The company’s rapid expansion in this sector has seen it secure an estimated 4% share of the market.
According to reports, van life has gained tremendous popularity recently, with many people seeking adventure and a simpler way of life. The COVID-19 pandemic has also played a role in the rise of van life, as more people seek ways to travel safely and avoid crowded spaces.
Statista notes that the estimated number of Vanlifers in the United States was over 3 million in mid-2022. This number is expected to grow as more people discover the freedom and adventure that vanlife offers.
Insurance for motorhomes is now widely available via multiple channels
Marking its entrance into motorhome insurance in March 2022, Atec Group strategically leveraged its diverse array of retail distribution channels, including the well-known platform InsureMy.co.uk. The company has seamlessly integrated several insurers onto its motorhome insurance panel to provide comprehensive coverage options to its customers.
The surge in demand for motorhome insurance is further substantiated by statistics. According to data from Statista*, the year 2022 saw a total of 11,600 new motorhome registrations in the UK. Additionally, the National Caravan Council (NCC) approximates that the current number of motorhomes in active use across the UK stands at a substantial 225,000.
James O’Hara, Commercial Director at Atec Group and InsureMy, expressed his satisfaction with the company’s swift success in the motorhome insurance realm. O’Hara stated, “Our launch into motorhome has been very successful. We have extensive retail distribution capabilities across leisure insurance, including caravan, boat, and campervan, and we have some exciting plans to expand our range later in the year.”
At the core of Atec Group’s operations lies a data-driven approach, encompassing a spectrum of insurance brands such as Ceta Insurance and Arkel Underwriting, along with multiple retail brands, including the prominent InsureMy.
As the van life trend continues to captivate enthusiasts seeking freedom and flexibility in their travel experiences, Atec Group’s milestone serves as a testament to the surging interest in motorhome insurance coverage, highlighting the company’s adept response to this evolving consumer landscape.
