Groupama Insurances helps brokers increase revenue and drive car insurance sales with PA add-on

28 August 2008.

Groupama Insurances is helping brokers to maximise the development potential of their car insurance portfolios by marketing its successful ‘PA add-on' product.

Available for brokers writing larger volumes of private motor business, the product compliments any private car policy. Motor PA add-on offers an added value sales proposition that gives additional protection for policyholders and generates increased revenues for brokers, both on new business and renewals.

"It's a win, win proposition," says Lynn Harris, Head of Customer Proposition at Groupama Insurances. "Brokers tell us that the levels of take up can be very good because customers value the extra cover. The PA product sells successfully with new business and it works well at renewal stage where it can be extremely helpful as a renewal retention tool to hold on to hard won customers."

With a recent report claiming that the growing incidence of road rage is the second biggest change in motoring in the last twenty years, Groupama's private motor PA add-on policy automatically includes an extension for road rage assaults and with three tiers of cover, it aims to address some of the concerns of today's motorist.

Continues Lynn Harris: "Research shows that road rage is an increasing worry for motorists and sadly it is something that they seem to experience more and more regularly. The consequences of an assault, or of a motor accident, can be absolutely devastating and this add-on cover offers real financial protection for policyholders that can be a great support when day-to-day life is interrupted. Although standard motor policies do provide some personal accident cover, it is usually limited. We think that the increased cover on offer from Groupama is particularly relevant for today's motorist and can provide financial help when it is needed most."

Groupama Insurances is looking to work with brokers with larger car accounts as this can really justify the set-up cost and development work necessary to set the additional cover in place."

About Groupama's private motor PA Add-on scheme
• Groupama's motor PA add-on policy provides cover should the insured or their passenger suffer severe bodily injury as a result of a road traffic accident or an assault whilst legally travelling in the insured's vehicle.
• Groupama offers 3 levels of cover, Gold, Silver and Bronze.
• Benefits are payable as a lump sum amount.
• Pricing is determined by the personal accident underwriting team and will be based on the profile of the broker's private motor car account.
• Brokers can decide to take the cover as a voluntary or mandatory option and can choose the level of cover for death and capital benefits from £5000 up to £20,000.

Ends

August 2008