner companies that provide the underwriting for our products. This provides us with access to a broad range of underwriters with different areas of expertise.

Other insurance

Our other Insurance activities are driven largely by Private Medical Insurance (‘PMI’) and Travel Insurance. We focus on building products based on customer insight and ensuring the customer experience, sourcing the best possible third-party product providers in most areas.