Body Magazine Insurance and Work Provider News.

Here's the latest Insurance and Work Provider News from BODY Magazine.

 

  

EasiDrive Donate to Fix-It UK

 

EasiDrive has donated £4,000 to Wigan-based charity Fix-It UK which runs vocational training courses in motor mechanics for disadvantaged 14-19 year olds.

 

Latest Research on Motor Policy Features

Independent financial research company Defaqto now offer a new research tool to enable motor insurance companies to compare the consumer appeal of specific and overall product features and to filter results by age, gender, affluence and claims history. With this information they can fine tune their products to meet the requirements of their target consumer markets.

 

The five most sought after features and benefits are:

Ranking  Feature or benefit  Percentage of available motor insurance policies offering this
1  Not losing No Claims Discount or being liable for higher premiums if damage is not your fault  3%
2  No policy excess applied if involved in an accident caused by an uninsured driver  13%
3  Protected No Claims Discount regardless of number of accidents  18%
4  Protected No Claims Discount for up to a maximum of one claim per year  25%
5  No excess applied following total loss (eg. vehicle stolen and not recovered or damaged beyond repair)  4% 

 

 

Can’t Wait, Won’t Wait says Aviva

Research from Aviva, the UK’s largest insurer, reveals that Brits have developed into a Nation of "want it all and want it now" consumers with 81% of Brits admitting they get frustrated when they have to wait to use a product or service they have already paid for*.

 

Women (92%) are more inclined to email rather than take the time out to write a letter, compared to 86% of men. However, men are more likely to resort to the microwave for their main meal with over half (52%) saying they prefer to set the timer for a micro-meal rather than cook a meal from scratch, compared to 44% of women.

The most frustrating purchases for waiting to use a product or service after payment has been made, according to Aviva research:
1. Waiting for the completion of a sale of a new home (94%)
2. Not being able to use a new toy or gadget because there aren’t any batteries included ((91%)
3. Not being able to drive away a new car because there’s no insurance in place (90%)
4. Having to wait around in airport departure or arrival lounges (80%).

 

* Aviva is addressing this trend with Driveway, their product that gives a week of free insurance on new car purchases; and by issuing policyholders that use the online ‘Self-Serve’ facility with an electronic insurance certificate. Existing policyholders can also make online mid-term policy changes such as updating address details via ‘Self Serve’.

 

* Ian Thomson, RSA Director of UK Personal Motor Claims at RSA was helped in his quest to raise money for charity by Dave Bridges, general manager at Nationwide Crash Repair Centre, East Grinstead. Ian was part of an RSA team raising money for MacMillan Cancer Resarch as part of the company’s celebration of its 300th anniversary.

 

* Countrywide Accident Assistance Ltd has signed an agreement with BASF Coatings, which will see the two companies working together in a strategic business partnership aimed at delivering long term, sustainable benefits to its clients and in particular, its Approved Repair Network. Uniquely, unlike many of its competitors they say, CAA wants its Approved Repairers directly to receive benefits and enjoy the resulting improvement in profit. CAA has continued to add new clients to its portfolio, when many of its competitors have seen client numbers fall during the recent difficult trading period. CAA has also been fortunate in that existing insurer clients have increased the range of services they require, as well as bringing on additional policyholders. This has seen the CAA headcount grow by 34% in the last 12 months.

 

* Bike Insurer Services Ltd has been nominated for the European Business Awards by HSBC. The nomination comes after an exceptional period of growth for Bike Insurer Services Ltd, which also launched a sister comparison website for van insurance last year.

 

* The OFT has launched a review of barriers to entry, expansion and exit in retail banking, to identify any obstacles facing new entrants and smaller banks seeking to expand.

 

* Odyssey Car Hire Insurance has joined the search engine of moneymaxim, the car hire excess insurance comparison service.

 

* Aviva has appointed Anthony Middle as the UK strategic partnerships director.

 

* Zurich says it has streamlined its management; Mario Greco has been appointed CEO, General Insurance one of the company’s 3 core segments.

 

* Aviva has appointed Anthony Middle as the UK strategic partnerships director.

 

* Zurich says it has streamlined its management; Mario Greco has been appointed CEO, General Insurance one of the company’s 3 core segments.

 

 

Free Online Marketing Support Service

 

Prestige vehicle replacement provider, Accident Exchange, has launched a free-to-use, online marketing support service to help its dealers and bodyshops maximise revenue from customers involved in no-fault accidents. The Marketing Hub provides off-the-shelf communication tools and products that can be individually branded. The site has been developed to support those retailers and repairers who do not currently offer a full accident management service but choose to out-source their non-fault claims to Accident Exchange as a third party supplier.

 

 

New PAS 125 Consultant

 

Britannia Accident Assist has appointed Donna Deakin as their PAS 125 Consultant. She will help repairers gain the PAS 125 accreditation ensuring they get the best possible return for their investment. Donna will also be involved in the construction, development and maintenance of our new Repairer Network, which will receive non-fault repair work secured through Britannia's broker contracts, Britannia say all the repairs will attract full retail repair rates, therefore offering true profit potential.

 

 

 Learn from Tesco

 

Tesco is one of the most successful companies and brands in the UK. They pioneer marketing strategies that entice more and more customers each year so it will be fascinating to see how they develop their venture into the financial services arena.

 

Their foray into selling insurance policies occurred at a time when the financial background has been rocky to say the least. It is of note that they have chosen to partner with well-respected Fortis for their future motoring insurance management.

 

This pdf document contains snippets plucked from Tesco's most recent financial performance report to investors; perhaps you can glean some plummy insights into running your own business.

 

Read more here: content/userfiles/file/tesco_Layout%201.pdf