Aviva’s parliamentary reception

Speaking at Aviva’s New Year reception in Parliament, Andrew Moss, group chief executive addressed MPs, Lords and other invited guests. He set out what is distinctive about Aviva and how we could work with politicians and policy makers in helping address serious issues on pensions, savings and protection. The event, which was hosted by Norwich South MP Simon Wright, was attended by over 70 MPs.

Read Andrew Moss’s speech:

Thanks for joining us this evening for Aviva’s New Year Parliamentary reception.  These occasions are genuinely useful to meet with you and discuss issues of common interest. I just want to say a few things tonight about who we are, what is distinctive about Aviva and how we can work with you.

Our business is about providing prosperity and peace of mind to our customers.  We do this by providing products that help people save for retirement and help protect them against accident and misfortune that may befall them in their lives.

We are distinct in that we are the only major British insurer offering both life insurance and pensions as well as general insurance for cars, homes, travel.

We are the largest British insurer and a major global player, operating in Europe, North America and Asia. With around 53 million customers worldwide. And we are a major asset manager.

The UK is a vital market where – even in what people have already tonight pointed out are difficult economic times – we intend to invest and grow. We have over 20,000 UK employees here, with strong roots in Norwich, York, Scotland and other parts of the country.

One of the things that is distinctive about Aviva is our commitment to putting customers at the heart of our business. Our customer promise is: no one recognises you like Aviva.

And it is an important part of how we measure success is how our customers feel about us. In fact, many of my colleagues here have part of their pay based on what customers think about Aviva each year.

The brand change over the last few years has been about building a single identity for the business and a consistent and improved experience for our customers.

We also have a strong community role: Through our Street to School programme we are forming partnerships with leading charities and experts whose work focuses on meeting the needs of children living and working on the streets.

It is a five year commitment from Aviva to support initiatives that help and encourage these children back into school or training programmes; and help our partners raise awareness about the plight of street children. And customers are taking part too.

And we’re also a major sponsor of sport and arts in the UK. Tonight we have the Aviva Rugby Premiereship Cup on display and are delighted to welcome Chris Robshaw and Ugo Monye from Quins – both England capped rugby players. 

Turning to a more serious point. As an industry, insurance is very different to other financial services – and dare I say it, banking.

Not only were we not a major part of the financial crisis, the long-term nature of our business and investments contributes to stability within the system.

As an industry we are responsible for investments of £1.6 trillion; and own over 13% of investment in the London Stock Exchange. Not to mention, a major contributor to the UK’s tax take. The industry contributed over £8 billion in taxes in 2008/09.

Going forward, it’s crucial that the new regulatory structure properly recognises the distinctiveness of insurance from other parts of the financial services.

But finally, I want to talk to you tonight about how we can work with you.

Our products cover many areas of public policy – pensions, protection, flooding – to name just a few. We have expertise and experience that can help inform good policy making.

Because we serve 19 million people in the UK – equivalent to half the total electorate – we have developed insight and understanding about our customers’ concerns – which we want to share.

For example, our Real Retirement report is a quarterly analysis of the finances and related concerns of people who have retired or are approaching retirement. We want to make this insight available to Parliamentarians and policy makers – and there are copies available here tonight. The message that comes through loudly in this latest report is that: there is a significant increase in the number of over-55s who are worried about the rising cost of living.

And we want to work in partnership with government to help provide protection to people in uncertain times, to explore the role insurance companies can play in addressing challenge of long-term care and, of course, encouraging more long-term savings and pensions. 

And we have set up our Future Prosperity Panel – a group of independent international thinkers – to develop fresh thinking on the whole area of saving and how this can build prosperity globally. In the months ahead we’re looking forward to sharing these ideas and proposals with you.

So there’s plenty that we want to talk to you about this evening and on an ongoing basis. You will notice from the name badges that there are a number of representatives from Aviva here this evening.  

I’ve spoken enough, but I want to leave you with one quote from one of our most famous and loyal customers:

“If I had my way, I would write the word 'insure' upon the door of every cottage and upon the blotting book of every public man, because I am convinced, for sacrifices so small, families and estates can be protected against catastrophes which would otherwise smash them up forever.”

The sentiment is exactly right. The quote is from the former Prime Minister Winston Churchill, a long-term and loyal customer of Aviva.  

So loyal, in fact, that in his later years we insured him for free. But please don’t have that as an invitation. It’s not a service we offer widely.

Thank you very much for coming tonight and for listening. I hope you enjoy your evening.