ERS, the UK’s largest specialist motor insurance underwriter in the Lloyd’s market, is celebrating 70 years in the industry.
At an event hosted by the company to mark the anniversary, chief executive Ian Parker reflected on the milestone and ERS’s journey as a provider of bespoke motor insurance, which now sees ERS provide cover for over 750,000 vehicles, and write more than 500,000 policies each year.
Mr Parker also considered the opportunities and challenges facing the motor insurance industry today, whilst setting out his vision for the future of the specialist motor market.
Reflecting further he said:
“As we reach our 70th anniversary we are proud of our heritage and proven ability to cover risks that others don’t have the capability to insure. Through our teams of expert underwriters and claims specialists we offer brokers tailored solutions that protect their customers’ livelihoods and passions. This is why we are the go-to motor insurer for brokers who need someone to underwrite and understand unique risks.”
At 70 years of age, the Government ensures that every driver renews their licence. So what does a renewed licence mean for ERS looking forward and the future of the specialist motor market?
- Deliberately different: The combination of being the largest specialist motor insurer in Lloyd’s, our focus on drivers with needs that are different, or more intricate and our investment in expert underwriters and claims specialists create an offering that is distinct from the mass market. We will continue to seek out risks where proficiency of underwriting is front and centre and develop solutions to meet specific needs while generating profitable growth.
- Insurer/broker relationships: We believe that although motor insurance is a must-have, customers should never be under or over-insured. We remain committed to distribution solely through specialist brokers - whose knowledge and understanding of their markets and customers together with ERS’s superior underwriting and claims capability and capacity, continues to drive mutual and sustainable relationships.
- An IT investment for growth: We have invested £20m in an IT system that provides us with an efficient back office and the ability to adapt our processes and procedures to suit the changes in the market and the growth in the business. The efficiencies created enable us to place full focus on continuing to achieve sustainable growth and on helping many of our broker partners achieve their growth potential also.
- Sustainability and consistency: In a year that has seen the collapse of two major underwriters, and other carriers continuing to compete on price alone, we believe it’s vital that rate strength prevails in the UK motor market. We remain committed to being a sustainable business whose consistent underwriting approach, together with A+ rating, provides our brokers and their customers protection in a volatile market.
Commenting on the wider insurance industry Mr Parker concluded;
“We live in a dynamic market with changes in legislation, tax rates and Brexit all to be faced in the next two years. We believe that with our expertise and our ability to provide our customers with the right insurance every time, that there is considerable potential for ERS in this competitive market.”
ENDS
For more information please contact:
Louise Naqvi
ERS Head of PR
07825 032262 louise.naqvi@ers.com
Or Liz Morley or Charlie Harrison at Bell Pottinger: lmorely@bellpottinger.com – 020 3772 2557 charrison@bellpottinger.com – 02037 722 579
Notes to Editors:
About ERS
ERS has been providing insurance products for 70 years and provides insurance to more than 500,000 policyholders through Lloyd’s syndicate 218. ERS offers a diverse range of products, including private car, classic car, van, motorcycle, taxi, minibus, fleet, haulage, agricultural vehicle and motor breakdown.
