The Accident Exchange group of companies is to undergo a rebrand to AX following significant growth and a return to profitability in 2018.
The group includes Accident Exchange (credit hire and credit repair), DCML (utilisation, compliance, protection and insurance of rental and demonstrator fleets), In-Car Cleverness (telematics and connected vehicle technologies) and APU (covert protection and motor fraud investigators).
It will now adopt the brand name AX, with two operating divisions created: AX Automotive and AX Innovation.
AX Automotive will focus on the growth of its credit hire business, while AX Innovation will concentrate on a growing suite of vehicle technology to create a business that provides innovative services to the automotive industry.
Lucy Woods, chief executive of AX, said: “Last year was a significant year of change.
“We achieved strong growth within our core automotive landscape, firmly established ourselves within the insurance sector and as a result returned to profitability.
“We now have a sound footing for the future and the rebrand forms part of that strategy.
“By streamlining the brands as one we can deliver even greater agility, efficiency and revenue to all our partners and customers regardless of their individual business needs.”
Accident Exchange was founded in 2002 to offer credit hire and accident management services to the franchised dealer market.
It now has partnerships with more than half of the UK’s top 50 dealer groups and has established relationships with several leading insurers.