Norwich Union announces comprehensive pricing review

Article date: 23 May 2001

Norwich Union has launched an innovative risk managementinitiative aimed at improving the safety of company drivers andmaximising the efficiency of fleet operators. Called 'Roadsense',the initiative will form an integral part of the insurer's fleetproduct 'Fleetwise'.

A team of 'Roadsense' risk advisors will help fleet managers toreduce accidents involving company drivers, by devising developmentprogrammes, which include both theory and practical training.

Ian Greenwood, fleet and motor trade product manager at NorwichUnion Insurance, explains; "Unlike other initiatives, which aresolely designed to cut costs, 'Roadsense' enables fleet managers totake a more comprehensive approach - reducing risk, controllingcosts and improving fleet performance. Our team of fleet riskadvisors will assess each customer's needs and will deliver atailored risk management programme for the individual fleet.

"Within the next twelve months, 50 per cent of company vehicleswill be involved in a road accident and the true cost of anaccident is many times more than the cost of repairing a vehicle.Through 'Roadsense', we can deliver a real value-added service toour customers by helping them to manage their risk.

Greenwood continued; "We have also developed a websiteexclusively for our 'Fleetwise' customers. Visitors will haveaccess to a fleet manager's guide, showing how risk management canbe integrated into an organisation's fleet operation and itsbenefits. This guide includes materials that can be printed off, tohelp fleet managers working with employees to reduce risk in theirorganisation."

Company vehicle drivers account for a third of all deaths on theroad* and driver training is proven to reduce accident rates by anaverage of 30 per cent or more.

Other features of the 'Roadsense' programme include:

  • Advice on legal issues to help fleet managers understand andmeet their legal obligations
  • Practical advice on vehicle security, to help fleet managersmake the best choices for their own fleets
  • Exclusive partnership with RAC Risk Management providingpreferential rates for:
    • risk management training aids such as Prophet (a uniquecomputer-based claims analysis system)
    • a safety and economy seminar tailored to the needs of theindividual fleet and using the company's own fleet data
    • a self-study CD Rom to deliver interactive drivereducation
    • driver training on selected driver safety courses

Commenting on the joint initiative with Norwich Union Insurance,the RAC's head of fleet safety Wayne Gardner, said: "Companies areunder increasing pressure from Government initiatives to reduce thenumber of at-work related road accidents. The implementation of acomprehensive risk management programme will pay immediatedividends in terms of reducing the number of accidents and theassociated costs. This initiative will provide long-term solutionsfor Norwich Union clients."

For more information on 'Roadsense', brokers should speak to theirusual Norwich Union contact.


Media Contact: Liz Nicholson/Jenny Chapman
Norwich Union press office on 08703 666 868

Additional information

  • * Source: DETR, Feb 2001
  • 'Roadsense' also includes 'Fleetstar' fromTrafficmaster, a market-leading fleet management systemwhich can result in significant productivity and efficiencygains.
  • Trafficmaster plc is the leading telematics company.The Fleetstar system is supported by the Trafficmastertelematics platform and combines state-of-the-art GPS trackingtechnology and a specially developed GSM module. By combining theability to view both historic and real time activity on vehiclemovements, it can provide a range of important management reportson key aspects of driver and vehicle performance, helping toimprove productivity and drive down operating costs.
  • The Institute of Transport Management has awarded NorwichUnion 'Vehicle Insurance Company of the Year 2001'. The'Roadsense' initiative has been applauded by the institute for itsexcellent product offering and the focus on customer service.
  • Norwich Union is the biggest insurer of fleet vehicles in theUK, covering 25,000 customers.

Notes to Editors

  • CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc, the UK's largest insurance group and one of the top-fiveinsurers in Europe with substantial positions in other marketsaround the world, making it the world's sixth largest insurerbased on gross worldwide premiums.
  • CGNU's principal business activities are long-term savings,fund management and general insurance, with worldwide premiumincome and retail investment sales from ongoing business of over£27 billion and assets under management of more than £210 billion(correct as at February 2001).
  • From October 2000, the combined life and pensions, generalinsurance and retail fund management businesses in the UK operateunder the Norwich Union brand, while the institutional investmentbusiness operates under the Morley Fund Management brand.
  • Norwich Union's news releases are available on the internet

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