Direct Line
Line
- David Stachon (CEO)
- Christian Paul Sooth, Antony Compton (Board)
- James Brown (Chairman)
The Direct Line Versicherung AG is part of the British RBS Insurance division and a subsidiary of the Royal Bank of Scotland (RBS ).
The brand name " Direct Line " goes back to the British Direct Line, which was founded in 1985 in the UK. Direct Line UK developed, based in Croydon for the largest direct insurer in the UK motor insurance market. Currently, Direct Line is active with insurance activities in Germany and Italy outside the UK.
On March 12, 2013 it was announced that RBS has given up its majority stake in Direct Line through a sale of 15.3 percent of its stock shares. In October 2012, RBS had already separated from 30 percent of its shares. After the sale, RBS holds 49.99 percent stake in Direct Line.
History of Direct Line in Germany
The Direct Line Versicherung AG, headquartered in Teltow, Brandenburg near Berlin is one of the largest direct insurance companies in Germany. The company is active since 2002 under the red phone on the German market and offers car and motorcycle insurance as well as traffic legal protection insurance and personal liability and private legal protection insurance. The typical subject in commercials of Direct Line Versicherung AG is a red telephone on wheels, which is supplemented in the company logo to a red computer mouse on wheels. Direct Line Insurance distributes its products primarily via phone and internet, but also through partnerships with other companies.
Board and staff
The company is managed by the extended board circle to the Chief Executive Officer David Stachon. Its predecessors were Uwe Schumacher (2008 to 2012) and Albrecht Kiel (2003 to 2008).
Products
In the German insurance market, the Direct Line Versicherung AG develops more and more from a pure motor insurer for multi-line insurance. In 2002, the company launched under the red phone in the distribution of motor insurance products ( auto liability, comprehensive insurance and full comprehensive insurance and letter of protection and motor vehicle accident insurance) and resulted in Germany for the first time the second car Tariff. The second car has benefited from the good " percentage " ( claims category ) of the Erstwagens, even if the first car is not insured by Direct Line. Were usually made at that time for a second car entry with a claims category SF ½ with a contribution rate of 130 percent. In 2005, the Direct Line expanded its product range to include traffic legal protection insurance, followed in 2006 by private legal expenses and personal liability insurance. 2007 the motorcycle insurance and the second car tariff for motorcycle insurance added as new products.
Sales and collaborations
The Direct Line sells its insurance products as a direct insurer classic over the phone. Another well-known sales and communication channel also provides the net, from 2004 to 2008, the share of new business on the internet from 15 percent to 50 percent.
In addition to the main distribution channels telephone and Internet Direct Line sets in sales since 2004 increasingly on partnerships. So there was a collaboration with the PSD Banks mediated by the Insurance DeTeAssekuranz, a subsidiary of Deutsche Telekom. This was followed by collaborations with RCI Banque, the financial servicing of Renault and Nissan, and the FFS Group, the financial partner of Hyundai and Subaru, Karstadt Quelle Finanz-Service and the financial service provider MLP. Since 2008, Direct Line will participate in the bonus program Payback. Another partner is, since 2008, the online marketer Henrex and DEMA German Insurance AG.
In the area of protection of mail business Direct Line cooperates with the Roland legal expenses insurance and AG in the field of traffic legal protection with the Jurpartner legal expenses insurance AG since 2005.
Furthermore, there are partnerships with FidesSecur, Inobroker, the property pool and Interlink. For property, pool and Interlink are partnerships whose foundation stone was laid only in the course of 2010. There were collaborations with Conopera, DMU and Innofinance. Since September 2011, Direct Line also one of the first direct insurer is in the portfolio of AWD Germany.
Sales development
Since its launch at the red phone in 2002, Direct Line Versicherung AG has reached double figures in Germany in the highly competitive automobile insurance market. Premium income in 2002 was at just over € 60 million.
In fiscal 2007, the company reached with premium income of € 117.4 million and a balanced result of € 0.1 million profit in accordance with IFRS. The insurance portfolio in the main motor line came at the end of 2007 to around 297,000 vehicles.
In 2008, took over the Direct Line Car Insurance Inventory of competitor Ontos direct insurance RheinLand Insurance Group, consisting of an annual premium income of around € 30 million had around 80,000 insured vehicles. The motor insurance policies were integrated into the treasury. In 2008, premium income of Direct Line amounted to € 128 million, profit before tax rose to € 0.3 million. In motor insurance portfolio end of 2008 was 401 131 vehicles.
2010, the direct insurer for the first time reached the break-even by commercial law accounting. With gross premium income of 150.6 million euros, a gain of EUR 0.7 million was earned before transfer of profits.
Memberships
- German Direct Marketing Association e.V., Wiesbaden
Italy
The Italian Direct Line, based in Milan, is a subsidiary of Direct Line UK. The Direct Line Italy since 2002 has been on the market and is the second largest Italian direct motor insurers.
Spain
The Spanish company Línea Directa Aseguradora is Spain's largest direct insurer in motor insurance and belongs to the Spanish bank Bankinter.