Claims firm woops up new business
A SUFFOLK-BASED claims firm is motoring into new territory with the launch of a new venture aimed at young drivers.
CAA Ltd has created WOOP Cover Ltd, providing competitively priced motor insurance to 17 - 24 year olds, as it gears up for its seventh year in business.
WOOP Cover will run alongside CAA’s successful claims handling business, which was launched in Ipswich in November 2004 and now employs more than 100 staff.
It now boasts a string of household name clients and operates from an 11,500ft sq site at Felaw Maltings.
The WOOP marketing team has already been on the road across the UK, attracting attention with its fleet of branded cars and lively team.
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“We’ve been delighted with the response so far,” said director David Hayward. “We decided to be innovative in our approach to reaching a younger and very different, market, so we have quite literally been out on the streets. We’ve taken our cars and travelled to many towns up and down the UK, visited a number of landmarks and got the ball rolling using social networking.
“Our fresh approach has really paid off and we have the contact details of a good many younger people interested in a closely targeted insurance policy – one that has been designed with their needs recognised,” he added.
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The directors’ extensive experience of the insurance industry led them to believe that there was a niche in the market for insurance aimed specifically at the 17-24 year old market.
“We’ve all heard horror stories of huge premiums that this age group are asked to pay to get even quite modest cars on the road, said Mr Hayward.
“Let’s face it, many of them are struggling to find work and rising costs of fuel are hitting them hard too.”