Norwich Union (NU), the UK’s largest general insurance company, is launching its first online-only insurance product – Simple Cover – which is aimed at consumers who use the internet to find bargains.
The product offers fully comprehensive motor insurance, a 24-hour claims team and protected no-claims discount, but it does not include personal accident cover, medical expenses and cover for driving other cars.
A marketing campaign will focus on the Web, and branding and communications will be blue rather than NU’s traditional yellow, dark blue and green colours.
NU Insurance marketing director Shaun Meadows says the company is increasingly looking at ways to differentiate itself and attract customers without “cutting corners”. He claims that: “The market can’t continue to operate at the [low] prices that companies are charging.”
NU is also running a trial “black box” car insurance scheme that works on a pay-as-you-drive basis, which could prove cheaper for young motorists who limit the miles and hours they drive. Meadows has ruled out extending the scheme this year, but it is expected a roll-out will follow.