ChipsAway launches insurance product

Automotive paintwork repairs franchise ChipsAway is to partner with SMART Insurance Services to introduce a groundbreaking SMART insurance scheme to the UK: That's SMART!

SMART (Small to Medium Area Repair Technology) insurance was initially developed in South Africa by the ChipsAway Master Franchise management team, with the backing of Hollard, South Africa's largest independent and privately owned insurance group, to provide insurance cover for minor accidental damage to automotive paintwork such as scratches, scuffs, chips and dents. With 10 years' dedicated expertise and specialist knowledge in South Africa, SMART Insurance Services has sold over 1.6 million policies and now attracts over 200,000 SMART insurance policy holders per annum. Redsands Insurance Company (Europe) Limited, a Gibraltar regulated insurance company. underwrites the product in the UK.

ChipsAway Chief Executive Lloyd Evans explains: 'SMART insurance has proved tremendously popular in South Africa and the excellent uptake there has encouraged Hollard to introduce the concept to the UK, through SMART Insurance Services. As the nominated specialist repairer, ChipsAway will be offering a tailored insurance product which franchisees can introduce to their customers, thus consolidating customer loyalty. ChipsAway franchisees will directly benefit from repair work undertaken as a result of any claims.'

ChipsAway will be piloting the scheme with its Franchisee Liaison Group with a view to subsequently rolling it out across the entire ChipsAway UK network during 2009. 'ChipsAway developed the first ever SMART repair system in the USA and were first to introduce the technology to the UK 15 years ago,' reflects Lloyd. 'We are delighted, and proud to be part of yet another first in the UK automotive services marketplace!'