Equity Direct Broking has recently been appointed by Silverstone Circuit to administer its bike and classic car insurance schemes, industry experts report.
New ground was broken on the deal on both sides, as this is Silverstone’s first time at attempting motor car insurance provision, and this is the first motorsport and leisure affinities sector deal for Equity Direct as well. The broking firm will now be offering ‘Silverstone’ branded discount car insurance to a built-in customer base that exceeds 300,000 circuit event consumers and motorsport fans.
Equity Red Star will be underwriting the classic car cover on a solos basis, while Equity Direct’s market panel will be providing bike cover. Equity Direct’s Colchester customer contact centre will administer both schemes.
Equity Direct managing director, Charles Offord, remarked that Silverstone, with its new pit lanes and grandstand about to open, is the most well-known mortorsport venue in the world. Other UK circuits are laps behind its revenue maximisation strategy of offering enthusiasts ancillary services such as insurance cover, Mr Offord added. The managing director sees Equity Direct’s partnership with Silverstone as an important first step to the delivery of its expertise to sectors beyond its existing specialities of financial services and motor manufacturing.
Justin Elias, marketing director for Silverstone, remarked that the company’s new bike and classic car insurance products being overseen by Equity Direct will be the most comprehensive services currently available to consumers. Equity Red Star, the largest motorcycle insurer in Britain, is backing Equity Direct, making the entire package representative of true benefit and value – key considerations for Silverstone’s supporters and customers.
Equity Direct’s deal with Silverstone follows on the heels of its agreements with other brands such as HSBC, First Direct, and Santander, in addition to motor brands Triumph, Mazda, Honda, and Renault.