Car insurance take-up soars at HSBC
Wednesday, 29 Oct 2008 11:07
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The number of motor insurance policies being sold through HSBC has soared by around 250 per cent in September, it was revealed this week.
Junction, the motor insurance provider, teamed up with the bank to provide cover to customers via branches and comparison websites in September.
And in just over a month HSBC has reported seeing sales of motor insurance in a single day equivalent to that previously achieved in a week.
Andy Watson, chief executive of HSBC General Insurance said: "The difference is the competitiveness of quotes we are now able to offer our customer base, plus the panel approach means we can offer cover to people across a much wider range of risks.
"It means that customer conversion rates have improved dramatically, making our marketing activity much more efficient."
Junction, which is part of the BGL Group, said by providing insurance through HSBC the bank's customers benefited from dealing with fewer financial providers.