CAR INSURANCE NEWS UPDATE SERIES

Update: We dropped Sheilas' Wheels from this site as other services were more popular here (See links to the right).

Note: As of 21 Dec 2012, gender cannot contribute to premium calculations.

A year after launch, Sheilas’ Wheels has already established itself as one of the leading products for women. The car insurer is currently taking on new customers at a rate of over 2,000 a week beating its own growth targets for this stage by 60%. It has achieved well over 100,000 policies in its first year and aims to more than double its market share in the next year.

Sheilas’ Wheels cover is not just for women and it is important to dispel the myth that men can’t be added onto a policy as a named driver. In a recent Sheilas’ Wheels survey, over half of all drivers (56%) didn’t know that a man can be added on to a car insurance policy from a female-targeted insurer.** Currently only a third (34%) of Sheilas’ Wheels policyholders have added someone (e.g. a spouse) to their policy, so there is potential for this sector of the market to expand further.

Sheilas’ Wheels is also one of the most recognised brands with brand recognition reaching 86% among women aged 20 - 44.

Peter Wood, Chairman of esure and Sheilas’ Wheels said: "We can now clearly see how ripe this market was for a shake-up. Sheilas’ Wheels is close to becoming a generic for women's car insurance just a year after its launch. Women have appreciated both our keen prices and our product features - such as built in handbag cover and using a network of female-friendly repairers.

"Our competitors can see we are on to a winning formula and although there have been some copycats, their reaction may be too little, too late. Sheilas’ Wheels is truly a brand to be reckoned with.

"We will continue to consolidate this growth by building our awareness even further. In a market that is highly competitive, Sheilas’ Wheels has given us excellent cut-through and strong awareness as well as injecting life and humour into a dull market."

Building the brand

• Sheilas’ Wheels has become one of the most ‘talked about’ insurance brands of the last five years thanks to its highly memorable advertising and its sponsorship of Living TV drama programmes CSI, Grey's Anatomy and Charmed, and ITV's Loose Women.
• This year Sheilas’ Wheels has led the way in terms of innovative driving inventions to aid women’s safety behind the wheel. The first was the ‘S-clip’- a simple seatbelt device to improve comfort across the chest and to encourage more women to buckle-up. We have also created the ‘Buddy on Demand’, a blow-up man that inflates at the flick of a switch if and when a woman driving alone after dark needs an instant passenger to help her feel less vulnerable.
• We have launched an official fan site for Sheilas’ Wheels: www.ilovesheilas.com. Sheilas’ Wheels has taken the online community by storm. On YouTube.com for example there is a growing list of Sheilas’ Wheels imitators.
• Sheilas’ Wheels sponsored the 2006 Funny Women Awards, to promote and advance women in comedy, whilst raising money for key women’s charities: Jo’s Trust, a cervical cancer charity and the YWCA.

Product facts

• Sheilas’ Wheels can offer attractive premiums to women as they are safer drivers than men. The industry statistics speak for themselves - men are responsible for 97% of all dangerous driving convictions.
• Sheilas’ Wheels offers a 24 hour confidential counselling line for drivers suffering trauma on the road.

Fun Sheila facts

• There are 782 Sheilas’ Wheels policyholders called Sheila.
• The oldest Sheilas’ Wheels policyholder is currently 80 years old.
• The average age of a Sheilas’ Wheels policyholder is 41.
• Only two Sheilas’ Wheels policyholders drive pink cars.