The Financial Conduct Authority (FCA) is due to make a number of forthcoming changes in relation to the way in which GAP insurance is sold as an add-on product by motor dealers and finance houses in the UK. This is due to a number of concerns regarding the lack of transparency involved in add-on GAP sales, high price mark ups and a lack of understanding of GAP insurance by consumers.

As a consequence of the FCA’s findings, the sales methods adopted by dealers and the high prices they charge will be placed under further scrutiny. The likely changes to regulation will place dealers under an obligation to:

• Inform customers about alternative suppliers of GAP insurance – the FCA found that 58% of add-on buyers did not shop around for alternative policies before purchasing, with a large number of consumers unaware that they could purchase cover elsewhere.
• Ensure transparency regarding the add-on GAP cover and the price – according to the FCA 69% of add-on buyers could not accurately state the price they had paid.
• Make certain the customer is fully informed about the cover and that policies are not simply added on to sales without the knowledge of the customer – 19% of add-on buyers were not aware that they even owned the product when asked up to 4 months after purchase.

This will have an impact on the way consumers behave, encouraging them to shop around and increase their sensitivity to price, which is intended to further increase competition in the marketplace. Even now, before these changes are put in place, customers are increasingly looking to online providers for better information and a better value, higher quality alternative to the policies sold by dealers and finance companies.

Simon England, Managing Director of ALA, commented “The proposed changes in the report by the FCA are, we think, well overdue. I am confident that consumers will increasingly be able to make an informed choice and save themselves a significant amount of money too, without compromising on cover”

For further information please contact:

Katie Marlow

katie@ala.co.uk

01653 916301

www.ala.co.uk

ALA Insurance is pleased to introduce ALA Warranty - our recently added extended warranty product.

Ala Insurance has been trading as a GAP insurance specialist for over 8 years, with more than 20 years experience in the automotive industry. During this time we have always endeavored to provide our customers with high quality GAP policies at the best value prices.

We also continually strive to provide market leading additional insurance products. In September 2012 we introduced Alloy Wheel, Scratch and Dent and Tyre Insurance, adding Excess Protection in April 2013.

With this product we will continue to implement our strongly held company values, specifically providing the best value cover for our customers at competitive prices. As with ALA GAP Insurance, ALA Warranty provide a reliable alternative to enormously expensive policies offered by the dealer and some online providers but without the lower cost of that alternative equating to a substandard warranty product.

Currently, our affiliates enjoy an average conversion rate of 5.77% and an EPC of £1.27, across our GAP Insurance products. By adding Warranty cover to the services we offer, we expect that these figures will continue to increase.

We offer a 10% commission rate across the product range, and enjoy working closely with affiliates to improve conversions and entice visitors. We hope that our affiliates will add our new Warranty product to their advertising strategy – and welcome any affiliates who would like to know more!

ALA Insurance – the UK’s leading independent GAP Insurance provider – is delighted to announce the launch of their new affiliate programme on Affiliate Window!

Specialising in providing top quality GAP Insurance to cover vehicle owners in the event of a write off, ALA Insurance has put together a very competitive programme for affiliates who sign up: and you can do just that now!

All About ALA

Firstly, and most importantly, we only supply policies supplied by UK Registered A+ Insurance Underwriters; Lloyds of London and Ageas.

GAP insurance is intended to protect a customer from the financial shortfall associated with their vehicle being written off and receiving only the market value settlement of that vehicle at that time from their comprehensive insurer.

Unlike many other GAP Insurance providers, ALA not only has no Market Value or Glass’s Guide Maximum Value Clauses but we also offer our customers a free transfer, allow 120 days in which to make a claim (instead of the standard 30 days) and are underwritten in the UK.

As well as our established partnerships with Autotrader and Honest John, we have also recently been recommended in the Which? Report for GAP Insurance – meaning we are confident that the policies and service we offer are second to none.

ALA also possesses a low cancellation rate, with the percentage of cancelled polices consistently less than 0.05%.

In addition, we offer a Direct Debit facility to offer customers the convenience of spreading the cost on multiple purchases. All commission is paid upfront (subject to the customers’ 30 day cancellation period)

ALA is able to provide regular updates about our products and services and any copy you may require.

Why join our Affiliate Programme?

ALA has a proven track record in affiliate marketing, holding an exceptionally high average click through ratio of 6.05%, as well as an average conversion rate of nearly 8%. For the past three months, our EPHC has been £103.49 – and all of this is only expected to rise now that we have launched with Affiliate Window!

We offer a competitive 10% commission rate for every sale, and regularly run promo codes and vouchers to help you encourage your visitors to purchase.

We have a top range of quality products, along with some great creatives to inspire and attract your users. We’re open, and always willing to provide regular updates about our products and services and any copy you may require.

Top Launch Promo!

Not only will you receive our 10% commission rate for every sale, but were also offering an additional 5% discount voucher that you can share with your visitors! Just input the voucher code ‘ALA5’ in order to receive the discount.

Join up to the ALA Insurance programme to get started now!