AUTO TRADER LAUNCHES ITS NEW REDEVELOPED INSURANCE AGGREGATOR SERVICE
February 5th, 2008Auto Trader, the UK’s no 1 motoring website and magazine, has successfully launched a new insurance aggregator service, which compares its own insurance product against more than 100 other prices from major UK insurance providers.
Quote volumes have already increased by more than 20% since its launch in January 2008, and sales for the first month of trading exceeded 8,000 policies, well ahead of forecasts set by the business.
Tom White, Head of Financial Services at Auto Trader, comments: “We aim to make the world of motoring easy for consumers, and that includes the world of car insurance. Clearly we want consumers to purchase Auto Trader Insurance and we have a great product offering, but we understand that consumers also want to compare various insurance products and prices before making a decision on which to buy. Our new aggregator service enables them to do just that. We’ll be adding further product benefits to Auto Trader Insurance and bringing new insurers onto the aggregator throughout 2008, to further improve our offering.”
In a recent Auto Trader insurance survey*, nearly 30% of motorists commented that when it comes to renewing their insurance, they will go online and get quotes from insurers, with 37% using the Internet to get quotes from price comparison sites. (*Source: Auto Trader, January 2008)
A total of 78% of motorists claim to have used a price comparison website in their search for insurance, with 30% commenting that quotes via a price comparison site were very accurate.
Auto Trader has launched its own on-line insurance product, partnered with Junction, part of the Budget Group Limited (BGL) Group, the leading personal lines intermediary.
Auto Trader has positioned itself as the channel of choice for buying and selling a new and used vehicle, built on the combination of local targeting and comprehensive national coverage and can be accessed via its magazine, website and WAP components.
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Notes to Editor:
• With 13 regional Auto Trader magazines across the UK and the Republic of Ireland, the brand is building a competitive position across all effective channels including print, the web and WAP.
• Auto Trader is owned by Trader Media Group, which also publishes market leading niche titles such as Top Marques, Bike Trader, Truck & Plant Trader, Ad Trader, Motorhome and Caravan Trader, Farmers Trader, Auto Freeway, TNT magazine – all with the largest reach in their sectors, through magazine readership and web visitors.
• Trader Media Group publishes over 70 titles every week with a combined circulation of 1.5 million and has leading websites for its top titles.
• Trader Media Group, a division of Guardian Media Group, employs over 3,900 people across 40 locations in the UK, Ireland, Holland, Italy and South Africa. The Group is looking to expand on its winning formula - developing a one-stop-shop for motorists; giving trade customers the opportunity to choose all effective channels to market; building the service and relationship with dealers and manufacturers; and strengthening its portfolio of automotive and specialist classified titles.
For further information, please contact:
Karen Hughes/Caroline Burnell
The Drum Consultancy
Tel: 020 7025 8044
Fax: 020 7025 8100
Email: karenh@drumbeat.co.uk
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