ABC Insurance, the LV= Group insurance business serving UK brokers, has launched a private car insurance policy.
Available exclusively through brokers, the product marks the start of ABC’s entry into the personal lines market.
The company, which launched a business insurance policy in May, aims to write £300m of premium income in personal and commercial lines within five years.
Brokers will have a choice of two car insurance products, one offering a lower commission with the benefit passed on to the customer in the form of a cheaper price.
Head of ABC Insurance Phil Bunker said: “LV= is already a substantial car insurer through the direct and partnership channels so it is a natural development for us to enter the broker channel. ABC is using the established LV= claims handling team which has an excellent track record for customer service. The rating of the new product is very sophisticated using an innovative formula designed to offer maximum benefits both for the underwriter, its broker clients and their own customers.”
ABC plans to launch further personal lines products later in the year.