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This company is the market leader in the UK for general
insurance and is part of Aviva who are the fifth largest insurance
group in the world. Norwich Union is authorised and regulated in the
Financial Services Authority and was re-launched as a brand following
the merger of the CGU and the old Norwich Union in May 2000.
In addition to health, life, retirement, mortgage, travel, savings and
other insurance products Norwich Union insures one in seven cars, one
in five households and approximately 800,000 small, medium and large
businesses in the UK. Its customer base currently totals 4.3 million
and continues to grow following organic growth and company acquisitions
such as the RAC and HPI who provide vehicle checks.
Norwich Union’s vast size means its can sell general
insurance products including car, home, breakdown and business
insurances
through direct sales, brokers and corporate partners who include HSBC,
Barclays, Abbey and the supermarket retailer ASDA. The total number of
products available to the public and businesses is 70 and growing.
As you would expect Norwich Union spends large amounts on research and
development and the culmination of this recently resulted in the launch
of Pay As You Drive insurance scheme in 2006 which involves the use of
the latest in car technology. The company has also introduced digital
flood maps to enable a further 600,000 homes in the UK to qualify for
home insurance quotations.
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