The partnership follows the AA posting a fall in profits as well as Admiral’s shares previously taking a hit
AA has announced a three-year strategic partnership with Admiral on a breakdown assistance contract.
It will offer AA Roadside Assistance to Admiral’s 4.3 million UK motor insurance customers.
But firms revealed the hope for this partnership to evolve beyond breakdown assistance.
It builds on the AA’s B2B strategy of “putting service, innovation and data at the heart of what it delivers” and its “positive momentum” in business services.
It follows the AA ’s profits falling more than 60 percent to £53m for the year ended January 2019 which it revealed today.
Admiral’s shares dipped last month, as well as home and travel insurance seeing losses.
Partnership
Simon Breakwell, AA chief executive officer, said: “It is a strong endorsement of our strategy. Partnerships are paramount to the success of this syndicated B2B model and the growing insurance market is critical.”
David Stevens, Admiral chief executive officer, added: “At Admiral the customer is at the heart of everything we do.
“With our two trusted brands working together for the customer we are excited to see what the AA and Admiral can achieve together to deliver an outstanding customer experience.”
Momentum
The AA claims it is upholding its position as the “partner of choice for UK roadside assistance.”
It follows the AA renewing its relationships in the motor manufacturer sector with Jaguar Land Rover, Volkswagen Group, Suzuki and Ford Europe.
Its fleet and easing segment is also continuing to grow with the retention of Lex Autolease and the addition of Arval to its portfolio, and it recently acquired Prestige Fleet Servicing.
A five-year extended contract between the AA and Lloyds Banking Group has also recently been announced.
The AA has approximately 10 million business customers out of its 13 million members.
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