Aviva has successfully rolled out its personal lines pricing to Swinton Insurance branches nationwide, more than doubling sales for its private motor product year-on-year.
Access to the new system enables Swinton brokers to offer customers Aviva’s private motor product at a price that is more competitive with the direct insurance marketplace, and with the added benefit of the guidance and expertise of a broker.
Following a successful pilot, it has now rolled out across all of Swinton’s 570 branches and three call centres through Swinton in the UK. Following the first month of trading, sales of Aviva’s private motor insurance had increased 166% when compared to the same period in 2009.
Sam Hudson, head of broker personal lines at Aviva, said: “With the personal lines market remaining highly competitive, our investment in technology means that we can provide brokers with access to more competitive private motor rates so they can react to market changes quickly.
“Our partnership with Swinton, Britains biggest high street broker, has been hugely successful and the figures demonstrate that a renewed focus on improving the personal lines pricing model for brokers is working.”
Steve Foster, insurer development manager at Swinton Insurance, said: “The integration of our motor quote engine with Aviva’s dynamic web-based rating engine has meant that we can access the real-time pricing system, creating a transparent alignment between direct and broker prices.
“Being able to compete in this nature is incredibly important in the private motor market. The success of the rollout across our network demonstrates that there is a clear appetite amongst our customers for a competitively-priced offer, delivered through our brokers.”
Aviva uses real-time information to provide its customers with pricing that is based upon their individual risk, whilst also using a variety of third-party data sources to combat fraud and boost profitability by being more selective in its decision-making.
Hudson added: “We are continuing to invest in pricing and technology to offer brokers the opportunity to genuinely compete with the direct market and help make selling policies easier, in this case with one of the biggest brokers in the UK.”
Source : Aviva Press Release
