Aviva-owned RAC Motor Insurance is switching back to using a panel of underwriters, reports Post Magazine news editor Mairi MacDonald.
Three years ago, the operation ditched its previous panel arrangement to use new owner Norwich Union as sole provider. Before that ‚ as Post editor Jonathan Swift notes elsewhere in the magazine ‚ the operation was solely underwritten by Axa, before being bought by RAC and placed with a panel. The latest panel deal sees brokers Junction signed up for five years to provide online service support via the RAC contact centre. NU is expected to lead with 30% to 40% of the business, with Axa, Fortis and Chaucer (plus another six to be announced) all joining the panel this month.
The plan is to double premium income and customer volumes within five years. RAC’s head of sales Mark Godfrey told Post the deal would “enable RAC to grow cross-selling opportunities among its customers and allow it to take advantage of Junction’s experience working with insurance panels. Using a panel,” he said, “allows us to leverage our existing RAC breakdown customer base.”