Reported by Andrew Newman, Insurance People Magazine March 2010, MCE Insurance talk to Insurance people about four-year title sponsorship of British Superbike Championship (MCE BSB)
In a previous life I was involved in a motor sport sponsorship, and I’m glad to hear that sponsor' hands-on participation in these events has moved on from helping erect awnings and other hospitality in muddy fields. Fortunately, these things are handled a lot more professionally today.
Michael tells me that MCE's dedicated events team attend every round of the MCE BSB staging original, exciting and humorous entertainment for over 400,000 spectators every year. "With 8 million TV viewers annually, the team are also critical in maximising our TV courage at these events."
The Edwards resisted the trend for family businesses to sell up in the consolidation boom year - MCE has been going for 30 years now. When I first visited them on business, they operated under the name of MC Edwards and were based in Northampton. The change to MCE Insurance mirrors the changing world of specialisation and their move to become motorcycle market leaders.
The year 2009 saw a 21% increase in these policies, which now account for 85% of the total business. Conversion rates are 33% and renewal retention over 65% "Our aim is to become the number one provider of motorcycle insurance by attracting new talent to our existing expert team, housed in one of the UK's most tech insurance centres."
Michael Edwards confirms working closely with selected insurance partners who share the same vision of distribution, and underwriting profitability is key to their development.
Just recently MCE started using Open GI's Active Quote solution to obtain more target specific online business via aggregators. Julian Edwards: "That allow us to offer the best, real-time deal for customers in what is a fast changing and highly competitive aggregator-driven marketplace. We can test rates in a controlled live environment, which suits the specialist nature of our core motorcycle trade and specialist car schemes."
So it's not just comparison sites and direct writers creating fictional celebrities to help get their advertising messages across. Whether BIG ED likes to be associated in this way with bulldogs and meerkats is not known.
MCE Insurance is a trading style of MCE Insurance Ltd. Authorised and regulated by the Financial Conduct Authority (FCA), under firm reference number 307832. You can check this on the Financial Conduct Authority Register by visiting their website on www.fca.org.uk/firms/systems-reporting/register.
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