Good day and welcome to the Gjensidige Mobility Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mitra Negård, Head of IR. Please go ahead, ma'am. Just a moment. Ladies and gentlemen, we apologize for the interruption. We're having a slight interruption, and we will be coming back very shortly to you. Please stand by. We will resume the conference shortly. Thank you so much for your patience, and we apologize for this. Thank you. Ladies and gentlemen, thank you for your patience. Once again, please welcome to the Gjensidige Mobility Conference Call. Today's conference is being recorded, and I would like to turn the conference over to Mitra Negård, Head of IR. Please go ahead, ma'am. Thank you. Good morning, everyone, and thank you for joining us on the first of a few insight sessions we plan to run the rest of the year and into the next. My name is Mitra Negård, and I'm Head of IR. The topic of today's session is Gjensidige ambitions in the mobility space and how we have and will continue to seize attractive opportunities in the wake of a changing landscape. With me here today are our two speakers, our CEO, Helge Leiro Baastad, and our Executive Vice President and leader of the private segment, René Fløystøl. The presentations will take approximately 20 minutes. We will open up for questions after the presentations. Our CFO, Jostein Amdal, will join us in this session together with the speakers. This webcast is being recorded and will be posted on our website later today. The presentation slides were made available on our site this morning. Without further ado, I hand the word over to Helge. Thank you, Mitra, and good morning, everyone. My name is Helge Leiro Baastad, and I'm CEO in Gjensidige. The mobility industry is changing, shaped by new customer needs and preferences in combination with technological development. We expect a rise of new mobility ecosystems with interconnected value chains, creating exciting dynamics and giving us the opportunity to take an even more relevant place in our customers' lives. Gjensidige has a strong starting point to seize the right emerging opportunities with the trust we have built among our customers over the past 200 years, securing lives, health and assets. During the past 3 years, we have invested in a few companies and launched several initiatives to further strengthen our position in the mobility space. Our key priority over the next years is to maintain and further strengthen our direct customer relationship. We will pursue an even deeper customer insight through data and advanced analytics and take an increasingly holistic approach to meet our customers' needs. We have strong growth ambitions, which is crucial for maintaining our strong competitive position. Our acquisitions of toll companies, roadside assistance, and the investment in MyCar Group will all strengthen our position further. I will hand over the word to René now to share with you our exciting initiatives which will ensure that we are a preferred problem solver for our customers and remain the preferred partners in alliances with key players in the future mobility space. Thank you, Helge. Good morning, everyone. My name is René Fløystøl, and I'm responsible for Gjensidige's private segment in Norway. I am looking very much forward to sharing our thoughts on how we will make sure that Gjensidige will continue to be the leading Motor insurance provider in Norway and further strengthen our position outside Norway. Motor insurance is the largest and most profitable product in our portfolio, and it is the most important product for cross-selling other insurance products. New trends and changing market dynamics provide exciting opportunities in a market space where we already have a very strong foothold. We have recently taken a few innovative first steps to further strengthen and develop our distribution power. We are broadening our role within the mobility space with new services complementing our wide range of insurance products. Our aim is to further increase our relevance towards both private and commercial customers and maintain high customer loyalty. We expect the new services to contribute positively to profits, both in the short and medium term. The new services are adding to our insurance profits already from the start. They strengthen our uniqueness and value proposition towards our customers. We are establishing a scalable platform which makes it easier to develop innovative new products and services. Last but not least, we are strengthening our relevance as a partner towards the mobility industry. Strategic alliances will become increasingly important going forward, not only in the mobility space, but also when solving other customers needs within health or at home. Our overarching goal is to further strengthen our position and ensure a key role for Gjensidige in the future mobility space. We will succeed, thanks to our very strong brand and CRM capabilities, large customer base, extensive partner network and distribution power. Over to page six. The mobility space is changing. Existing and new players are increasingly seeking leading positions in the future ecosystems. Car producers are gradually taking on new roles in the new car value chain, seeking to strengthen their relationship with the end user. As a consequence of this, car dealers will be tapping further into the second hand market. Completely new players are entering the scene. Embedded insurance solutions are also gathering momentum. The new constellations, ecosystems and distribution channels create very interesting opportunities for us. We monitor the development closely, and through our efforts, we will ensure that Gjensidige has a key position in relevant ecosystems. We will emphasize that our role also in the future will secure that. We will continue to have the direct relationship with end customers, and that we will continue to be an attractive strategic partner for other key players in the mobility industry. What are our customers' mobility needs and how do we deliver on these? Let us turn over to page seven. We can divide the customer's journey into five main stages. It's getting a car, using the car, service, damage and claims, and finally selling or condemning. We on our own or through important partners have products and services within all of the five stages. These are examples of strong partners, and we aim to include more of our existing partners in the future. We will continue to develop new offerings to ensure that we are relevant partner for our customers. Through Falck, Flyt and Gjensidige, we have a direct relationship with over 50% of the car owners in Norway. That's a strong starting point for expanding our deliveries. Building on these assets, we aim to deliver the ecosystem needed to facilitate car ownership in the future. Moving on to page eight. Our recent moves in the mobility space with the acquisition of Flyt, Falck, MyCar Group and Schyst will further strengthen our foundation to secure our insurance position in the long term. The acquisitions we have made not only strengthen our strategic long term position towards both private and commercial customers. We also see significant synergy potential to be realized in the short term, thanks to further strengthening our distribution power, cost efficiency gains as a consequence of enhanced tariffing and reduced claim cost, and further increase in customer retention. Let me elaborate by going through our latest acquisitions. I will start with Flyt on page 10. The toll service provider, Flyt, opens up a whole new distribution channel for us, giving possible access to more than 1 million cars and 770,000 customers in Norway. Car owners have the highest likelihood to switch insurance provider during the first few weeks after buying a car. The registration of tags may give us early access to this information, and thus the possibility to identify relevant customers at the right point of time. If given access, we will tap into Flyt's large customer base and expect a significant addition to our motor insurance sales. The administration of toll tags will also increase our touchpoint frequency with customers, which in turn gives us the opportunity to strengthen our relationship and through that, increase customer retention. Flyt also comes with over 1 million installed tags. These are actually mini computers, which can be utilized to develop a whole new range of products and services, and that is exactly what we are looking into. How we can develop an even broader and highly unique value proposition towards our customers with a focus on solving their problems. We are very excited to explore the opportunities which lie in here. To mention a few, we see possibilities in telematics aiming to reduce accidents. We see the potential for new payment solutions. SOS alerts to our alarm center is another exciting possibility we are looking into. Our focus will be to provide our customers with rapid response and limit damages. These new services will not only broaden our product and service offering, but also support our overarching goal to prevent damages from happening in the first place to the benefit of the planet, our customers and Gjensidige. Over to Falck on page twelve. Roadside assistance is a key element in the claims process. Falck RSA Nordic & Baltics is a leading roadside assistance provider with nationwide franchise networks in Sweden, Norway, Finland, Estonia and Lithuania. The integration of Falck means that we are now first at a damage site with our own in-house road assistance service. Control over this important part of the claims handling process will contribute to higher cost efficiency and even better service to our insurance customers. We expect to see improved fraud detection, a higher share of SMART repairs, cash settlement and most importantly, improved steering to our partner repair shops. In addition to these savings, we expect the steering and higher share of repairs at our partner repair shops to reduce the carbon footprint from claims handling through increased use of secondhand parts and more efficient repair methods. Falck also gives us a starting point to develop new products and services related to both insurance and roadside assistance, such as repair service and service at home solutions. We will operate Falck as a separate entity in the group, allowing the company to continue offering its services to other insurance companies, although with an enhanced focus on efficiency and sustainability. Let us look into MyCar Group on page 14. This is a recent investment we made, acquiring a 33% stake in this company in May. The secondhand car market is the largest source of motor insurance sales. MyCar Group has currently a small share of all secondhand car transactions in Norway, but with significant growth plans, all car sales through MyCar Group's dealer network are bundled together with an offering to buy motor insurance from Gjensidige. We are also looking into developing a used car guarantee insurance product. MyCar Group also consists of a network of 8 repair shops, which are in the process of being integrated into our partner network. The agreement will ensure competitive prices on spare parts and hourly rates. We will also be looking into the benefits of a more integrated and data-driven claims value chain going forward and how information flow and integration can improve the customer experience, reduce lead time and improve cost efficiency. Let us move on to page 15 for a few comments on Schyst, which we have spoken about earlier. As you know, Schyst is a car subscription platform in Sweden we invested into back in 2019, developed by Gjensidige together with our partner, Hedin Bil. We have a fleet of around 100 cars operating in Stockholm and Uppsala. Schyst is a pilot project providing us with valuable insights into the dynamics of future fleet-based insurance, including pricing structures, claims prediction, and damage prevention initiatives. Going forward, we will focus on optimizing Schyst's operational model and seek partners for growth and concept development. We are also looking into expanding into our other markets as well as looking into the potential within the commercial segment. Over to page 16. Flyt, Falck, MyCar Group, and Schyst all add to our earnings on a standalone basis. Falck recorded a profit before tax and interest expenses of NOK 82 million last year. We expect this to increase to around NOK 90 million this year. Following additional volumes from Gjensidige and Flyt with effects from last quarter, 2022. We also expect a positive contribution from ongoing cost initiatives from next year. Flyt, our one-third of MyCar Group and Schyst are expected to deliver profit before tax somewhere in the range of NOK 20 million-NOK 30 million this year. Our key motivation behind this acquisition is to support our core business, attract new customers, increase loyalty among existing customers, reduce claim cost, and add to our operational efficiency going forward. Tapping into Flyt, Falck, and MyCar Group's customer bases, we expect to increase our motor insurance sales in Norway by roughly 12,000 policies a year or approximately NOK 120 million in premiums from 2023. This alone is estimated to raise our underwriting result by NOK 40 million. In addition, we expect to lower our annual claims cost by approximately NOK 100-NOK 150 million starting from the second half next year and with full annual impact from 2024. This brings us up to a total annual increase in the group underwriting result of somewhere between NOK 140 million and NOK 190 million. In addition, we expect longer customer duration and cross-selling to provide further earning support, although this is difficult to quantify. Last but not least, beyond the financials, we are very excited about the sustainability benefits inherent in our plans for our expanded network. To sum up on page 17, we are very excited and are confident in our ability to establish a key role in the future mobility space. We have strong fundamentals to build upon and have secured the first promising building blocks for future ecosystems through Flyt, Falck, MyCar Group, and Schyst. We will continue seeking value enhancing opportunities both through acquisitions and organically, alone or with partners. We will test and establish platforms enabling ecosystems, preferably with key partners, all with the purpose of securing a leading position and higher profitability for motor insurance also in the long run. With that, I will now hand the word over to Mitra. Thank you, René. We will now open up for questions to Helge, René and Jostein. Operator, can you please open the lines? Thank you, ma'am. Ladies and gentlemen, if you'd like to ask a question, please signal by pressing star one on your phone keypad. If you're using a speakerphone, please make sure your mute function is turned off. A voice prompt on the phone line will indicate when your line is open. Please do state your name before posing your question. We have our first question. Please go ahead. Your line is open. Yes, this is Vegard Tobiassen from Pareto Securities. Thank you very much for a very interesting presentation and a lot of details there. I have quite a few questions. If I could start with the page seven. Where in the car life cycle do you consider yourself to be weakest at the moment? And is this also the place where we should expect more M&A going forward? Oops. Yeah, your question was in which part of the value chain we are weak at the moment. Is that correct, Vegard? Weak, weakest. Weakest. Page seven. Yeah. Yes. It's going back to your comment earlier, René, that you will be adding partners- Mm. You will focus also on potential new acquisitions here going forward. Mm. I thought just relating it to the page seven, which is an interesting illustration here. Is there any parts of getting the car and damage in car service where you consider you have most opportunities to add new partners or to add new companies? Well, we don't consider our position to be weakest in any of the value chain, but we see that the used car part of the value chain will be increasingly important for the local players. This has been an important part of our sales, and we have always been strong in the second-hand market. Going forward, this will be increasingly important to us, but we believe that we are already in a strong position when it comes to the second-hand market. We don't have any concrete plans on new initiatives in or new acquisitions regarding this. We are strong in the second-hand market, and I believe that this is the part of the market that we will focus on going forward. Maybe if I may add, thank you, Vegard. On page seven, it's first and foremost a value chain created by us. You know, we are in a starting situation for seeing potential new ecosystem going forward. It's lots of players, and we are connected with lots of players as the biggest car insurer in Norway at the moment. We think maybe we will see more integration and more services developing over time. I think the most important signal for us, yes, we are open, of course, for acquisitions, but partnerships and creating ecosystem together with partners, that's the main route going forward, I think. You also heard what René said finally. This is to secure our non-life position, our motor insurance position. That's our main ambition, short, medium, and long term. Yeah. Excellent. On the reduced claims costs that are a quite substantial part of at least the short term earnings potential here, is it correct to interpret this to come from more channeling into partner repairs and then improved fraud detection? Or is there any other sources also for the NOK 100-NOK 150 million? Most of the effects on claim cost will come from the integration or the acquisition of Falck. We will move and some of the competence from our organization into Falck, and they will handle the claims process in an earlier phase. We will be able to steer the cars better, we will be able to do it more efficiently and do it in a cheaper way. The main driver for reduced claim costs comes from increasing the competence in the first line in Falck. Did that answer your question? That's like I understood, so that's very clear. Just to then follow up before I give the word to someone else. What is the reason why you need to own the company to change the way they work? If, say, Falck would continue to be a partner, what is hindering you from doing the same kind of actions, getting them involved in the process earlier and steering repairs to your preferred repair partners, et cetera? That's a good question, Vegard. We have seen that in order to move some of the competence we have in our claims organization and really change the way they are working in Falck, we need to own the company. We see that in many cases also in our distribution, it is difficult to build competence over time without being the owner of the company and owning the processes. We have seen over time that we have not been able to move this competence into our partners. When owning the company, we will be more in control of the total process, and then it will be easier to enhance the competence in the first line. Did that answer your question, Vegard? Excellent. Yeah, yeah. Thank you very much, René. Thank you, sir. We move to our next question. Please go ahead. Your line is open. It's Jan Erik Gjerland from ABG. You said you wanted to have 12,000 new or thought you could be having 12,000 new clients. Have you checked all of this for cannibalization of your own client base, or have you sort of cross-checked these clients' growth expectation? My first question. Yes, we have taking the cannibalization into account. This is 12,000 new policies. How can this reduce your acquisition costs for a multi-client as such, if you think about the acquisition price for a company, you have sort of built in there versus just buying it in the open market? Well, good warm sales leads is difficult to find. We have a lot of strong leads, and we have leads that are not that strong. When we get this customer base, we will be able to get in touch with much more customers, and what's most important, we will get in touch with the customers at the right point of time. This information would not have been possible to buy in the open market as it's at the moment. Did that. Okay. Thank you. Finally, on the access to the data, have you been able to get access to the data from the toll stations, or is that still a hindrance? How can I utilize this mini computer inside my car to develop it? How helpful is it, so to speak? Well, the data from the toll stations are not data we are using at the moment. I'm not quite sure if we have that data either. The second part of the question was? The computers. Yeah, the computers. You talked about the mini computer. Yeah. That is something we are looking into in, you know, going forward. We see together with partners on that area that there's a lot of possibilities. We have not decided what to launch first, but there's a lot of potential in launching new features. At the moment, we are looking into what kind of features we're gonna launch first. How strong is that sort of a microchip computer or whatever it is in my front glass on the car? How can you develop it really, if it's possible to do anything more? I thought it was just a chip telling that it was my car. Yes. Not the computer, but maybe I misunderstood. Yes. At the moment, if you look up in your windshield, that computer is pretty weak. As long as it fits into the box, and we are able to change the box as well, then we can develop it. We have big potential in the future. We have a lot of potential putting a stronger computer into that box. We're looking into many opportunities in that area, but the power of the computer is not the problem at the moment. There are other problems we're looking into when it comes to how they get enough energy, et cetera. There are already some interesting things we can test over the summer. We have created the gate. Okay. We have created the gateway, and based on that gateway, we could relaunch the MyCar, of course, what we are working with is to develop new services to solve everyday mobility problems for our customers. By doing that, securing close relationship with our customers and, as René explained, both short, medium, and long-term positions. Finally, on your profitability, if 67% combined ratio, which is the 40 versus 120, if I could do my calculation correctly, your best guess of the future profitability for Motor or is this just this year's profitability? Jostein, maybe. Yeah. What was the 76 you were calculating on, Erik? The 40 over the 120 million. Oh. Oh, yeah. Was the 67% combined ratio, if I have done the math correctly? It's a micro calculation. Yeah. It's very small. I think I'd rather focus on the absolute amounts there, Jan Erik Gjerland, to see the kind of what type of underwriting result improvements are we looking at rather than the percentage terms. I think that's a more relevant perspective on the numbers there. If we can manage to get as René Fløystøl was in NOK 140 million-NOK 190 million underwriting results from this. This is the perspective and for the total financial perspective on transactions. You need to see this accumulate over years. If you sell 12,000 new policies next year, increase the retention, as I said on that slide, and then add 12,000 new policies and so on, this will accumulate over years in addition to the improvements in the claims side and the direct results from the acquired businesses. That is kind of the total financial picture around the mobility investments. Okay, understood. Just one curious question then. How many new clients are you attracting every year on a regular basis versus these 12,000 prospects, as you said? I think we have around 120,000 new, but then of course it's churn, so net development isn't 100,000, but we do expect 120,000 new ones. Then there is a churn of around 10% as we regularly give you the numbers on. Okay, thank you. Thank you. Our next question, please go ahead. Your line is open. Hi, this is Vegard again. I'm back with some more questions. If you look at the last comment around the underwriting contribution error, how much costs are added in that calculation? I mean, we do have the costs that are within the acquired companies, of course, and this is part of the result from that company. Then there are marginal sales costs around getting the 12,000 new policies that we talked about. The improvements in the claims side doesn't really entail any new costs as such. These are improved ways of doing things that shouldn't have any specific cost effect, if you talk about administrative costs or operating costs. Sorry for having an unclear question there. Out of the NOK 80 million in costs you have for the between the NOK 120 million and the NOK 40 million, how much of the NOK 80 million are marginal or additional costs? Oh, between the premiums and the underwriting result, you mean? Yep. Yeah. Sorry, that was what you were aiming at. Very little marginal costs there. This is the marginal cost from the sales, increased sales. There's very little marginal costs there. Thank you. René Fløystøl mentioned increased focus on efficiency in the Falck organization. Where do you see the low-hanging fruits or where is the potential for increased efficiency there? Well, we see that the IT platform will probably be the area where we have the most cost potential. Okay, thank you very much. The premium, the 120,000 policies and NOK 130 million premiums are slightly on the high side. Is this to be read as an expectation of more new cars within new volumes, compared to your backwards? Is that just an approximation, so we shouldn't put much into it? Well, it's an approximation, but it is. We have approximately NOK three billion in sales every year, and a large part of this is Motor insurance. This will be an important contribution, but it won't change the overall, financial ambitions for the segment. Did that answer your question, Vegard? Yeah. Moving on to something that was announced yesterday, that one of your Norwegian peers have acquired a sizable position in SOS International. At the same time, when I look at the SOS International page, your logo is no longer there. Is it then fair to assume that you have sold your shares in SOS International? That's a fair assumption. Could you help us with how much volumes you contributed to SOS International in 2021 and what the potential increased volumes you could then channel to Falck would be? Well, what we're doing now is we have announced that we're moving our roadside assistance services are now bought from Falck instead of SOS International, obviously. I don't have the volume figures on that, how much that actually contributed in payments to SOS. I can't. I'm sorry, I just don't have that number. We are moving our entire business in Norway from SOS to Falck. Okay. If it's possible to provide that later, Mitra, that would be interesting. Vegard Tobiassen, I think just to make sure that your peers also are able to ask questions, perhaps we can take a final question from you so we can move on, just to make sure that your colleagues also can get the line. I totally agree. My final question then. Were you aware that Fremtind were buying when you were selling SOS ownership? No, we were not part of that transaction. We had sold at an earlier stage. Okay. Thank you very much. Thank you, sir. We'll move on to our next question. Please go ahead. Your line is open. Hi, everyone. It's Qian Lu from UBS. I just have a couple of questions, the first around slides and new business sales. You show here there's 1.1 million cars that's using the platform. Can you give us a number of how what's the proportion of that that's already Gjensidige policy holders and how much potential you see there in terms of cost saving? Is the potential there could significantly increase your new business sales targets beyond that 12,000 policies per annum like you showed on slide 16. My second question is around the mini computers and also the telematics you kind of discussed. I guess, like, in the market overall, like with these competitors, how much more advanced you are in this space of utilizing information from mini computers and telematics. Do you think this is giving this will or already giving you some kind of data or information advantage over your competitors? Well, the first question you were asking how big a portion of the 1.1 million cars that's already in Gjensidige's books. We have looked into the portfolio and approximately a quarter, 25% of the 1.1 million cars already are customers in Gjensidige. When it comes to the mini computers and the telematics, we have been exploring telematics for years. We haven't launched anything in the market, but we have been exploring this, and we have been learning along the way. We don't have any concrete plans in launching a telematic product, but we have been working and exploring this area for many years. Did that answer your question? Yes, perhaps a quick follow-up on the first question. Obviously, like, the kind of target you set for in terms of new policies is 12k, and you said like only 25% of that or is of that 1.1 million is already Gjensidige customer. Do you see perhaps that the growth there could actually significantly exceed that 12k amount you are showing on slide 16? Sorry, I didn't catch your question. What was the question? Sorry, the question is like, do you see the potential there, because 75% of that 1.1 million cars are not your policy holder? Do you see that growth there to actually have a higher potential than the top-line growth targets you have set? Yes. We have a high case as well, but this is what we believe is a moderate and realistic target. Of course, yes, if we are really hitting a sweet spot when it comes to the timing, when you just bought a car, if that hit rate is higher than estimated, then it's possible to sell even more than 12,000 policies. This is what we believe is the right amount at the moment. Okay. That's very helpful. Thank you. Thank you, sir. Our next question, please go ahead. Hi. I think it could be my line. I'm not sure. This is Vinit from Mediobanca. Good morning. Thank you. Just one question or some. One topic on the slide 16. Thank you for this very helpful data. Adding up all these numbers is about NOK 300 million, if you look at the benefits from these transactions. Could you just refresh our memory as to what was the outlay for you, when you spent the money to buy these assets, if you disclosed already, I apologize. Just curious to hear that. And second question is just the cost synergies, NOK 100 million-NOK 150 million. Sorry, yeah. What context there and, I mean, I'm just trying to obviously understand how we look at the profitability. Is it, say, one point or half a point of motor costs or something to give us a context? Thank you very much. We've disclosed the acquisition price for the Falck RSA Nordic & Baltics at approximately NOK 1.5 billion. We said that the total returns on all these investments should be, say, double-digit, which means more than 10% return on these investments. The combination that gives us a double-digit return on investment is the direct result, which is the smaller part of this benefits. The claims cost improvement of NOK 110 million-NOK 150 million, as we disclosed here on this page that you referred to. Then the profit from increased sales and increased retention of the customer relationships. That is kind of the drivers of these returns. I think it's better impressed that way rather than the improvements on the percentage points on the loss rate or anything like that for motor as such. You need to look at the total package of benefits that we get from these investments. Okay. Thank you very much. Thank you, sir. We'll move to our next question. Please go ahead. Your line is open. Morning. This is in terms of the standalone group, which is not taking into account the benefits to our underwriting results. There isn't a quicker increase in the short term due to us increasing the efficiency of the operations that we've taken over. What the longer-term growth rate will be is more difficult to assess. We said that more than NOK 200 million in direct contributions from these assets in 2025. You're right, these are capital light. I mean, we've done the investments. Other than that, there is not that much capital tied up in the businesses. These investments were part of the strategy that we have based on our financial targets on. They are included when we set the financial targets back in November, I guess it was. Sorry. I couldn't quite hear. For 2025 on the standalone contribution, what was your assumption for that product line? Standalone, a bit more than NOK 200 million. NOK 200 million. Perfect. Would this come through in your other income line rather than the underwriting results? Is that correct? That's correct. Other income or whatever it's called. Great. Thank you very much. Thank you very much, sir. We'll move to our next question. Please go ahead. Your line is open. Yes. Good morning. This is Thomas Svendsen from SEB. Actually two questions to Falck. The question number one, when did the sort of thing change so you realized you need to own this service yourself? Has it been a gradual process, a realization of this, or has it been any abrupt happening? And the second question on Falck is how is the business mix of in Falck between sort of you know, flat battery in cold weather, flat tire, empty fuel, empty electricity, where I guess there is not much value to create for you and the part of the business where you can create value. Thank you. Maybe I start and you will follow up, René. You know, Thomas, we have been working with our motor insurance or mobility development for a long time. The beauty of this presentation today is that you see that this support our business short, medium term, and it's to building together with others a foot on the ground operation to secure the long-term position of the NCD. That's the beauty actually of our presentation today. We have used roadside assistance from own suppliers for many years ago and other suppliers for years. We see that to develop services to solve real problems for customers, we have to have the hand on the. We have to steer this in a different way going forward. This is very important for us to develop new services, digitalize and secure that we can be in the forefront. Long term, we have to build this ecosystem together with partners. I guess it's lots of partners around us with the same purpose as we have. They want to secure their long-term position as they have today up against, I would say, global trends and players. Maybe in more detail than there. It wasn't any immediate thing. This has been a process for years. When this opportunity arise, we wanted to take that opportunity, as we have seen based on two, three acquisitions, we are in a starting point for creating a very exciting integrated ecosystem and platform for the future. Just to underline what Helge said. This has happened gradually, and what's important to us is to be a relevant local on the ground player in the mobility space together with a lot of important partners. It happened gradually, and it's in order to secure our position locally. The roadside assistance service is something that's local, it's physical, and it will be relevant also in the future. We see that the batteries and the Teslas end up off the road today, and they will do that next year and the year after as well. It's being a local and relevant partner in the mobility space. Maybe the question was about flat batteries, et cetera, versus- Yeah. The reclaims. I tried to avoid that one because that is a difficult question. Yeah. I don't have the numbers and how the The split. Yeah, the split is between what kind of accidents Falck actually assists with. I'm not quite sure how that split is. The ambition is every touchpoint with the car users is a potential touchpoint for services, building closer relationship, and securing our non-life position long time. Okay, thank you for that. We have a couple of more minutes for questions, operator. I think we can have one more participant on the line. Sure, ma'am. We'll take our final question. Please go ahead. Your line is open. Hi, this is Christopher Adams from Jefferies. You've highlighted some opportunities from changes in the market dynamics for mobility. If you look at the big picture, do you think these changes in the mobility markets are a net positive or a net negative for you in CBA over the next three-five years? Perhaps you can also address what you believe are the key risks from these changes. Thank you. I guess short, medium-term, three-five years, net positive. Long-term, it's uncertain. Maybe net negative in 10, 15 years. The key risks? Yeah. The key risk long-term. Key risks. The key risk long-term, Christopher, is, of course, embedded insurance, integrated insurance, with cars from Europe, Asia, where the non-life players in the Nordics were pushed back in the value chain. What we are creating here is a platform securing that we can also, in the long term, secure non-life products towards customers and also, doing what we can do to secure that we have the front, we open the physical and digital door towards the customers. That's the overall aim long term. You know, the threat long term, of course, more car sharing, more integrated insurance into cars. I do not think autonomous cars are the big threat for this market. Long term, you know the trends. All right. Thank you. Thank you. We will need to conclude now. Everyone, thank you for your attention. I hope you found this session useful. If you have any further questions, please don't hesitate to contact us in IR. Our next insight session will be in November, where, when we will be sharing with you the impacts of IFRS 17. We will publish more information on the date, time, and practicalities on this session later on. With that, we will conclude this session. Have a nice day. Thank you. Thank you, everyone. You may now disconnect.