Legal & General has announced its return to the motor insurance market, following its partnership with Junction, the affinity arm of BGL Group. This time it will operate as a distributor rather than an underwriter and it will be backed by a panel of 14 motor insurers.
L&G has ambitions to achieve 100,000 policyholders within 3 years, which it is hoping to achieve partly through direct sales (it has over 7 million customers of its own), but more probably through price comparison websites.
It has spoken of the "development of some exciting car insurance propositions", but it will be interesting to see how effectively these can be delivered within a panel model and in such a price-competitive market.
L&G announced its intention to re-enter the motor market in March 2013.
No comments:
Post a Comment