Holding their head offices in Reigate, Surrey, Esure became renowned as one of the fastest-growing insurance providers ever following their launch in 2000 – boasting over 1 million policies by 2005.
According to their last accounts, the company earns an estimated £574 million in revenues annually, and now wholly owns itself following a buyout of Lloyds in 2010.
Esure were among the first insurers to properly utilise a business model pioneered by competitors Direct Line, dealing with the majority of their customers exclusively through their call centres and their own website in order to keep costs low – savings that are then passed on to the consumer. From these relatively humble roots, Esure is now able to offer a full range of insurance products: cars, motorcycles, vans, homes, pets and travel are now all covered by the company.
The main way in which Esure differ from their rivals is by focussing their lower prices on customers who pose a lower risk for the company (such as drivers who have long no-claims histories). A similar strategy has also been used by sister company Sheila’s Wheels, who exclusively focus their marketing at female drivers (who statistically make fewer claims on their insurance policies).
Much of Esure’s early expansion was credited to television marketing starring food critic Michael Winner – though this was later replaced with a cartoon mascot named Mr. Mouse that had considerably less impact and has since been dropped.