Business & Domestic Insurance offers added value insurance products in the UK
CPP Group UK has acquired Business & Domestic Insurance Services (B&D), an insurance broker, from Motorway Direct for an undisclosed price.
Motorway Direct is a supplier of insurance products to the automotive sector in the UK.
The acquisition of Business & Domestic Insurance will give CPP Group UK more than 160,000 customer policies, written across a portfolio of products. Included in these are excess protection, legal expenses, total loss protection, and brown and white goods warranty.
CPP Group UK is part of CPP Group, which creates technology–led products and services for the financial services and insurance markets.
Products offered by Business & Domestic Insurance
Business & Domestic Insurance provides added value insurance products in the UK. Its products are exclusively sold via the insurance broker channel, and designed to improve commercial, domestic and small business insurance ranges.
CPP Group CEO Jason Walsh said: “This is a significant move for CPP which adds value to the company, while broadening the services we can offer to UK and global partners. It also marks a move into the insurance broker market for the first time in the Group’s history.
“It’s part of the wider strategy to continue to invest in key strategic markets and technology-led capabilities that help to deepen client relationships.”
CPP Group to enhance its portfolio with the addition of Business & Domestic Insurance
The acquisition is expected to enhance CPP Group’s existing range of assistance and insurance propositions significantly, through the addition of current Key Insurance and consumer assistance products.
CPP Group said that its products will be further improved shortly through the launch a new variety of cyber risk mitigation and insurance products targeting the insurance broker market. The company plans to launch the elements of the new range across its global network.
CPP Group UK managing director Michael Whitfield said: “The acquisition of B&D signals our entrance into the UK broker market in a very substantial way. We will rapidly expand our presence in the coming months, with more products and services in the pipeline.
“B&D is a market leader in the ancillary product field, with an array of long-standing business partner relationships and a great range of innovative products. We are very much looking forward to building the business further by combining CPP UK’s technology capabilities with the existing expertise within B&D.”