Accident Exchange and its subsidiaries have marked a return to profitability by rebranding.
The credit hire group and its subsidiaries, dealer software firm DCML, telematics business In-Car Cleverness and fraud investigators APU, have all rebranded as AX.
It comes after Accident Exchange Limited achieved £2.4 million pre-tax profit in the year to February 2018, a significant turnaround from the £2.8m loss in the previous 12 months, after the business was sold by its owners, including founder Steve Evans who left the business in 2017
“Last year was a significant year of change. We achieved strong growth within our core automotive landscape, firmly established ourselves within the insurance sector and as a result returned to profitability,” said Lucy Woods, chief executive of AX.
“We now have a sound footing for the future and the rebrand forms part of that strategy.”
The group will now adopt the brand name AX with two operating divisions, AX Automotive focused on the growth of its credit hire business and AX Innovation focused on growing its suite of vehicle technology products.
Woods added: “The two core pillars of exceptional customer care and innovative technologies will, naturally, remain front and centre of everything we do. However, by streamlining the brands as one we can deliver even greater agility, efficiency and revenue to all our partners and customers regardless of their individual business needs.
AX has partnerships with more than half of the UK’s top 50 franchised dealer groups.