WATFORD, HERTFORDSHIRE, UNITED KINGDOM, September 20, 2021 /EINPresswire.com/ — Smart Cover has announced the acquisition of ProductGuard.co.uk continuing the expansion of the C&C Insurance Group which also recently disclosed the acquisition of Risk Alliance Direct.
The C&C Insurance Group is forging ahead with its aggressive expansion plans spearheaded by CEO Niraz Buhari. Having recently added Risk Alliance Direct to the group, ProductGuard has now been acquired in a move funded by Yarab Capital.
Speaking of the acquisition, Mr Buhari stated “The addition of ProductGuard is further indication of the ambitions to grow the C&C Insurance Group through acquisition enabling us to offer more, better and enhanced customer-centric insurance products and related services across all sectors.”
Who Are ProductGuard?
Hill Finance has been established for over 17 years, founded by George Hill, and offers comprehensive insurance for domestic products and general insurance underwritten by Acasta Europe Limited. Having served over tens of thousands of policies, the acquisition by Smart-Cover is a prime example of organic growth with both companies offering similar products.
Some of the products include Appliance Insurance, Home Emergency Insurance, Gadget Insurance, and more.
The Future for ProductGuard and Smart-Cover
Although plans are still in the formulation stage, it is inevitable that there will be some rationalisation in the operations of both ProductGuard and Smart Cover but this is hoped to be achieved with minimal disruption.
The ProductGuard brand will remain the same under the new owners so there will be no need for complex rebranding, rewriting, and reissuing of existing policies and services. Existing customers will experience a seamless, invisible transition. All the existing policies and customers will be serviced by Smart Cover under the new arrangement with the current insurer.
Smart Cover will see expansion to its customer base while ProductGuard’s existing and potential customers will benefit from the expanded company. They will have a greater choice of products as well as the wider tangible and intangible benefits as the ProductGuard brand realises the benefits from being part of the C&C Insurance Group.
C&C Insurance have heavily invested in Insurtech, looking to revolutionise the sector with products, processes, and systems that greatly improve efficacy and efficiency. One such example is the newly launched Smart-Cover emergency cover app which gives customers instant access to buy policies and make claims on their insurance policies directly from their phone.
Founder of ProductGuard George Hill stated “This is an exciting move for us. Our customers will see better, more wide-ranging and more customer-centric policies, products, and services as Smart-Cover and C&C Insurance continue to forge ahead at the forefront of leveraging technical development in the insurance industry.”
Chris Beasley and Chetan Mankar led the M&A team at the C&C Group for the acquisition of ProductGuard, and the team has now successfully integrated them into Smart Cover.
Chris Beasley commented “We are delighted with the acquisition of ProductGuard. The synergy between ProductGuard and Smart Cover was obvious from the start. Our approach to customers and the service levels we both provide has made the transition seamless and effective. With the advances in our tech offering, we look forward to a long and successful relationship with the ProductGuard team and its customers.”.