Q3 2025 Protector Forsikring ASA Earnings Call Transcript
Key Points
- Protector Forsikring ASA (PSKRY) has successfully increased its quote rate in the UK from 38% to 44% by utilizing AI applications.
- The company is focusing on leveraging AI to solve complex tasks, which has resulted in significant efficiency gains, such as reducing the time to process health documentation from five hours to a few minutes.
- Protector Forsikring ASA (PSKRY) reported strong profitability in quarter three, despite weak growth.
- The company is investing in AI and data utilization as a core strategy, involving all employees in the process to enhance decision-making and efficiency.
- Protector Forsikring ASA (PSKRY) has a strong solvency position, allowing it to explore growth opportunities without compromising financial stability.
- The investment result for the quarter was poor in absolute terms, particularly in the equity segment.
- Protector Forsikring ASA (PSKRY) experienced weak growth in quarter three, attributed to underwriting discipline and market conditions.
- The UK property market is in a softening cycle, making it challenging to retain clients at the same rate levels and win new business.
- The transfer deal of the Danish workers' comp portfolio, expected to finalize in quarter three, has been delayed to quarter four due to regulatory subjectivities.
- The company faces high churn rates in the UK market due to the lack of support from inflationary price increases.
Hello, and welcome to the presentation of quarter-three 2025 results for Protector. As always, I want to start with who we are and a small recap of what we did this morning with all employees. The topic has, for some time, been the challenger. And it's, to us, very relevant with new technology and AI and a more uncertain future when it comes to what we -- or how we should do what we do.
So what we have done lately is to involve all employees in exploiting the opportunities with AI. And we've done that through giving access to an enterprise model through Google to absolutely everyone. So it gives the opportunity to generate agents and use AI as we know it through ChatGPT and other types of platforms.
But what we want from it is to make sure that everyone understands the value of data because when you use AI with poor or little data, then you get the wrong results. And data is our currency. It is one out of two targets we have for 2025 for the company. And we say -- we practice saying that it is our job to invest
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