Biography ~ Nigel Lacy, Young Marmalade, Provisional Marmalade.

Nigel Lacy is co founder of Young Marmalade, the combined car purchase and low cost insurance specialists. Young Marmalade has links with 13 car manufacturers and sells new or nearly new cars. It uses volume discounts from the manufacturers and suppliers to subsidise the cost of insurance, making the purchase of a newer car economically viable for young drivers and/or their parents. Often the monthly cost of the car and the insurance is lower than the monthly cost of traditional insurance on it’s own.

Young Marmalade effectively manages the insurance risk by providing small engine, modern cars with a high safety rating and insists upon additional training. After reviewing the claim profile during the last 5 years, over 95% were as a result of incidents late at night or early in the morning. The decision has now been taken to incorporate technology with the sale of the car to provide a massive financial incentive for young drivers to stay off the road at high risk times. This combination has reduced insurance premiums by over 60% against market rates.

Young Marmalade has also taken this a stage further and will subsidise fares for drivers to use taxis rather than use their car at high risk times – an unprecedented move from an insurance scheme.

It is anticipated that control of the major contributory risk factors to many collisions on UK roads, will now make the young drivers on this scheme one of the safest groups on the road.

Young Marmalade is a member of the Parliamentary Advisory Council for Transport Safety (PACTS) and recently received an International Road Safety Award from HRH Prince Michael of Kent, for work in improving safety for young drivers.

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