iGO4 Limited’s inaugural partnership with Markerstudy
New direct brands launched: Zenith Insurance and Zenith Insurance Plus
[Peterborough, 24 November 2011]
iGO4 limited and Markerstudy announce their partnership which has enabled Markerstudy to deliver new direct brands Zenith Insurance and Zenith Insurance Plus. These Motor Insurance brands are scheduled to go live on 24th November 2011.
Clive Fulcher, Head of Direct Products commented: “Markerstudy identified a significant opportunity to complement its current distribution via brokers by creating direct products. With our experience of underwriting non-standard footprints we believe we can extend our reach without changing our underwriting philosophy. To achieve these goals we needed a direct brand and the associated skill set, which is where iGO4 came in.”
Matt Munro, MD, iGO4 Limited said: “iGO4 Limited is delighted to launch its first partnership, having invested heavily in the infrastructure and skill set required to support this and other partnership models. Our experienced team has brought numerous successful insurance propositions to market and this, combined with our tailor made infrastructure will ensure we deliver Markerstudy’s expansion goals.”
The new brands Zenith Insurance and Zenith Insurance Plus offer a standard and an enhanced Motor Insurance proposition, giving customers choice. The products will vary from what is available in the broker market and will be built specifically for the direct business. The real time pricing and other features of the iGO4 model will allow Zenith to test markets and price accordingly. Distribution will be primarily via aggregators, leveraging iGO4’s strong relationships with these sites.
Matt Munro said: “Our partnership with Markerstudy is built on strong foundations, not least the importance they have placed on anti-fraud measures. At iGO4 we want to be at the forefront of introducing insurer protection measures and lead the market on counter fraud and customer validation. These synergies bode well for success.”
Clive Fulcher commented: “Our growth plans are exciting but I must stress that this is incremental business to Markerstudy. Our broker market remains a priority and is not expected to drop below 80% of our overall written business. The overall goal for GWP is £50million within 5 years with a year one aspiration of £10million.”