Female car insurance company celebrates first year growth
Published On 2 October 2006
Sheilas' Wheels, a car insurance firm aimed at women, is celebrating a successful first year.The outfit is currently seeing 2,000 new customers a week, some 60 per cent more than its forecasted figures.
It has sold some 100,000 policies overall during this first year and hopes to double its market share over the next 12 months.
Following an extensive media advertising campaign, brand recognition is at a sizeable 86 per cent of the female population between the ages of 20 to 44.
Peter Wood, chairman of Sheilas' Wheels, commented: "We can now clearly see how ripe this market was for a shake-up. Sheilas' Wheels is close to becoming a generic for women's car insurance just a year after its launch.
"Women have appreciated both our keen prices and our product features - such as built in handbag cover and using a network of female-friendly repairers."
In a recent survey, some 56 per cent of drivers were not aware that a man could be added to a female orientated policy as a named driver, indicating an avenue the firm may wish to pursue over the coming months.
