Covéa Insurance and Vitality launch ‘VitalityCar’

16 June 2021

The newly launched partnership between Covéa Insurance and Vitality brings a dynamic new car insurance offering, incentivising and rewarding safer, greener driving.

Covéa Insurance and Vitality have today launched a new direct-to-consumer car insurance proposition which incentivises and rewards good driving and enables UK motorists to better control their insurance costs. The dynamic new product enables drivers to measure and improve their driving behaviour after each trip, earning rewards for driving more safely and making greener choices. 

The partnership aligns Covéa’s underwriting and digital capabilities and strong customer culture, with Vitality’s innovative market and customer proposition. 

VitalityCar represents an extension of Vitality’s successful Shared Value insurance model, which uses incentives and rewards to promote positive behaviour change among members in its health and life insurance and investment businesses. 

At the heart of VitalityCar is access to the Good Driving Programme, designed to help drivers improve the five key behaviours that contribute to half1 of all road accidents: harsh acceleration, harsh braking, harsh cornering, distracted driving and speeding. As an additional incentive, Vitality will offset up to 100% of the carbon emissions from each trip, depending on how well someone drives2

Good driving will unlock weekly rewards from Caffé Nero and Rakuten movie rental, while drivers demonstrating the safest driving behaviours, as defined by the Good Driving Programme, will have the opportunity to reduce their excess by £250 and receive a no-increase guarantee at renewal3

Andrew Webb, Managing Director of VitalityCar said:

Vitality was founded on the simple belief that people can be incentivised to change their behaviour and by rewarding them for doing so, it creates a virtuous circle of improvement. 

We are now applying our Shared Value insurance model to car insurance with a dynamic product that consistently encourages and reinforces good driving, rewarding members for driving safely and for making choices that are better for the environment. 

“With VitalityCar, people can access insurance that better reflects their individual risk. The drivers with the safest driving behaviours will have the opportunity to reduce their excess by up to £250 and earn a no-increase guarantee at renewal.” 

James Gearey, Managing Director of Personal Lines and Protection for Covéa Insurance said:

“Our partnership with Vitality is a major milestone for our business strategy and technology roadmap. It is also a really exciting development for the wider insurance market. The regulatory environment is changing as are customer needs. We have to evolve and innovate to make sure we deliver products that provide value and allow consumers the choice to live their lives in the way that they want.”

Notes to editors 

1 UK Department of Transport’s reported road accident data shows that driver behaviour (harsh acceleration, harsh braking, harsh cornering and speeding) and distraction contributed to 50% of all reported road accidents in 2019. Source: Department of Transport: Contributory factors to reported road accidents 2019. 

2 The carbon offset calculation will be based on car fuel and emissions information provided by the DVLA. Vitality will contribute to an accredited Carbon Offset project or projects. 

3 Rewards include up to £250 off a member’s excess, depending on their Vitality status and the opportunity to receive a no-increase guarantee on their premium at renewal if they achieve Gold or Platinum status and remain claim-free during the year.

 

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About Covéa Insurance

Covea Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.6 billion Euros in premiums in 2020.   

Covéa Insurance looks after the insurance needs of over 2 million policyholders; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels.

Employing over 1900 people, Covéa Insurance has a strong people and service ethos.  It holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business.  Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber.

Recently, Covéa Insurance has been named as the Best Place to Work in Digital (Large Organisations) at the Digital Technology Leaders Awards and as the Best Employer at the Yorkshire Financial Awards.  They were also recipients of the High Net Worth Product of the Year Award at the Insurance Times Awards, the Staff Empowerment Award at the Diversity & Inclusion in Insurance Awards, and the Diversity Award at the British Insurance Awards.

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