First group-buy car insurance deal launches in France

A Leading French consumer association has teamed up with the broker Selectra to trial a group-buy car insurance offer, and hopes to recruit 10,000 drivers so it can negotiate better rates with insurers.

Using the same principles it established to successfully secure lower electricity and gas bills for customers, Selectra, is confident it will hit its target.

“It is impossible to say precisely what savings will be made yet as this has never been done before in France,” said co-founder Aurian de Maupeou.

“But I will be very surprised if they are less than 10%.”

He said it did not matter that clients had different profiles, depending on age and previous claims.

“What insurance companies look for is numbers, and so they should be able to take everyone, as long as they need to be legally insured.”

Consumer association Familles de France approached Selectra with the idea.

The company has already run successful group buys for health and home insurance.

Anyone interested can sign up at selectra.info, by clicking on ‘assurances’.

“We got off to a strong start, then sign-ups slowed,” said Mr de Maupeou.

“We expect to have the target number to start negotiating by mid-March or early April.

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