INGENIE, a Young Driver Insurance Brand Offers Car Insurance Solutions for Teens

By Mandira Srivastava
TMCnet Contributor

Realizing the business potential of the insurance industry, English footballer turned broadcaster Gary Lineker has stepped into the car insurance business. Gary Lineker has started ingenie, a new car insurance brand that aims to offer a better and fairer deal to young drivers in the UK. The popular faces like Steve Broughton, formerly a managing director of the RSA (News - Alert) Insurance Group and his brother Sir Martin Broughton, Chairman of British Airways are the part of ingenie.

According to a press release, ingenie is looking for young drivers in the 17-25 age bracket who have been priced off the road by rocketing car insurance costs, which have seen those aged 17-22 now paying a typical annual premium of £2,431, up 64 percent on 2010.

Gary Lineker was initially approached to act as brand ambassador for ingenie but was so impressed by the concept that he decided to invest in the company. Steve Broughton, a highly respected insurance industry veteran of more than 30 years, is a co-founder and the chairman of ingenie. ingenie’s executive team will be led by co-founders Chris McKee and Richard King.

Richard King said, “It’s about time young drivers had a chance at getting reasonably priced insurance instead of being excluded from the road by often inaccurate and unfair assumptions about their driving style. By rewarding young people for better driving, we can generate a community of safer drivers for the future and build a truly scalable business at the same time.”

Gary Lineker, said, “As a father of four, the costs of car insurance are simply eye-watering and a major obstacle to any young person who has passed their test and is ready to drive. What ingenie is offering is a real alternative to sky-high premiums, based on the straightforward concept that the better you drive, the less you end up paying.”