Our business model

Our vision

To be the world’s most trusted provider of home repairs and improvements.

Our mission

To provide home assistance membership, which frees our customers from the worry and inconvenience of emergencies, repairs and installations.

Our successful home assistance Membership model appeals to risk averse, insurance-minded customers who want to protect their home in the event of an unexpected plumbing, heating or electrical emergency. We are developing our on-demand home repair and improvement model to provide a solution for consumers who prefer not to insure home emergencies and prefer to transact online.

Strategic priority Progress in FY17 Future developments Key performance indicator
Extend long-term affinity partnerships
HomeServe is built on developing long-term affinity partnerships with brands that complement our home assistance products. We work with over 500 affinity partners and invest in business development to establish and expand new partnerships.
During FY17, rapid progress was made through signing 100 new partners in North America; renewing a significant partnership in the UK; and signing a joint venture with Edison Energia in Italy. As the Group enters FY18 we are well-placed for growth, with a strong pipeline of further partner prospects across North America, France and Spain. Affinity partner households
102m
(FY16: 92m)
Investing to deliver great customer service
Great customer service results in increased customer loyalty and higher levels of retention. Our market-leading customer service is delivered by the hard work and dedication of all our people.
During FY17, HomeServe completed a job every 14 seconds, demonstrating our commitment to our customers when they need us most. Globally, HomeServe has been recognised for customer service excellence and in FY17 won a number of customer service and employee engagement awards in the UK, North America and France. We will continue to focus on delivering great customer service to all of our customers – a result of the hard work of our engaged people. Group retention rate
82%
(FY16: 83%)
Customers are moving to more online interactions and we are developing our technology to address this. We continued to invest in our core customer system to ensure our call centres can have good conversations with our customers. The investment in our claims and deployment systems ensures our engineers can get to our customers at their time of need. We will roll out the core customer system and replace the claims handling and job deployment systems in the UK and improve the claims management systems in Spain and North America. We will continue to introduce self-serve functionality to meet customers’ expectations.
Expanding New Markets
Driving relentless innovation
We offer a range of insured home assistance products covering plumbing, heating and electrical services and continually innovate to align our product range to changing customer preferences. Demand for digital engagement at every stage of the customer journey continues, while more customers seek “smart home” products to enhance their experience.
During the year we launched LeakBot, a smart home water leak detector that enables early leak detection preventing or limiting damage to customers’ homes. We have test relationships with Aviva and RSA with promising results. We are developing a heating installation business. We will continue to invest in the testing and roll our of LeakBot and our heating installation services. Investment in New Markets
£6.0m
(FY16: £5.9m)
Entering new geographies
Utilities around the world recognise that providing home assistance services is proven to increase customer loyalty and drive higher retention rates in their core energy businesses.
During FY17, HomeServe’s Italian business agreed a joint venture with Edison Energia. We are prospecting in a number of countries and intend to form joint ventures with utilities, replicating our success with South Staffordshire Water in the UK and Veolia in France. We will continue to progress our international development plans and developing our on demand offering – Home Experts.
Developing a digital on demand service
In line with our ambition to offer a complete home repair and improvement service to a broader customer demographic we are developing our on-demand offering.
We have started to develop an online platform offering on demand services, which we call Home Experts. As part of this development, we purchased a 40% stake in Checkatrade (UK), and acquired a 70% interest in Habitissimo (Spain). Combined, these businesses bring over 45,000 approved local tradesmen to our network.