Aviva is one of the largest and oldest insurance companies in the UK, with a presence in several international markets, particularly in the UK, Ireland, and Canada. Here’s a detailed overview of the company:
1. History and Background
Founded: Aviva’s roots go back over 300 years, with its formation resulting from a merger of two leading insurers: Norwich Union and CGU plc in 2000. The company was rebranded as Aviva in 2002
Headquarters: London, UK.
Global Presence: Aviva operates across several countries, with its main markets in the UK, Ireland, and Canada.
2. Products and Services
Aviva offers a wide range of products in the insurance and financial sectors:
Insurance Products:
Motor Insurance: Car, van, and multi-car insurance policies.
Home Insurance: Buildings, contents, landlord, and tenants insurance.
Life Insurance: Term life insurance, critical illness cover, and over-50s life cover.
Health Insurance: Comprehensive health coverage, including dental, optical, and travel health insurance
Travel Insurance: Policies that cover trips, cancellations, and medical emergencies.
Business Insurance: Tailored insurance for small businesses, public liability, and more.
Financial Products:
Savings and Investments: Self-invested personal pensions (SIPPs), ISAs, and general investment accounts.
Retirement: Annuities, equity release, and retirement planning
Wealth Management: Aviva offers various wealth management services, including financial advice and investment solutions
3. Customer Service and Accessibility
Aviva offers multiple customer service options, including:
MyAviva App: A platform for customers to manage their policies, make claims, and track investments
24/7 Helpline: Aviva provides round-the-clock customer support for emergencies like home or vehicle issues
Online Services: Customers can make claims, get quotes, and manage policies through Aviva’s user-friendly website
4. Corporate Responsibility
Aviva is committed to corporate social responsibility, with a focus on sustainability and community engagement. The company has set targets to reduce its carbon footprint and has taken steps to integrate ESG (Environmental, Social, Governance) principles into its business model.
5. Recent Developments
Anti-Fraud Measures: Aviva has enhanced its fraud detection capabilities, reporting a 39% increase in detected fraudulent claims in 2023
New Products: Aviva has expanded its product range, including the launch of a Junior ISA with zero platform fees.
Pension Schemes: Aviva recently completed a £165 million bulk annuity buy-in for a UK occupational pension scheme.
6. Reputation
Trustpilot Rating: Aviva holds a 4.5/5 rating on Trustpilot, with over 26,600 reviews. The majority of customers praise the company for its competitive pricing and easy-to-use online services, though there are some complaints about customer service
7. Leadership
Aviva’s leadership team consists of experienced executives and a board focused on driving the company’s long-term growth. They emphasize innovation and customer satisfaction in their strategy.
In summary, Aviva is a major player in the insurance industry, known for its wide range of insurance and financial products, customer service, and commitment to sustainability.
