Bodyshop group Nationwide Accident Repair Services has signed a £24m contract with a major insurance group to become its preferred supplier for vehicle repair and claims management.
The publicly-listed company announced the win to investors this morning following a rigorous tender process.
Under the terms of the three-year agreement, Nationwide will manage the deployment of all vehicle repairs via its Network Services Division. The unnamed insurer will also use Nationwide's mobile repair services,Mobile Restore, which complete SMART repairs.
The contract will help to underpin the company's trading performance in the current financial year, with the full benefits being felt in its 2011 financial year.
Michael Wilmshurst, chief executive of Nationwide, said: "This is a significant win for us and I am delighted that we have been selected as the preferred vehicle repair partner in the UK for this major insurance group.
"We focus on providing quality, value, speed and service to our customers and look forward to delivering all these benefits under this new agreement.
"It is also encouraging to see early uptake of our enhanced mobile repair services, which enable us to complete light repair work quickly and efficiently at car owners' preferred location, whether at home or at work.
"By offering mobile services alongside our on-site capability, we are able to reduce our cycle times and facilitate quicker resolution of claims on behalf of our insurance customers."