Crispin Moger: How I shook up the insurance world

Once cover had been bought, many young drivers couldn't afford anything except an old banger. That was until Crispin Moger of Young Marmalade stepped in.

In 2006, Crispin Moger, his father Nigel and business partner Nigel Lacy realised "the British car market was stalling. Young people in particular were less willing to buy new cars." Moger realised the reason was rising insurance costs once a younger driver had paid for cover they could typically only afford an old banger. He sensed an opportunity.

He spoke to some underwriters about how to bring down insurance costs. "The main thing they are worried about is personal injury involving young drivers. If someone is seriously injured it is very expensive for the insurer as they pay for legal costs, care and compensation."

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.