Strategy in the Netherlands
The Netherlands is one of the most mature insurance markets in Europe. All near to medium-term indications are that the total Dutch insurance market can expect only limited growth and even a decline in some business lines. There is little opportunity for growth through merger and acquisition. This market reality informs our strategic multi-brand, multi-distribution channel approach; our aim is quality rather than price leadership. The combination of more demanding customers and competition means we must push forward with the service models already under development. Our aim is to ensure that customers understand we have translated their demands into more transparent products, lower costs, improved service and real focus on innovation. This involves continued innovation in our value propositions and streamlining systems. In spite of the current economic environment, we have retained our innovation budget in 2009 as we see it as a cornerstone of (financial) continuity.