Tuesday, 23 July 2013

Motability renews partnership with RSA...for 5 more years

RSA has renewed its long-running partnership with Motability Operations (the not-for-profit company which manages the Motability car scheme) for 5 more years, running from October 2013. The original partnership was announced in July 1998. 

This is arguably more of a commercial fleet scheme than a traditional "affinity" arrangement, but it does represent one of the UK's largest motor insurance partnerships and covers 600,000 disabled drivers. The Motability scheme is said to account for 6% of all new cars sold in the UK each year. Policies are generally provided on a 3-year basis, but will be re-priced every 6 months. 

The revised deal is on a quota share basis, with RSA retaining 20% of the premium and ceding the remainder to a captive insurer managed by Motability Operations. This is very unusual in an affinity deal, but the scheme had been making substantial losses in recent years and arguably also reflects the particular expertise of the partner.  

Thursday, 18 July 2013

Ford to partner with Allianz - one of the worst kept secrets in the market!

It is understood that Ford has selected Allianz as its UK partner for its branded motor insurance, with effect from November 2013. Following a tender exercise, the rumour has been circulating within the market for a number of months that Royal & Sun Alliance will be replaced by Allianz. 

RSA has held the partnership since 2008; at which time it included the Mazda, Jaguar, Land Rover and Volvo brands. These have all since been sold by Ford and of these, RSA only now partners with Volvo.

Allianz benefits from being a major pan-European insurer, although it is understood that the new partnership will only cover the UK. In addition, it is already well-established in the UK motor manufacturer affinity sector, with its BMW and Volkswagen partnerships. 

A formal announcement has yet to be made about the new partnership and there are also suggestions that Ford will be using an intermediary to work alongside Allianz in the new arrangement. (Update 2015 - Europa Group provides a sales and administration service for the partnership. ABC and AXA added to the panel for annual car insurance.)  

Monday, 15 July 2013

Renault UK partners with Quindell for accident and claims management

Renault UK and Quindell have signed a new partnership which sees the outsourcer providing a range of accident management services for the car manufacturer across all its brands, for drivers of new and used vehicles.  

The 2 organisations have signed a "multi-year contract"; whereby Quindell will provide first notification of loss (FNOL), credit hire, repair and personal injury elements of the claims service to Renault UK. Quindell has been active in this area in the last 2 years with its acquisitions of Ai Claims and law firm, Silverbeck Rymer. 

Renault is one of many motor manufacturers that have chosen to remove accident and claims management services from their car insurance partners; in this case, Equity Direct Broking. Renault's GAP insurance product is underwritten by Cardif Pinnacle. 

Wednesday, 10 July 2013

Sesame Bankhall adds PMI with Aviva and PruHealth

Sesame Bankhall Group (SBG) has enhanced its restricted advice proposition with corporate and individual PMI products in partnership with Aviva and PruHealth.

SBG's restricted advice proposition was launched in 2012 and the organisation believes that PMI could become a significant growth area for advisers within its network. Aviva and PruHealth are among 11 providers supporting the SBG restricted advice proposition.

PMI has traditionally been regarded as a complex partnership product and one that few affinity groups have marketed successfully.