RVU, owners of Uswitch, Confused.com and Money.co.uk, is bolstering its solutions for motor insurance customers by agreeing to acquire Tempcover.
Tempcover leads the way for temporary insurance solutions with a strong reputation for exceptional user experience. It 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.
Based in Hampshire, Tempcover was established in 2006, and now has a team of 51 employees.
RVU operates a number of digital brands that 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.
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.”
Alan Inskip, CEO and Founder of Tempcover, said: “Tempcover continues to exceed growth expectations, and this transaction is good news for everyone. Being backed by RVU presents us with the exciting opportunity to capitalise on the broader motor insurance market. It also creates the opportunity for even further growth and development not only for Tempcover as a brand, but for our panel of insurers, our commercial partners and, most importantly, our employees.”
The transaction is subject to regulatory approvals and customary closing conditions.