1: A year of transformation
2: Our financial numbers
3: Product development
4: Embracing change
5: What the future holds
A year of transformation
A look back at our growth story
Investing for growth
Acquisition of Blink, an innovative InsureTech company, to drive product and technology capability.
Commitment to our business partner heartland
We refocused our strategy to B2B2C and introduced organisational changes giving our country operations greater commercial freedom.
Sale of Head Office in York completed, realising £5.3m cash, allowing for investment in innovation and our organisational structure.
De-centralised organisational structure implemented, resulting in our countries having more autonomy to meet local partner and consumer needs.
Continued investment in people and culture
Opened our International Support Centre in Leeds as we create a new culture for growth.
Regulated product permissions
FCA permissions granted for Blink; enabling us to sell regulated products in the UK market again.
Our financial numbers
Our performance this year speaks volumes
- 2015 75% 75%
- 2016 65% 65%
- 2017 100% 100%
- 2015 40% 40%
- 2016 60% 60%
- 2017 100% 100%
Underlying operating profit
- 2015 75% 75%
- 2016 100% 100%
- 2017 60% 60%
Reported profit for the year
(continuing & discontinued operations)
- 2015 100% 100%
- 2016 0% 0%
- 2017 40% 40%
India and Turkey stole the show
Through new bespoke products and incredible business partner relationships, CPP India grew their revenue by 164%!
CPP Turkey has also shown good progress in the year again through developing strong and trusted business partner relationships and enhancing channel capability.
“We have partnered with CPP India for the last seven years to offer our customers enhanced security benefits on their cards. CPP's product augments the value proposition we bring to our customers. We have had a successful association with CPP and appreciate the support of the local leadership team. We look forward to growing the partnership in our endeavor to offer market leading, secure payments solutions to our customers.”
“Partnering with CPP India for the last three years has been a prolific journey. We have launched multiple products across customer segments, including FoneSafe and Asset Care. The partnership has grown significantly in that time and we expect our relationship to continue to be successful. We are impressed by the product innovation that CPP has brought in our cross-sell business, by seamlessly stitching together consumer preferences and business partner objectives within a governance framework.”
Bajaj Finance Ltd
“We have successfully implemented a multi-channel, multi-product strategy in our partnership with CPP Turkey, which has been going on for nearly 10 years. Behind this success, confidence and team work have been the key factors.
CPP is one of the most important parts of our Bancassurance Non-Life Insurance, with effective use of branch, direct sales and outbound telemarketing channels along with successful campaign management.”
The big trends that shape our creativity
Power to fix
Flight Disruption Insurance
Mobile Phone Insurance
Confidence to connect
Freedom to explore
One Call SOS
This year we made some big changes and decisions
We changed our focus
We decided to focus back on our heartland of making our business partners happy and helping their customers live life free from day to day stresses.
Power to our people!
We now have 40 colleagues forming part of our Accelerant programme - all about developing change agents for our business to accelerate performance and drive growth.
We worked together to co-create evolved Values based on what our colleagues told us:
What the future holds
It's fast approaching and we're ready for it
Focus on our partner relationships
We will focus on deepening relationships with business partners to deliver compelling, innovative products and services to their customers.
Cultural and organisational change
We will operate a decentralised model that provides greater responsibility and accountability for local leaders and enables efficient delivery of services and products that meet local needs.
Investment in growth markets
Through Blink we will re-enter the UK market in 2018 with a revitalised distribution and product strategy which will be a significant milestone for the business.
Realignment of mature markets
We have made operational improvements in Southern Europe, bringing Italy and Portugal into a hub model led by Spain, and we have brought our Malaysian operation into our Indian hub.
During the middle of 2018, we will incorporate CPP Bangladesh, a market which we have not previously explored and where we see great potential. We will also continue our investment in key markets, such as China, where the greatest growth and strategic opportunities exist.
We will invest in product, technology and the customer experience. This will include organic product innovation, strategic partnerships or acquisitions where it will enhance the Group’s existing capability.
Thanks to our fantastic people, business partners, customers and innovation partners for making it an incredible year!
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