AA pips Aviva to become fastest growing car insurance brand

The AA is currently the fastest growing car insurance brand across the UK, new data has revealed.

According to figures published by Consumer Intelligence yesterday (31 August 2023), the AA boasted a 1.2% increase in its share of the UK general insurance market in the six months to April 2023.

This made it the insurer with the most momentum during the period, although rivals were hot on its heels.

The data showed that Aviva was close behind after seeing a 1.1% growth in market share, while LV came third with a figure of 0.9%.

Axa was fourth on the list, followed by First Central, Admiral, Tesco, Ford, Hastings and Flow.

The AA topped the table after revealing earlier this year (20 April 2023) that it had grown its motor policy book by 4% for the year ending January 2023.

The insurer said it was “carefully balancing growth with profitability and management of claims inflation”.

“During the year, we continued to make improvements in our customer journey, which helped to deliver consistent and healthy cross-sell conversions into our roadside business, with a third of all new business now simultaneously buying roadside cover,” the AA added.

Price comparison websites

Consumer Intelligence gathered the data using its insurance behaviour tracker.

This records the buying journey and considerations of consumers throughout the renewal process to show the providers gaining or shedding market share.

Whilst the AA may have pipped Aviva to the post on momentum, Aviva led the way with the most market share captured (8.3%) in the six months to April 2023.

Admiral followed with a figure of 8.2%, followed by LV, Direct Line, Hastings, AA, Churchill, Axa, Tesco and Saga.

Consumer Intelligence said that price comparison website (PCW) distribution had been a “key driver” for Aviva’s growth since the latter part of 2020.