A staggering 21% of car buyers in the UK are victims of GAP (Guaranteed Asset Protection) insurance scams, according to a recent study. To combat this issue, Roadzen’s UK subsidiary, Global Insurance Management Limited (GIM), has partnered with one of the country’s largest independent retailers of nearly new cars and vans to offer GAP insurance to over 60,000 annual customers.
The partnership aims to provide a more transparent and customer-centric approach to GAP insurance, which is often sold as an add-on to car financing agreements. Unfortunately, many consumers are unaware that they already have sufficient coverage through their existing policies or that the insurance provider may not pay out in the event of a claim.
GIM’s innovative approach will offer customers a comprehensive GAP insurance product with clear terms and conditions, ensuring that buyers are fully informed about their coverage before making a purchase. With over 60,000 potential customers, this partnership has the potential to significantly reduce the number of people falling victim to GAP insurance scams in the UK.
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