Keychoice, the insurance distribution business owned by SSP, has signed a new deal that will see the RAC become the exclusive partner for motor breakdown.
From early next year, brokers who are Keychoice members will have exclusive access to a fully integrated breakdown recovery scheme for cars, vans and motorbikes from the UK's most experienced breakdown provider.
In addition to working with a company that has been providing exceptional service for almost 120 years, Keychoice members will benefit from an exclusive discounted net rate.
The scheme enables Keychoice members to provide cover for vehicle breakdowns that occur at the driver's home, anywhere in the UK and in 48 countries across continental Europe.
Other features include recovery of the vehicle to a single destination anywhere in the UK and onward travel if the vehicle cannot be repaired at the roadside.
Keychoice has selected to work with the RAC following an extensive review of the breakdown services market, as the company offered the best rate for its members. The brand's reputation and customer service were key decision items, as consumers prefer to buy from a brand they recognise and trust.
The Keychoice business helps member brokers win in the market through better and more competitive products, making them highly profitable for insurers. With quality books of business, Keychoice brokers control around £500m of motor GWP.
Liz Mitchell, General Manager, Keychoice said: "Our partnership with the RAC is part of an exciting new chapter in how we work with our members. We have strengthened our team and revitalised the Keychoice proposition in preparation for the next phase of growth and evolution, and this is the first of many new exciting products to come."
Richard Fuller, Head of Commercial Sales at the RAC said: "Brokers are becoming an important part of the RAC's income stream, as we look to expand our products and revenue.
"SSP is a trusted strategic partner with access to hundreds of high street brokers through its Keychoice distribution business. We wouldn't otherwise be able to connect with these brokers on an individual basis, so this partnership with Keychoice is really important to us."
Keychoice is the insurance distribution group owned by SSP, and its products are exclusively available on SSP’s technology platforms. Member brokers are able to win in the market through access to better and more competitive products, making them an attractive distribution channel for insurers. The insurers who partner with Keychoice also access unique data and intelligence that enables them to accurately target growth.
Membership now extends to over 500 members, who control in excess of £1.56bn GWP. Based on our view of the market, Keychoice brokers grew their total GWP by more than 7% during a tough trading period.
SSP is a global provider of technology systems and solutions across the entire insurance industry, using our expertise to enable our customers to transform their business and increase their profitability. SSP provides core technology solutions, distribution and trading capability, advanced analytics and solution delivery. We work with 8 of the top 10 UK insurers, 4 of the top 10 global insurers and over 40% of UK Brokers. Our unique position in the market, including the largest market share of UK e-trading, enables us to provide leading data insight and unrivalled distribution. Our knowledge, talent and technology capabilities deliver innovative results that make us the partner of choice for our customers.
About RAC Business Services
RAC is one of the UK's most progressive motoring organisations, providing services for both private and business motorists. RAC Patrols repair vehicles on average within 31 minutes at the roadside and carry more than 500 parts and tools, so we’re always well-equipped and ready to fix wherever possible. RAC Business offers a comprehensive range of services and products for UK businesses of all sizes and currently has around 24,000 corporate and SME customers.
Products available include: fleet breakdown coverage, telematics, fuel cards, accident management, inspections, training, commercial and fleet insurance, fleet management (Business Club) and risk management services.
RAC also provides client-branded outsourced services and call centre support for customers of leading car manufacturers, insurance, fleet providers and logistics companies, as well as truck breakdown, truck warranty and insurance for vehicles from 3.5t to 44t.
RAC press releases, news alerts and a wealth of motoring research is available from www.rac.co.uk/press-centre/.
Notes to editors
For further information, please contact:
Email: firstname.lastname@example.org (H+K Strategies, SSP’s PR Agency)
Phone: 020 7973 4456
Head Office: Second Floor G Mill, Dean Clough, Halifax, West Yorkshire, HX3 5AX
Simon Peevers, RAC Business PR Manager: 01454 665562 / 07966 610 774
RAC Press Office: 01454 66 4123 Email: email@example.com