NCI doubles pet policies with AXA book buy

NCI Vehicle Rescue has almost doubled the number of pets it insures after signing a deal to acquire a book of pet business from AXA Insurance.

The deal will bring around 10,000 new clients to NCI’s pet insurance business, the broker said.

AXA stopped selling pet insurance through its AXA Direct and Swiftcover brands last July.

At renewal the owners of cats and dogs insured by AXA will be offered the chance to transfer to NCI Insurance Services on policies underwritten by Elite Insurance.

Group managing director Neil Richards-Smith said policyholders would be offered the same cover and very similar policy wordings with no exclusions.

NCI will hold weekly meetings with AXA’s service provider BDML to organise the transition of client data and history before inviting clients to renew their policy.

“We will write to them to explain that we’re a different company but have worked with AXA to make sure they’ve got the same cover and if they have claims they’ll be paid out,” Richards-Smith said.

NCI also owns the Cover4Pets brand, which is sold through brokers and vet practices.

In order to make its new book profitable, Richards-Smith said NCI had “made some tweaks” to the pricing of certain animal breeds and rates.

Richards-Smith said he was looking to acquire books of business or personal lines brokers.

“Whether it’s in breakdown, motor, home or pet insurance, we’ve got big growth plans,” he said.