ABC Insurance, part of the LV= Group, has launched a new private car insurance policy, which is available exclusively via insurance brokers.
The launch is expected to spearhead ABC’s entry into the personal lines market and is its second new product following the launch of its business insurance policy in May 2007.
The new car insurance product is a full-cycle EDI private car policy, which will initially be available via two broker software houses, SSP and CDL, with a third to follow later in the year. Brokers will have a choice of two products both offering the same level of cover; one with a lower commission level passing on the benefit in the form of a cheaper price to the customer.
Phil Bunker, head of ABC Insurance, commented: LV= is already a substantial car insurer through the direct and partnership channels, so it is a natural development for them to enter the broker channel. ABC is using its established claims-handling team, which has an excellent track record for customer service. The rating of the new product is very sophisticated and uses an innovative formula designed to offer maximum benefits for the underwriter, its broker clients and their own customers.