RIAS Introduces Revolutionary New Product to UK Motor Insurance Market

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RIAS is pleased to unveil an exciting addition to its motor insurance product range: the Excess Protection Policy.

This policy, one of the first of its kind being made available to the UK motor insurance market, will be sold to customers as an additional benefit when taking out a motor insurance policy with RIAS. It is designed to reimburse customers for their excess payment in the event of them having to make a claim. The extra cost is very small, working out at a little over 25p per week, but the benefit is great, especially for those who are over 50 and on a fixed income or tight budget. It means customers need not be left out of pocket if a claim is necessary - even if the fault is theirs - and with excess amounts on some policies of up to £300, this protection represents real value for money as well as peace of mind.

RIAS Managing Director Janet Connor says: "What makes this product so attractive to customers, and sets our motor insurance product range apart from the rest, is that policyholders can be secure in the knowledge that they will get their excess back - even if they were responsible for the accident. We are genuinely excited about being one of the first in the UK to offer this product to both prospective and existing motor insurance customers. RIAS has always been well known for putting customers' needs first, and this type of innovation helps us to retain our position as frontrunners in servicing the needs of the over 50s."

The RIAS Excess Protection policy will provide the following:

  •     cover for excesses of up to £300 on motor insurance policies.
  •     cover for all named drivers on the motor insurance policy.
  •     Most importantly, cover for a customers excess even if the accident was their fault.

The policy and claims will be administered by Albany Assistance.

Janet Connor, Managing Director of RIAS is available for further comment and interview. To arrange an interview with, or photography of, Janet, please call Simon Robinson on 07976 329823 or e-mail srobinson@rias.co.uk.

About RIAS

  •     RIAS was established in 1992 and is a specialist provider of insurance products including home insurance for the over 50s age group
  •     RIAS negotiates with a panel of insurers to secure competitive, value for money products
  •     RIAS has over 970,000 customers and employs over 1,100 people across two locations - Bournemouth and Belfast
  •     In December 2007 RIAS won the 'Personal Lines Broker of the year' award at the Insurance Times awards
  •     RIAS was ranked 2nd in the 2008 Auto Express Driver Power Survey on motor insurance and was rated best for claims payout
  •     In August 2008 RIAS was awarded 2nd place by Which? magazine for home insurance customer satisfaction and rated best for settlement time on claims
  •     RIAS received a Commendation at the 2008 CCF European Call Centre awards in the 'best people practice' category
  •     RIAS was Highly Commended at the 2008 UK Broker Awards in the 'Intermediary of the Year' category
  •     RIAS is a finalist at the 2008 Insurance Times Awards in the 'Personal Lines broker of the year'

RIAS is part of Fortis (Insurance UK), a leading provider of award-winning personal and commercial lines insurance solutions in the UK and the 2007 British Insurance Awards 'General Insurer of the Year'. The insurer's successful customer-centric strategy has been founded on aligning its activities to how customers want to buy insurance, combined with delivering high quality products, manufactured at costs better than market norms.

Fortis' unique multi-distribution capability enables it to deliver products face-to-face, by phone (inbound and outbound), over the Internet and via SMS technology. Aligning its business activities with its partners' general insurance strategies enables Fortis to offer end-to-end white label capabilities in product development, marketing, campaign management, sales, fulfilment and claims - providing a seamless integration with partner brands.

Insuring in excess of 6.7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. It employs 2,901 people as of 31/12/07 with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Haywards Heath, Redditch, and Stoke-on-Trent. In 2007, its profit before tax and interest (excluding impact of weather related events) was £92.2 million and its GWP was 757.8 million.

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Sadie Sheppard
RIAS
01202 254489
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