Background

CHEW Insurance is an established specialist insurance intermediary to the UK travel market for over 20 years, with a developed reputation of providing quality products to their customers. Their mission is to offer the best car hire excess insurance products, while recognising the diverse needs of their customers. CHEW Insurance is featured in Which? Magazine, earning Best Buy status and recognition as one of the top three car hire excess insurance providers with a score of 79%. 

Challenge

In the wake of COVID-19, CHEW Insurance faced challenges as their previous underwriter pulled out of the market. This left the company searching for a new partner to support their offerings in the car hire excess insurance space. CHEW Insurance needed to find new ways to innovate and differentiate their products from others to maintain their market position. 

Solution 

CHEW Insurance sought the underwriting services of Acasta, known for its niche insurance solutions. Acasta assisted CHEW Insurance, providing a strong product offering, including cover of up to £10,000, coverage for excess charges if the rental vehicle is damaged or stolen. Cover also includes coverage for damage to tyres, windscreen and the vehicle’s underbody. This partnership allowed CHEW Insurance to relaunch their product in the market and continue their growth trajectory. 

Key Product Features

• Comprehensive Policy: The partnership enabled CHEW Insurance to offer a highly competitive car hire excess insurance policy with a policy limit of £10,000, which was higher than most competitors at the time. 

• Claims Handling: A key success factor was the seamless claims process facilitated by Acasta. CHEW Insurance highlighted how critical this aspect is for maintaining customer trust.  

• Continued Support: Acasta has continued to provide support, ensuring that CHEW Insurance’s customers receive ongoing assistance beyond the initial policy sale. CHEW Insurance continue to liaise with our underwriting team to ensure that the product is both effective and continues to provide fair value for the customer. 

Results 

Since working with Acasta, CHEW Insurance has strengthened their favourable position in the market, receiving a 79% Best Buy score from Which? Magazine. This impressive result a testament to the strategic car hire excess insurance policy developed by our underwriting team in collaboration with CHEW Insurance, ensuring that their product and aligns with customer needs, while giving them market advantage. This ongoing success highlights the effective partnership between Acasta and CHEW Insurance. 

Future Goals

CHEW Insurance aims to elevate their Which? rating, with a target of reaching 90%. This shows a commitment to their customer offering with better service and value as they aim to expand their presence on similar platforms to re-establish relationships with key financial comparison websites. 

Client Feedback 

Robert from CHEW said, “Our experience collaborating with Acasta during the onboarding process was exceptional. Their responsiveness and efficiency stood out, and the willingness to provide expert guidance truly made the process very straightforward. The Acasta team were instrumental in successfully re-launching CHEW Insurance on July 1st. We’re genuinely excited about our partnership with Acasta and eagerly anticipate a fruitful business relationship moving forward.” 

Conclusion 

The partnership between CHEW Insurance and Acasta has been successful in providing a high-quality car hire excess insurance product that continues to meet customer needs. With ongoing collaboration and support, CHEW Insurance is poised to further improve their market standing and expand their reach.