Prices of new policies have risen, and renewals have decreased following the Financial Conduct Authority's price walking ban in January.
According to the Association of British Insurers (ABI), the average price paid for comprehensive motor insurance dropped by 5% in the first quarter of 2022, compared with the same time period in 2021.
The absence of introductory offers for new customers presents a challenge for motor insurance brokers, who need to find new ways to be competitive. As a result, many are looking at ways to make ‘service’ a unique selling proposition as they increasingly consider how they can differentiate themselves to improve customer retention.
For insurance brokers, the claims process can be complex and difficult to manage. It also distracts from what matters most to the business: selling insurance. Using end-to-end accident management services can help to provide gold-star customer service during the claims process.
About AX Motor Assist
With our end-to-end FNOL solution, our own extensive car fleet, repair network, and legal services firm, and our track record in our two-customer service focus, you and your customers will be in safe hands when it comes to accident management provision.
Brokers can benefit from:
- 24/7 FNOL
- The entire claims management process taken care of
- Technology solutions through our digital end-to-end FNOL platform
- Triage and service deployment through our own fleet, repair network and claims management team
- Improved customer retention rates
“AX Motor Assist offers brokers a completely outsourced end-to-end claims management service. The service is efficient, transparent and cost-effective, freeing brokers up to do what they do best: deliver great levels of customer service, retain clients, and, ultimately, sell more insurance.”
Steve Molloy, AX’s Director of Commercial Sales