RVU, owners of Uswitch, Confused.com and Money.co.uk, has agreed to acquire short term insurance broker Tempcover.
Established in 2006, Tempcover connects customers to short term insurance policies, working with a panel of insurers and 85 corporate partners and brokers to bring flexible and affordable solutions to motorists – whether hourly cover or month-long policies.
RVU operates a number of digital brands that aim to empower people to make confident decisions. In the UK these include Uswitch, Confused.com, Money.co.uk and Mojo Mortgages, all of which offer consumers the ability to compare and switch across a range of utilities and financial services products. The company said the acquisition will bolsters its solutions for customers of motor insurance.
Tariq Syed, CEO of RVU, said, “We’re always striving to improve experiences for customers, and believe that Tempcover will help us enhance these further. As a leader in its category, Tempcover brings with it significant expertise in the InsurTech market.
“Having already worked with the team to provide short term insurance products, we know we share the same approach in putting the customer first and investing in a great place to work for our employees.”
The transaction is subject to regulatory approvals and customary closing conditions.
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