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Junction Reaches Milestone With Millionth Policy

Immediate release: 06 August 2007

Junction, the UK's leading affinity insurance provider, now has one million live policies and is well on track to meet its target of three million policies under management by the end of 2009.

Junction signed its first partner contract in 2003 and wrote its millionth policy for yesinsurance.co.uk, part of the Provident Insurance group of companies recently acquired by GMAC Insurance.

The relationship with Junction provides yesinsurance.co.uk with access to a tailored panel of insurers to support Provident Insurance by underwriting customers which fall outside its risk footprint. This enables yesinsurance.co.uk to maximise customer numbers, improve conversion rates and reduce average acquisition costs. The result has been a highly successful partnership, with yesinsurance.co.uk growing its policies under management to over 100,000 since its launch in 2005.

Matthew Donaldson, Group Director, said: "The affinity market is estimated to account for over 25 per cent of the personal lines insurance market and offers huge potential for future growth. In a short space of time Junction has firmly established itself as an industry leader, working with many household names to offer tailored insurance services fast and effectively. The relationship with yesinsurance.co.uk is a prime example of the innovative service we can provide to our affinity partners."

yesinsurance.co.uk specialises in policies for drivers of cars over five years old, and also aims to offer cheaper insurance to low mileage drivers, second car owners and those seeking third party fire and theft policies.

It also offers competitive home insurance and van policies and in both cases searches a panel of leading insurance companies to find the best policy and cheapest price for customers.

James Reader, Commercial Director of yesinsurance.co.uk, said: "We are delighted with the strong strategic relationship that has been developed with Junction and proud to be associated with their millionth policy landmark achievement."

"Junction has been able to develop a product and system that supports the on-line focus for the yesinsurance.co.uk brand, allowing us to maintain a strong customer proposition, with competitive pricing across the board. The phenomenal success of the motor insurance partnership is something we are now extending to the home and van insurance market with some very encouraging results at this early stage."