Covéa set to go direct
Covéa Insurance is at an advanced stage of readiness for the launch of its direct motor insurance proposition with go-live planned for early 2016.
The company has been talking openly about its intentions to launch a direct operation since the creation of Covéa Insurance in 2012 and has chosen to utilise one of its in-house brands – Provident Insurance – to market the proposition.
Speaking of the brand decision, retail distribution director, Carol Geldard, explained, ‘We carried out extensive independent customer research to test all our in-house brands and the results were very clear cut. The Provident Insurance brand performed not only as our most recognisable brand with consumers, but also tested very strongly against a range of well-established insurer brands. Given we already own the name, selecting Provident Insurance as our direct brand was an easy decision for us.’
Carol continued, ‘The launch of direct in no way changes our continued commitment to the intermediated market. Our investment in creating a direct business is about ensuring that we maintain our position as a successful underwriter, delivering sustainable, profitable returns. Most of our brokers have been aware of our plans for some time and generally recognise that this development, which will materially add to our access to data and insight, will ultimately enhance our overall motor proposition across all channels.’
The company’s direct offering has been built on Covéa Insurance’s proven expertise in underwriting, claims and service excellence and the company has recruited 50 new employees at its Halifax offices to support the new proposition.