Some Brits have trouble deciding which insurance company to trust. There are a lot of things to consider – how reputable the company is, how many claims it pays out yearly, and the prices matter too. So, if you are one of those people who cannot seem to decide, I have a solution for you – keep on reading! In today’s blog post, I will present to you one of the providers who offer life insurance – the Aviva insurance company.
It is safe to say that Aviva is one of the most trusted insurance providers. In the United Kingdom, it is the largest general insurer, as well as the leading life insurance company – namely, 15.5 million people in the UK have chosen Aviva for their insurance needs, meaning that Aviva covers an estimated market share of 13 %.
In addition to general and life insurance, it also deals with long-term savings products and fund management services.
A company that cares
Aviva has been operating for more than 320 years, and it continues to improve every year, actively working on ways to ensure the best possible service for its customers.
In addition to being one of the best options to choose for your insurance requirements, Aviva also cares about the future of our planet and humankind, as it is a company with a serious climate plan, trying to become carbon neutral by 2040. It also works with the British Red Cross, helping build stronger communities.
A brief history of the company
In its 326 years of operating, Aviva has gone through many changes, but one thing remains: its focus has always been the well-being of the customer.
The company was established in a merger of two British insurance firms – Norwich Union and CGU, and it was in 2002 that it adopted the name “Aviva,” which comes from the Latin word “viva” – meaning alive. After that, the company still used the name Norwich Union for a while, but since 2009, it has just been known as Aviva within the UK. In its time of operating, it has acquired many other insurance companies and expanded to several foreign markets as well.
Aviva around the world
The company is really popular in the UK, but it is also very successful elsewhere. According to D&B Hoovers, it is the largest general insurer in Ireland, as well as one of the leading casualty and property insurance providers in Canada.
It also operates in the Chinese, Indian and Singaporean markets.
What does it offer?
The company itself is a composite insurer, meaning that it is made up of several different separate business areas, thus covering lots of insurance needs.
It offers everything from motor products, which includes several varieties of car insurance (car insurance, electric car insurance, multi car insurance, ...), to home products (home insurance, building insurance, landlord and tenants and renters insurance...), pet insurance, health insurance, travel insurance, and – last but certainly not least – several types of life products (life insurance, critical illness cover, over 50 life insurance, ... ).
If you would like to find out more about each of these life products, you can read all about them in our insurance guide.
How many protection claims does the company pay out?
In 2021, Aviva announced that its total payouts amounted to £1.1 billion across its life insurance, critical illness insurance, and income protection policies. This means that last year, the company paid out 98.1 % of all the claims that were settled throughout the year.
And if we look specifically at life insurance, the company paid out 43,954 life insurance claims last year, which means that 99.4 % of all claims were settled. For the 0.6 % of claims that were not paid out, the main reasons for it were misrepresentation and definitions not being met.
Is Aviva the insurance company for you?
Aviva is a reputable and trustworthy company, so choosing it as your insurance provider is a good decision. Its wide variety of insurance options can also help you cover all your insurance needs in one place.
But if you would like to see more options or just see what Aviva has to offer in terms of quotes, you can request free quotes and compare the company in question with others that might be suitable for your needs.