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Assurant And Revive! Ink Deal To Offer Cosmetic Car Insurance Amid Rising Demand
A new exclusive five-year agreement has been established to provide cosmetic car insurance from Revive! Auto Innovations to over 3,000 UK dealers who sell motor warranty products from Assurant. This arrangement includes coverage for bodywork scratches, dents, and alloy wheel damage through Assurant's partner channels, including motor manufacturers, franchised dealers, and independent retailers.
Sean Kent, director of Automotive Europe at Assurant, stated: "We know from our dealers that they are seeing increased demand for cosmetic car products of this kind. There are several trends powering this but probably the most significant is that in the wake of the pandemic, most people are driving older cars and are willing to invest in keeping them looking good."
Rugby-based Revive! operates a national network of 50 franchisees and plans to recruit 180 new technicians. The company aims to grow annual sales to £40 million by 2028. Over the past year, Revive! has experienced significant growth with a 32% increase in retail sales, 27% in dealership sales, and 21% in national accounts.
Mark Llewellyn, managing director at Revive!, commented: "This is an exciting new development for Revive!, Assurant are a genuine powerhouse in the insurance sector with a strong presence in the UK motor sector. This ground-breaking deal will see Assurant customers gain valuable protection for their vehicles in the event of a minor scrape."
The deal was made in response to growing interest from dealers and motorists in car cosmetic products. The partnership aims to meet this demand while providing dealers with an improved revenue stream. Kent added: "This increase in consumer interest has very much been the driving force behind our new deal with Revive!. We spent a significant period of time looking for the right partner in this area and are impressed with everything they are able to offer."
Revive! has reported record financial results recently. The company’s expert technicians will use state-of-the-art equipment to ensure high customer satisfaction levels. Llewellyn added: "With state-of-the-art equipment, our technicians will provide industry leading customer satisfaction levels setting both Revive! and Assurant ahead of the rest of the market."
Revive!'s Achievements
Founded in 2004 and headquartered in Rugby, Warwickshire, Revive! is the UK's largest SMART repairer operating through a nationwide franchise network. In 2022, it was named bfa HSBC Franchisor of the Year by the British Franchise Association and has featured in Elite Franchise magazine’s Top 25 British franchises for eight consecutive years.
Additionally, in 2023, Revive! received the HSBC bfa Leadership & Culture Award and achieved third place in the Franchisor of the Year category at the European Franchise Federation Awards. These accolades further solidify its reputation for excellence and innovation in franchising.
Assurant's Role
Assurant Inc., listed on NYSE as AIZ, is a leading global business services company supporting major consumer purchases. With a presence in 21 countries, Assurant partners with top brands to deliver enhanced customer experiences through various solutions including mobile device solutions and vehicle protection services.
The collaboration between Revive! and Assurant is expected to drive forward sales especially at points of sale while meeting motorists' needs effectively. Llewellyn concluded: "Dealerships across the country already utilise Revive!’s SMART repair services and this partnership with Assurant will only help more customers to maintain the high-quality finish of their vehicles."
For more information about Revive!, visit www.revivefranchise.com or contact Joe Slinn at Red Marlin via [email protected] or call T 01926 832395. For details about Assurant, visit www.assurant.co.uk or contact Simon Wells at Paperchase PR via [email protected] or call T 07768 912430.
This collaboration marks a significant step forward for both companies as they aim to meet growing consumer demands while expanding their market presence effectively.
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