SBD’s second in a three part series entitled “Understanding the UK car insurance system” has been released.

“Part 2: How to gain competitive UK insurance ratings” explains how to gain competitive group ratings in the UK car insurance system at minimal cost. It provides best practice using worked examples and suggests ways in which to manage the whole process in order to offer drivers the benefit of lower insurance costs.

It includes:

• A summary of how the group rating process works, how the main factors are evaluated and how they contribute to the rating. 
• An overall strategy for gaining competitive group ratings which includes a process for setting clear targets for new models and a structured approach to each stage of development to achieve the targets.
• Advice on how to best manage the submission timeline for new vehicles.

Also available now…

• Part 1: The process - an introduction to the UK insurance system with an explanation of how it works, the effect of recent changes to the system and the main factors that influence a car’s insurance rating.

Coming soon…

• Part 3: Thatcham and their expanding global influence - an explanation of the range of activities that Thatcham conduct for UK insurers and how their influence and methods are attracting interest outside of the UK.

UK Theft and Insurance information bulletin.pdf (890.15 kb)