First win for Group’s new ‘Distribution as a Service’ operation
Direct motor insurance deal aims for ‘major’ growth, driven by digital customer experience
BGL Group, a leading digital distributor of insurance and household financial services, has announced a new long-term partnership with Geoffrey Insurance, part of the Markerstudy Group. The agreement – the first win for BGL’s newly formed ‘Distribution as a Service’ operation – will see Geoffrey partnering with the BGL Group to drive growth for its direct motor insurance. As one of the UK’s leading insurance groups, known for its innovative approach, Markerstudy Group has outlined ambitious plans for its direct brand, Geoffrey Insurance. The new partnership will combine Markerstudy’s strength in underwriting and claims, with BGL’s digital and customer expertise, to deliver a unique customer proposition.
With ever increasing expectations, particularly in the current climate, policyholders are favouring self-service options and the collaboration is focused on providing an enhanced digital customer experience end-to-end. Driven by data and supported by market-leading platforms, BGL will deliver automated digital voice capabilities and digitally enhanced customer journeys for Geoffrey Insurance customers. In addition, BGL will underpin the services through its robust compliance and regulatory frameworks, allowing the insurer to future-proof its distribution.
Russell Wilson, Head of Group Contact Centres at Geoffrey Insurance, said: “BGL’s leadership in the insurance partnerships market positions it perfectly to help us realise our ambitious growth plans for the Geoffrey motor products. With the overall goal of exceeding customer expectations, we are confident that our new model will allow us to drive significant growth.”
Iain Belson, Associate Director of Insurer Outsourcing, said: “Geoffrey Insurance has a long-standing and extremely successful background as an underwriter and it’s this market insight, coupled with BGL’s digital and customer expertise, that will enable us to deliver ‘best of breed’ motor insurance products for consumers. Teams from both sides have worked incredibly hard over the past few months to successfully migrate Geoffrey’s customers to BGL and we look forward to rolling-out some exciting initiatives to grow this number even further.”