Peter James Insurance launch new Commission Calculator for vehicle clubs looking for income from an insurance partnership
Published: 23/06/2022
Peter James Insurance, the specialist classic and vintage vehicle insurance providers, is taking a further step forward in their support of clubs and other membership organisations within the historic vehicle sector, through the creation of the Peter James Club Commission Calculator.
The Peter James Commission Calculator is an online tool that will enable clubs to have the ability to calculate what commission they are likely to receive and tailor their partnership arrangement to a structure and set of offerings that best fits their membership, vehicle profiles and financial needs of the organisation.
Recent research from the Federation of British Historic Vehicle Clubs (FBHVC), who Peter James Insurance are supporters of, revealed that clubs are facing significant challenges when it comes to income derived from membership, with 40% stating that their income from subscriptions would be adversely affected in the coming years. Therefore, several clubs and organisations are looking towards other sources of revenue to compliment the traditional annual subscription model to resource and invest in their club’s operations.
Peter James Insurance has been at the heart of the historic vehicle community for many years. This close relationship gives the specialist insurance provider an acute understanding of the many challenges that membership-based organisations face in the current climate.
Earlier this year, Peter James announced at the FBHVC’s Club Expo event several exciting, new features for a new Club Proposition soon to be launched for their partners. This includes a Young Driver Scheme using club membership to enable young drivers to be insured on historic vehicles at a rate that is both affordable and rewards active participation within the historic vehicle community via their club.
Garry Carlin, Head of Classic at Peter James Insurance said; “For a long while, commission structures and partnerships between insurance providers and clubs have been something of a closely guarded secret, subject to many hours of negotiations and often complex to understand. We know that many clubs would like a more open and transparent process of initiating partnerships with insurance brokers that will allow them to easily tailor their arrangement and see the value it brings to their club members from the very beginning.”
The Peter James Club Commission Calculator also allows Clubs to compare future insurance related revenues with their existing arrangements to help them determine if a partnership with Peter James Insurance could unlock additional income to the Club.
Garry Carlin added, “We are all required to take out insurance for our cherished historic vehicles, so it’s only right that revenue from historic vehicle insurance contributes to the preserving the strength and health of the historic vehicle movement for everyone in the future. We believe that this is best done through clubs, who are the backbone of our community, and we are keen to do our bit to ensure their longevity.”
The Peter James Club Commission Calculator can be easily accessed by emailing some basic information on your club, membership numbers and the vehicles you cater for to: clubs@peterjamesinsurance.co.uk . Simply request a link and try it for yourself!
