RAC cements its position as top-five car insurance broker by securing its 500,000th policy this year
RAC Car Insurance has broken new ground by exceeding 500,000 policies in force (PIF) following growth of more than 11% in the first nine months of the year.
The milestone, which cements the RAC as a top-five UK car insurance broker, has been achieved by using market leading tools and analysis to draw out intelligence and insight from unique RAC breakdown data and sharing with its panel of trusted insurers to more accurately predict the risk levels of different groups of motorists.
The result has been more competitive prices for both new and renewing customers who are safer drivers, resulting in a significant improvement in purchase and retention numbers.
RAC Insurance managing director Mark Godfrey said: “Having begun 2018 with around 450,000 customers we have grown by more than 11% in the first three quarters to break through the 500,000-customer landmark.
“This is a significant development for the company as growing the RAC Car Insurance book is crucial in furthering the RAC’s overall mission to give drivers complete peace of mind in all aspects of their motoring lives.
“The RAC is in a truly unique position as we have access to data relating to 2.3m breakdowns a year which means we are able to interpret all this information to give a more accurate risk picture for certain cohorts of motorists.
“This has allowed us to develop close strategic relationships with a core of insurers and driven better prices for both members and non-members. We have also invested heavily in our insurer support team in order to provide additional daily visibility of performance to identify and manage market changes.”
RAC Car Insurance Plus has a five-star Defaqto rating which it has held for five years. It has also won the Consumer Intelligence Customer Trust award, as voted for by drivers, for the last two years, while collecting the Customer Satisfaction award in 2018 as well. Its own data shows that nine out of 10 customers would recommend RAC Car Insurance*.
Further information about RAC Car Insurance can be found here.
* Based on a survey of new RAC Car Insurance customers between 1st January and 30th June 2018. 16,766 of 18,138 customers scored us 6 or more out of 10, therefore 92.4% (9 out of 10) are likely to recommend us to a friend or family member.
