Quotezone adds Carrot Insurance to comparison platform

Carrot Insurance, Acorn Group’s digital-first, telematics-based motor insurance brand, designed to reward safe driving through data-led pricing and customer engagement, joins leading price comparison site Quotezone.

As premiums for younger drivers continue to be the most expensive of any age group, it’s created a surge in demand for telematics products across this category, as new drivers search for more affordable solutions.  

Two-thirds of 18–25-year-olds now opt for telematics over traditional insurance policies,* reporting lower annual insurance premiums of up to 20%.**

Last year the Acorn Group – the UK’s leading non-standard providers of car, van, taxi and household insurance to retail customers – acquired telematics business MyPolicy to further strengthen its telematics offering with young and low mileage drivers. This market continues to grow in significance,  as evidenced by recent research that reveals 61% of young drivers are likely to take up a telematics product at renewal.**

With accident rates for this at-risk age category remaining disproportionally high and repair costs on the rise, it is likely that telematics products will play an important role in the future of competitive insurance pricing.

Dan Ward, Telematics Director at Acorn Group comments:  “Quotezone is set to play an important role in helping young drivers access and compare insurance options quickly and transparently. Making Carrot available through these platforms supports our strategy to provide affordable premiums and support safe driving via black box insurance.

“As demand for telematics continues to grow among younger drivers, expanding our presence across comparison channels allows us to reach the customers who are actively seeking more affordable insurance solutions. Not only that, each customer that buys a Carrot policy via Quotezone joins the thousands of drivers across the UK that are making a commitment to drive safely in return for reduced premiums at renewal.”

Quotezone Founder and CEO Greg Wilson comments: “In the past some customers may have been reluctant to try telematics products, perceiving them to be more difficult to set up than traditional insurance but research now shows that once customers try telematics, two-thirds are satisfied or very satisfied with the financial savings.*

“Also, advances in technology now means telematics can be incredibly straightforward, in many cases, simply linking to the driver’s phone – giving customers more control over their premiums, with safe driving more likely to result in reductions.

“We’re looking forward to working with the team at Carrot Insurance. Young drivers are under a lot of financial pressure and telematics is a smart choice for those who want to demonstrate that they can be safe and careful drivers right from the get-go.”

Now over 20 years old, Quotezone.co.uk is one of the leading price comparison sites in the UK, with over 4 million customers every year and one of the widest product ranges available in the industry.

References:
*https://www.lifeinsuranceinternational.com/analyst-comment/younger-drivers-forced-into-telematics/
**https://www.actuarialpost.co.uk/article/telematics-insurance-grows-in-popularity-22972.htm

About Acorn Group / Carrot Insurance:
Acorn Group, via its brands – Acorn Insurance, Carrot, Motorcade, Flag, Rapid and Briefly – and Granite Underwriting with its network of 200 brokers, is one of the largest providers of non-standard insurance in the UK, with 500,000 live policy holders. The group has over 1,700 staff in Formby, Liverpool and London.

About Quotezone:
· Launched in 2005, Quotezone.co.uk has grown to become one of the UK’s leading price comparison platforms. An early pioneer of price comparison systems, the Quotezone.co.uk platform continues to use proprietary comparison technology to help millions of people find better deals on their insurance each year.
· Quotezone.co.uk’s parent company, Seopa, was founded by the Northern Irish entrepreneur, Greg Wilson, in 2003.
· From its headquarters in Belfast, Northern Ireland, Greg Wilson, CEO, and Ian Wilson, Managing Director, have grown the company to more than 80 team members spread across two European offices.
· The company has been recognised with six Deloitte Technology Fast 50 Awards, and has been awarded a Deloitte Best Managed Company Award each year for the past nine years – now a Platinum Standard Best Managed Company for the third year.