Move will extend Countrywide's product range
Equity Red Star has formed a strategic partnership with the independent broker network, Countrywide.
The addition of Equity to the Countrywide strategic insurer partner panel will increase the range of specialist / non-standard products available to the network’s 700 Members, particularly in motor and fleet.
It also extends Countrywide’s relationship with the Equity Group in the UK, having formed a trading partnership with another of its companies, Hastings Insurance Services, 18 months ago.
David Grant, head of sales and marketing at Equity said: "This is a significant move for Equity. The broker distribution channel is at the heart of our business and we recognise that networks are playing an increasingly important role.
“With 700 Members controlling nearly £2.4 billion in premiums, Countrywide gives us access to a significant share of the market. The partnership will allow us to expand our distribution via a wider range of intermediaries and Countrywide Members will benefit from preferential rates and commission advantages. The network’s new initiatives such as Partner Broker are particularly attractive, with initial results demonstrating a tangible influence on business placement.”
Mark Ryder, commercial director at Open International, said: “We choose our strategic partners very carefully on the basis of financial strength, commitment to the broker market, electronic trading and a shared future business strategy. It was very clear from the outset that we would be able to form a mutually beneficial relationship. Equity will complement our panel of insurers and will add significant additional value to Membership. We are delighted to welcome them on board.”
Equity Red Star products cover private car, classic car, motor trade road risks, vans, motorcycle, taxis, minibus, fleet, haulage, agricultural vehicles, motor breakdown, household and personal accident.
Countrywide strategic insurer partners include Allianz, AXA, Fortis, Groupama, MMA, Towergate and Zurich.
