Junction, BGL Group’s partnership business, is one of the shortlisted companies in the Digital Insurance Innovation of the Year category at this year’s British Insurance Awards.
In the third part of our blogs looking at the contenders, we talked to Junction about recent innovations and developments in its insurance telematics business.
Junction, BGL Group’s partnership business, has been reporting record sales with its e-commerce and data capability that has become attractive to many brands. Formed in 2002, Junction creates value-added propositions specifically crafted for service and quality to meet the needs of consumers of brands like M&S Bank, Co-op Insurance, RAC Insurance, Post Office, Lloyds Bank, Halifax, and Santander. The company handles over 2 million customers per year.
Gary Duggan, Junction Managing Director, commented: “At Junction we are always looking for opportunities to push boundaries and challenge norms and are pleased to be recognised for our innovative and forward thinking within the insurance market.”
Car insurance can rarely be described as innovative. Yet Junction and O2 created O2 Drive, a new app-enabled car insurance product that uses technology to insure customers for who they are and reward them as they drive. O2 Drive won the Digital Service Innovator of the Year award for advancing a ‘smart revolution’ in society through O2 Drive at TM Forum’s annual Digital World Awards. The O2 Drive Box on board, the next step in the journey, will be coming soon.
Junction also recently extended its partnership with the RAC to launch RAC Black Box Insurance, a new telematics-enabled product aimed at the under-25 market. RAC Black Box will provide drivers with the opportunity to lower the cost of their premiums through safe driving and is not restricted with a curfew or mileage limitations.
“Our innovative focus is helping increase the diversity of the products and services that Junction is able to offer partners in order to meet the needs of its customers,” said Duggan.
“I am confident that this focus will also help us reach our goal of becoming the partner of choice for leading brands in the UK insurance industry.”
In the Digital Insurance Innovation of the Year category, sponsored by LexisNexis Risk Solutions, the shortlisted companies are: Allianz Insurance, AXA Business Insurance, Claims Consortium Group, Halo Insurance Services, Junction/BGL Group and Tempcover. Good luck to all the contenders!
See more at Lexis Nexis Blog.