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ibuyeco nets a second major award for 2008

Immediate release: 01 December 2008

Senior Marketing Manager Lucy Bailey collects the award. ibuyeco, the UK's first carbon neutral insurance provider, has been awarded a top award in the financial services industry - the Financial Services Forum Awards for Marketing Effectiveness - Most Effective New Product/Service or Innovation.

The prestigious award comes hot on the heels of ibuyeco winning the top insurance industry accolade, 'Personal Lines Initiative of the Year' at the annual UK Broker Awards 2008 in London last month.

ibuyeco fought off tough competition from 13 market leaders to secure the award which was collected by Senior Marketing Manager Lucy Bailey at the glittering black tie awards ceremony hosted at London's Guildhall (November 25).

Michael Grade, Executive Chairman of ITV Group was guest speaker at the event attended by some of the major players in the industry including Nationwide, Royal Mail, AXA, National Savings & Investments, Prudential and National Australia Group.

The awards are a key event in the financial services industry calendar, and are dedicated to recognising and rewarding proven success in the presentation and promotion of financial services and products. They were introduced in 2001 and remain the only awards committed to recognising and rewarding marketing effectiveness in financial services.

ibuyeco is just 18 months old but already an established brand. It was the product of an unusual and innovative journey. The concept for the carbon-neutral car insurance product was born in Autumn 2006. Backed by leading personal lines' insurance intermediary, the BGL Group, the idea for ibuyeco came from an internal 'Dragons' Den' exercise at the Group's senior management conference. It launched just a few months later in April 2007.

Director David Lundholm said: "We are absolutely delighted to have won this prestigious award as it was the most hotly contested of all the categories in the Marketing Effectiveness Awards. To win this second major award this year is testament to the strength of our customer proposition and the continuing hard work of the ibuyeco team. We are thrilled to have been recognised for our marketing effectiveness and will continue to innovate for our ibuyeco customers in the future. "

"As we all know only too well in the current economic climate, motoring is still very much an essential part of daily life and not an optional extra. We're pleased that our customers are still determined to take steps to reduce their impact on the environment and value the convenience that ibuyeco offers in delivering carbon-neutral car insurance".

In the first year of operation more than 50,000 customers have taken up ibuyeco's great value insurance and offset more than 100,000 tonnes of their CO2 emissions - equivalent to the carbon footprint of Scarborough.

The ibuyeco team were joined in their celebrations by representatives from Zurich Financial Services - which is the lead broker on the ibuyeco underwriting panel.