Danske Bank and Tryg have entered into a new strategic Nordic partnership in Denmark, Norway and Sweden. Under the agreement, Danske Bank, in concert with Tryg, will start offering general insurance to Danske Bank’s personal, private banking and business customers in Denmark and Norway and to personal customers in Sweden in the spring of 2019.
“Tryg has a very strong range of competitive and unique products and solutions that we look forward to offering our customers in the three Nordic markets,” says Jesper Nielsen, Interim CEO of Danske Bank. “In Denmark, the cooperation means, for instance, that customers choosing to take out insurance with Tryg will have a share in TryghedsGruppen’s bonus scheme in which 8% of premiums have been repaid to Tryg’s customers in the past three years.”
With three million customers, Tryg is one of the largest insurance companies in the Nordic countries, anchored in Denmark, Norway and Sweden. Jesper Nielsen points out that the partnership means that Danske Bank and Tryg are committed to developing new digital solutions for the benefit of the customers of both parties.
Visions in terms of innovation
“It has been essential to us that Tryg is also a pioneer and has great visions in terms of innovation, digitalisation and coherent customer experiences in the Nordic region with focus on increasing their customers’ feeling of security. These are areas in which I am convinced that we are a perfect match for each other. They will provide the optimum starting point for our development of solutions and services that will create good customer experiences in future, also in relation to insurance,” says Jesper Nielsen.
Among other things, he highlights Tryg’s special focus on prevention in relation to which Tryg has developed new behaviour-based car insurance policies, for example, which reward policyholders for good driving behaviour, and offers of free installation of home alarm systems. As a customer of Tryg, you automatically join TryghedsGruppen, which spends DKK 600 million every year on projects promoting safety, health and well-being in Denmark through TrygFonden.
The agreement with Tryg means that Danske Bank’s agreement with Topdanmark will be terminated. Until 1 January 2020, Danske Bank and Topdanmark will be continuing their cooperation on the customers having taken out insurance through Danske Forsikring.
“We have been very satisfied with our cooperation with Topdanmark in the Danish market. But we have assessed that we will be able to achieve considerable synergies by choosing Tryg as our strategic insurance partner as Tryg is anchored in three of the four Nordic markets where we are also present,” ends Jesper Nielsen.