HSBC boosts number of car insurance customers

Tue, 28 Oct 2008

A partnership between HSBC and Junction enabled the bank to attract a record number of new car insurance customers in its first month.

Figures released by the institution show that car insurance policy sales in September were up by around 250 per cent year-on-year.

Andy Watson, chief executive of HSBC general insurance UK, claimed that the partnership has allowed the bank to improve the competitiveness of its car insurance quotes .

He said: "It means that customer conversion rates have improved dramatically, making our marketing activity much more efficient."

HSBC is also able to offer people car insurance for a wider range of risk than in the past because of the deal, Mr Watson added.

Yesterday, Will Thomas, head of car insurance at Confused.com, urged people to shop around to make sure they get the cheapest possible policy.

According to Mr Thomas accessing cheap car insurance is even more vital than in the past due to the impact of the credit crunch.
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