Automotive Care Plan’s acquisition of the belongings of insurance coverage dealer Verex from administration is being hailed as a “an amazing strategic match” by its chief govt Ben Russell.

Verex was an insurance coverage dealer that offered motor insurance coverage merchandise from a spread of insurers and entered into administration in August.

Directors at PBC Enterprise Restoration and Insolvency stated the sale safeguards 75 jobs and protects virtually 40,000 insurance coverage insurance policies which can be presently in drive.

Russell supplied reassurance to Verex clients that their insurance coverage insurance policies, extra return vouchers and accident providers will proceed to be lined.

“Verex is the UK market chief of car producer branded automobile insurance coverage merchandise,” he stated.

“In my opinion, there isn’t any different firm within the UK that may match their functionality to supply the identical quotability for car producer branded insurance coverage merchandise, together with the technical restore experience and accident administration processes, to make sure the usage of real elements and authorised technicians.

He stated Verex had been hit onerous by the discount in new car gross sales throughout the pandemic and subsequently confronted monetary difficulties, regardless of its workers and methods providing market main capabilities.  

“Verex’s proficient staff has transferred throughout to CCP, together with the methods, processes, and clients. It’s the those who make the distinction and we’re so completely happy they’ve joined the CCP Group.

“Verex is a superb strategic match for CCP as a result of, as a staff, we’re all focussed on supporting the strategic targets of car manufacturers, their clients and retail networks.

“The automotive business is quickly altering. Enhancements to car connectivity, lively security performance, crash detection and driving automation will basically have an effect on how conventional insurance coverage merchandise function.

“This supplies a major alternative for car manufacturers to supply worth added insurance coverage providers, which generate elevated buyer satisfaction and loyalty.”