Ageas enters young driver market with three-year deal

Ageas has taken a step into the young driver market by agreeing a three-year partnership deal with Marmalade.

Ageas will now be able to offer three products to young drivers – learner driver insurance and student driver insurance, which are flexible policies, and named young driver insurance, which is an annual telematics policy.

The move marks another shift in the Ageas strategy, which has undergone a raft of changes this year.

Ant Middle Ageas’s chief customer officer said: “Ageas is best known for offering car insurance to established drivers so we’re delighted to be working with Marmalade, offering insurance cover to the next generation of drivers.”

Ageas has already made changes to senior management, closed call centres and set up a new regional underwriting team this year, as chief executive Andy Watson looks to shake-up the business.

Marmalade is a Biba official scheme provider and has been providing flexible insurance options to young drivers since 2006.

Crispin Moger, chief executive of Marmalade added: “Marmalade chooses its partners carefully to ensure they understand our values and share the passion we maintain as a business.

“I am confident Ageas is the right partner for Marmalade to work with to continue challenging the industry and reshaping insurance products available for learner and young drivers.”