Junction and HSBC off to a great start

HSBC has announced exciting statistics which clearly show the success of its new partnership with Junction. Last month, HSBC announced Junction as its new affinity partner for motor insurance and the public has now been informed that sales of new policies in September were up by over 250% year on year. The bank sells motor insurance to consumers via the internet, in local branches and over the phone. Although the insurance is provided under the HSBC Insurance brand, Junction is responsible for delivering the actual motor insurance product.

The managing director of Junction, Peter Thompson, has been kept satisfied by the news. However, he managed to remain fairly modest, preferring to discuss the “ambitious plans for HSBC’s motor insurance proposition” rather than dwelling on the “good results to date”. Thompson stated that Junction have numerous “long-term” targets and the company is now looking forward to delivering more exceptional results.

This news is extremely positive for HSBC, and the chief executive of HSBC General Insurance UK, Andy Watson, has spoken publicly about his excitement. He has revealed that the bank is “thrilled” with the new figures and stated that HSBC is seeing sales “in a single day equivalent to that previously achieved in a week”.

Watson believes that the dramatic increase in sales figures is a result of the increased competitiveness of the quotes offered by the bank since the partnership commenced. According to the chief executive, the professional approach of the staff in the bank’s branches has led to customers easily finding the right cover and subsequently feeling comfortable making a purchase.

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