Smartdriverclub hopes to increase its GWP via aggregator site by 200% in two years
Smartdriverclub Insurance is expanding its underwriting capacity to meet the demand for usage-based insurance and connected car services.
The move is part of the telematics insurer’s strategy to increase its GWP via aggregator sites by 200% over the next 2 years.
Its policies are currently underwritten by AXA and Admiral, but Smartdriverclub says it is in talks with a number of providers to extend the capacity and footprint.
Penny Searles, CEO of Smartdriverclub Insurance said: “The volume of business we are transacting via aggregators, whilst maintaining our key strategic objective of lower than market loss ratios, has exceeded our expectations. We are therefore focusing on building up our capacity relationships to extend our presence on the PCWs and for our club members who opt to take insurance directly with us.
“The fact that we are winning business via the aggregators in traditional footprints proves that we are delivering a service that motorists want and one that really challenges the traditional model. Motorists like the no-fuss simplicity of installation, the safety and cost-saving services the OBD device enables and the promise that they won’t be subsidising the bad behaviour of others.
“Smartdriverclub Insurance is proving that telematics works outside of young driver market – the way we package it as part of a membership service and allow customers to benefit from their driving data has been fundamental to our success.”