One major provider of discount car insurance in the UK has recently pledged its future to London, as the chief executive officer of the firm has said that it is ‘here to stay.’
General and motor car insurance provider Aviva will not be following the Prudential’s lead in considering a move abroad, said Andrew Moss in a recent interview. Aviva will be the last one to leave the capital, Mr Moss said, stating that ‘you’d be turning the lights out in the City’ before the insurer pulled up its tent stakes to move on.
Mr Moss also said that, even as Aviva announced rising operating profits of £2.16 billion, the firm would not be resting on its laurels, as there are plans for the launch of a new iPhone app that could would offer discount car insurance to drivers based on their driving style and speed in order to reduce motoring costs for the nation’s beleaguered drivers.
Aviva’s UK division head, Trevor Matthews, added more, stating that the app is currently in the experimental phase and should be available later in 2012. The app provides you with all sorts of information if you have it with you while in the car, Mr Matthews said, though there are still kinks being worked out even as he spoke.
Some European insurance providers have been considering relocating their headquarters abroad ahead of the new Solvency II reforms in an effort to avoid the stringent capital requirements enforced by the new legislation. Aviva is committed to remaining in the UK, Mr Moss said, though he still called on the Treasury to continue its lobbying efforts to change the Solvency II laws.