Direct Line

Last updated

Direct Line
Direct Line
Industry Insurance
Founder Martin Long
Peter Wood
Headquarters Bromley, England, UK
Key people
 Jonathan Greenwood, CEO
Products Vehicle insurance, Home insurance, Pet insurance, Life insurance, Travel insurance, Business insurance
Brands Direct Line for Business
Number of employees
<10,000
Parent Direct Line Group
Website www.directline.com

Direct Line is an insurance company based in Bromley, England. Founded in 1985, as the country's first direct car insurance company, it has since expanded to offer a range of general insurance products. Its policies are underwritten by the regulated subsidiary UK Insurance Limited, and it is owned by the Direct Line Group.

Contents

History

It was founded in Croydon by Martin Long and Peter Wood in 1985 as the insurance division of Royal Bank of Scotland. [1]

In 1988, it started to sell home insurance. Direct Line is renowned for having transformed financial services in the United Kingdom. [2]

The mascot had altered slightly over the years; being accompanied by a red mouse on wheels to represent the company's website in 2005, which was dropped in 2020, with another re brand leaving the phone on its own once more. [2] In September 2014, the brand worked with Saatchi and Saatchi to relaunch its advertising, which saw Hollywood actor Harvey Keitel reprise his role as the character Winston Wolfe from the 1994 film Pulp Fiction . [3] The company had one million customers after eight years by June 2003. [4]

The innovations extended into the 2000s with the launch of the first online claims registration and tracking facility in the United Kingdom for its motor insurance customers in 2001, and Home Response 24 Emergency Insurance, launching in 2003. [5]

In December 2024, Direct Line launched three motor insurance products on the price comparison website which are available on Compare the Market. [6]

Controversy

In January 2012, Direct Line, along with sister company Churchill Insurance, was fined £2.17m by the FSA, after being found guilty of altering complaints files. [7]

Awards

Direct Line has won a number of awards including:

Rebranding

In Italy and Germany, Direct Line was acquired by MAPFRE Group in September 2014, and re branded to Verti in January 2017. [11] Verti is a brand owned by MAPFRE Group, operating in Italy, Germany, Spain and the United States. [12]

Related Research Articles

<span class="mw-page-title-main">Financial Services Authority</span> 2001–2013 UK quasi-judicial body

The Financial Services Authority (FSA) was a quasi-judicial body accountable for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985. Its board was appointed by the Treasury, although it operated independently of government. It was structured as a company limited by guarantee and was funded entirely by fees charged to the financial services industry.

<span class="mw-page-title-main">President's Choice Financial</span> Subsidiary of the Loblaw Companies

President's Choice Financial, commonly shortened to PC Financial, is the financial service brand of the Canadian supermarket chain Loblaw Companies.

Hyundai Capital Services (Korean: 현대캐피탈) is a South Korean provider of consumer financial services ranging from auto-financing, private financing, and corporate financing. The company is a financial service unit of Hyundai Motor Group. Hyundai Capital operates in 12 countries – Korea, the U.S., the U.K., China, Germany, Canada, Russia, Brazil, India, Australia, Indonesia, and Singapore.

<span class="mw-page-title-main">Aegon UK</span>

Aegon UK (Aegon) is an Edinburgh based financial services provider specialising in pensions, investments and insurance.

Mahindra & Mahindra is an Indian automobile manufacturing company headquartered in Mumbai, Maharashtra. It was established in 1945 as Mahindra & Mohammed and later renamed Mahindra & Mahindra. Part of the Mahindra Group, M&M is one of the largest vehicle manufacturers by production in India; the Mahindra Tractors subsidiary is the largest manufacturer of tractors in the world by volume. It was ranked 17th on a list of top companies in India by Fortune India 500 in 2018. Its major competitors in the Indian vehicular market include Maruti Suzuki India and Tata Motors. Dr. Anish Shah is the current CEO and Managing Director of Mahindra & Mahindra.

<span class="mw-page-title-main">Vanquis Banking Group</span> British sub-prime lender

Vanquis Banking Group, formerly Provident Financial plc, is a British bank headquartered in Bradford, England which specialises in credit cards, loans and consumer vehicle finance. It primarily services customers with a sub-prime credit history who have been declined for credit from mainstream lenders. It also offers fixed-rate and notice savings accounts under the trading name Vanquis Savings. It is listed on the London Stock Exchange.

<span class="mw-page-title-main">Mapfre</span> Spanish multinational insurance company

Mapfre, S.A. is a Spanish multinational insurance company, based in Majadahonda, Madrid. The name comes from the old mutual origin of the company, but the company now only refers to itself as Mapfre. It is the leading insurance company in Spain and the largest non-life insurance company in Latin America.

Liverpool Victoria, trading since May 2007 as LV=, is one of the United Kingdom's largest insurance companies. It offers a range of insurance and retirement products.

Green Flag Limited is a British roadside assistance and vehicle recovery provider, which is part of the Direct Line Group. Formed in 1971, as the National Breakdown Recovery Club, as an alternative to the AA and RAC, it used a network of local garages and mechanics to deliver recovery and repair services, instead of patrolling mechanics.

Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets and fourth largest by market capitalisation. It sells financial services to large and mid-size companies, SMEs and retail businesses.

<span class="mw-page-title-main">NatWest</span> British retail and commercial bank

National Westminster Bank Plc, trading as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. As of November 2024, the British government owns 10.9% of NatWest Group after spending £45 billion ($61.87 billion) bailing out the lender in 2008; the proportion at one point was 54.7%. NatWest International is a trading name of RBS International, which also sits outside the ringfence.

Comparethemarket is a UK price comparison website, founded in 2006, that is part of the BGL Group. The website also offers other on-line companies the ability to provide their customers with a co-branded or white labelled comparison service.

Kogan.com is an Australian portfolio of retail and services businesses including Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Travel, Kogan Money, Kogan Cars, Kogan Energy, Dick Smith, Matt Blatt and Mighty Ape. The company was founded in 2006 by Ruslan Kogan.

Churchill Insurance is a British insurance company based in Bromley, London. Founded in 1989, as one of the country's first direct to customer car insurance companies, the company has expanded to offer a range of general insurance products. Since February 2012, Churchill is part of the Direct Line Group; policies are underwritten by the parent United Kingdom Insurance Limited.

GoCompare.com Limited, trading as Go.Compare is a Welsh financial services comparison company based in Cardiff, Wales. Its website provides comparison details for financial products including car insurance, home and pet insurance and breakdown cover. Since 2021 it has been owned by Future plc. The company's advertising campaign in 2015 was voted as the "most irritating advertisement."

<span class="mw-page-title-main">Direct Line Group</span> British insurance company

Direct Line Insurance Group plc is a British insurance company based in the United Kingdom, formed in 2012 by the divestment of The Royal Bank of Scotland Group's (RBS) insurance division, through an initial public offering. The company owns a number of insurance subsidiaries, providing various insurance products, including Direct Line and Churchill, Darwin as well as the roadside assistance and vehicle recovery provider Green Flag.

<span class="mw-page-title-main">Click Energy</span> Australian energy retailer

Click Energy was an Australian energy retailer selling electricity to residential and business customers in Victoria, New South Wales, South Australia and Queensland.

More Than is an insurance company based in the United Kingdom that offers home, pet and travel insurance. Its business arm More Than BUSINESS offers business insurance. The company is a subsidiary of the RSA Insurance Group.

<span class="mw-page-title-main">Simplii Financial</span> Banks of Canada

Simplii Financial is a Canadian direct bank and the digital banking division of the Canadian Imperial Bank of Commerce (CIBC). It offers no-fee chequing and savings accounts, a VISA credit card, Guaranteed Investment Certificates (GICs), mortgages and mutual funds. These savings and investment products are also eligible for registration under a Tax-Free Savings Account (TFSA) or a Registered Retirement Savings Plan (RRSP).

<span class="mw-page-title-main">Future Generali India Insurance</span> Indian insurance company founded 2006

Future Generali India Insurance (FGII) Company Limited is a private general insurance company in India. The company is a joint venture between the Future Group and Generali Participations Netherlands N.V.. As of 2022, Generali Group it is the largest insurance company in Italy and ranks among the world's largest insurance companies by net premiums and assets. The company's portfolio comprises insurance products categorised within Personal, Commercial and Social/Rural Insurance.

References

  1. ↑ "Halifax opens fire in motor cover war". The Daily Telegraph . London. 10 January 2001.
  2. 1 2 (1 March 2004) Superbrands case studies: Direct Line Archived 2 October 2017 at the Wayback Machine Campaign
  3. ↑ Kemp, Nicola (1 August 2016). Case Study: how Direct Line fixed the insurance market Archived 9 July 2017 at the Wayback Machine Campaign Magazine
  4. ↑ Finch, Julia (27 June 2003). Cover model - Peter Wood, the founder of Direct Line Archived 11 September 2014 at the Wayback Machine The Guardian
  5. ↑ Royal Bank of Scotland - Heritage - Companies - Direct Line Archived 2 October 2017 at the Wayback Machine RBS.com
  6. ↑ Shaw, Vicky (20 December 2024). "Direct Line launches new motor insurance products on price comparison website". The Independent. Retrieved 21 December 2024.
  7. ↑ Jill Treanor (18 January 2012). "Churchill and Direct Line fined £2.1m by FSA". The Guardian . Archived from the original on 13 April 2014. Retrieved 18 January 2012.
  8. ↑ "FSForum Awards for Marketing Effectiveness" (PDF).
  9. ↑ (22 August 2016). YourMoney.com Awards 2016: Direct winners Archived 6 July 2017 at the Wayback Machine
  10. ↑ (17 August 2015). Your Money Awards 2015: Direct winners Archived 2 August 2016 at the Wayback Machine
  11. ↑ "MAPFRE closes acquisition of Direct Line in Italy and Germany after obtaining authorization from regulatory bodies".
  12. ↑ "Mapfre ultima el lanzamiento de Verti, su filial digital, en EEUU". 22 October 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.