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Accident Exchange reports dramatic credit hire revenue growth

Accident Exchange achieved a 50% growth in the provision of onward mobility to its manufacturer, dealer and bodyshop partners during the second half of 2011.

The accident management and customer support specialist has renewed a number of key customer contracts during the last year and its daily credit hire revenues in April 2012 were up 70% on the same month a year ago.

The company’s investigation into the actions of Autofocus has generated a lot of media coverage and resulted in a series of high profile court cases since December 2011.

Lord Justice Aikens said there was enough evidence to suggest “systemic slipshod” work or “systemic fraud” by Autofocus with regard to the credibility of rates evidence supplied by the firm.

As a result, 19 insurers including RBS, RSA, Allianz, NFU and AVIVA have reached settlements in excess of £10m with Accident Exchange. More settlements are expected in the coming months.

Accident Exchange chief executive, Steve Evans, commented: “Whilst the economic environment remains difficult for us all, our performance during the year reflects the extremely positive progress we have collectively made.”

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