This was from last months Miscellany. I've highlighted some interesting bits
The new MSCC Insurance scheme with Peter James Insurance has now been live for 3 months.
From the start we have seen a steady flow of requests for quotes and we have achieved a very positive conversion rate to active policies. It is one of the key objectives of this scheme to provide a competitive quote across the entire range of members’ cars. This of course, is a very wide spectrum of vehicles in terms of ages, values (and number of wheels) and presents a challenge in the context of a classic car policy. What this means is that the Brokers (Peter James in our scheme) and their Underwriters have to structure their pricing to reflect that complete profile of the business coming to them.
Over the first few months of the scheme we have received a steady flow of feedback directly from a number members. This feedback, especially when it says ‘you are not competitive’, is extremely helpful to us. Looking at these responses we have been able to see the areas where we have probably not predicted the profile correctly, and then we have been able adjust the scheme to make those areas more competitive. What this has meant is that for some members we have not been able to win their business. We regret that situation, but, we are adjusting and so the scheme will evolve over time. Car Insurance generally is an extremely competitive market and the general advice is that you should always shop around. If we were not able to meet your needs this year then we hope to have an opportunity to quote for you in the future. One incidental impact of the new scheme is that former scheme providers may have felt it prudent to adjust their own rates to retain business, that too is a benefit to members.
As I have said in previous pieces, the commercial incentive and the commercial risk of this scheme lies with Peter James. Providing good value, comprehensive and unique benefits to the maximum number of members is the goal and they are working hard to achieve that. Please continue to provide the feedback (positive as well as negative), it is important.
So who is writing this, the club or the insurer?
Bluff writing.
For instance the bit about incidental benefit of other insurers holding prices..rather unnecessary eh?
And the last bit about unique benefits to maximum number. Anyone know of one unique benefit?
This is just a weak self justification to disguise what is clearly a simple financial incentive.
Incidentally, my insurer readily agreed a valuation based solely on 6 photos emailed by me. No need for a signed by dealer valuation. My insurer does not require the car to be locked or enclosed in any way.
Chaps, this is smoke and mirrors by the club. They're just making a commission on each member as is revealed by the one voice representing two different players.
