Delivering disciplined growth

We are delivering an exciting strategy that provides meaningful long-term benefits to all our stakeholders. Our goal is to transform into a higher and more sustainable margin business. This goal is supported by our continued focus on our four key strategic objectives, against which we have made considerable progress over the last 12 months. We are at an exciting point in the Group’s transformation and start 2020 having built considerable momentum through the second half of 2019.

Strategic objectives2019 progressFuture priorities
Disciplined and sustainable financial performance
  • Relentless focus on optimising the core business to generate cash to reinvest
  • Continued improvements to conversion on GoCompare to improve profitability for the segment
  • Focus on execution and going back to basics for Rewards with a controlled approach in a competitive market
  • Self-funded AutoSave investment to diversify revenue
  • Maintain disciplined and controlled approach to growing revenue and profit
  • Focus on cash generation to reinvest into the business to deliver considerable long-term shareholder value
  • Drive long-term sustainability of the Group by aiming to help more customers, save more time and more money
Investment in GoCompare
  • Launched new proposition offering free £250 excess protection for car insurance customers, strengthening GoCompare’s position as the comparison service that looks after its customers at every stage of the insurance buying process
  • New advertising campaign and creative that recognises the importance of trust for our customers and underpins our belief that the ‘right insurance always costs you less’
  • Extend new brand proposition to support customers through the insurance buying process and to help drive retention
  • Build upon GoCompare’s momentum of car insurance revenue growth in Q4 2019, with marketing prioritised on above-theline investment, eg television, to improve preference and drive sustainable growth
Innovation into AutoSave to unlock growth
  • Full consumer launch of weflip and acquisition of Look After My Bills to be one of the leading providers of automated savings in the market
  • Strong growth in customers to achieve in excess of 300,000 live customers as of 31 December 2019
  • 2019 growth demonstrates the consumer appetite for the proposition and places the Group in a strong position in 2020
  • Continue to grow the number of AutoSave customers
  • Focus on improving lifetime value through higher retention and sustainable increases to customer monetisation
Transformation into a tech-led business
  • Strengthened technology leadership with appointment of new Group CTO
  • Continued development of our proprietary tech platform SaveStack™, a service-based architecture enabling scalability and agility
  • Integration of SaveStack technology into leading banking apps, Virgin Money and Bud, demonstrates potential for new distribution channels
  • Further develop SaveStack™ utilising Group data to serve the most relevant savings opportunities to our customers
  • Unrelenting approach to efficacy across the Group and ensuring the technology function is operating as efficiently and effectively as possible