Mr. Colm Carey:

It would be closed. A rating structure for an insurer is not the same for, say, the AA. We add extra data to the equation. For example, we would tell our members how often they break down and what car they have. We add extra information which allows an insurer to give a more accurate price. Accordingly, there will be different prices for someone who goes to the AA and to the direct players. In many cases, the AA will be cheaper than the direct player. It is not a profit margin equation. Where we add our value is that we have much more data.