This year, Danish ICMIF member LB Forsikring will pay out DKK 148 million as a loyalty discount to its members. This brings the total payment in yearly discounts to more than DKK 1.1 billion over the course of the last decade. A decade which has also seen uninterrupted membership growth for the insurance company.
This will come as something of an early Christmas present on 21 December 2020 for the loyal members of LB Forsikring. The insurance company will pay its loyalty discount to members who have had their contents insurance with Lærerstandens Brandforsikring, Runa Forsikring or Bauta Forsikring for more than three years.
Anne Mette Toftegaard, CEO, LB Forsikring says: “LB Forsikring is built on the idea of community. This has been the case since 1880, when a handful of teachers on Møn came together to insure each other against fire damage, and this remains the case today. Therefore, it is also natural that we reward the members for staying in the community”.
The size of the loyalty discount for the coming year is determined every December by the board of LB Forsikring. It is therefore already set for 2021. All members who have had uninterrupted contents insurance for three years will receive the discount. It is the contents insurance that gives access to the discount, but members also get a discount on virtually all the insurances they can take out with LB Forsikring.
“We are probably one of the only insurance companies in Denmark that can say that we have had uninterrupted membership growth for 140 years. Also, in the last ten years our community has grown steadily. But we will only continue to grow if our members continue to choose us every year. This reminds us of the Loyalty Discount every year,” says Anne Mette Toftegaard
With this year’s Loyalty Discount, LB Forsikring will have paid out just over DKK 1.1 billion to its members since 2010. Because the size of the discount has already been decided the year before, the various challenges of 2020 have not had any effect on it.
“2020 has in many ways been a very different year, also financially. But as it looks now, it looks like we will come end 2020 balanced. Then it is with an extra nice feeling that we give the promised loyalty discount as an early Christmas gift to the members,” concludes Anne Mette Toftegaard.