Just Travel Cover acquires Alpha Underwriting
UK-based Just Travel Cover has announced its acquisition of ‘travel insurance and scheme specialist’ Alpha Underwriting from CPP Secure for an unspecified sum
According to Daley Gore, Director at Just Travel Cover, the take-over enables the company to grow its wholesale division ‘as part of our wider company growth strategy’, providing access to Alpha’s network of brokers and allowing the company to promote its products through them.
“We’re looking forward to welcoming these new brokers on board and providing access to our suite of Travel Insurance products – just in time for the post-Covid travel boom. The acquisition presents a great opportunity to help these brokers grow too, with full training and support on our portal which provides them with a range of products,” added Gore.
The take-over also provides Alpha’s general insurance brokers with access to Just Travel Cover’s range of insurance products, which includes a range of specialist travel insurance options including options tailored for cruises, school trips the elderly and those with pre-existing medical conditions; as well as luggage and vehicle insurance.
The take-over comes only half a year after the CPP Group themselves acquired Alpha Underwriting from previous owner, the Tedaisy Insurance Group. At the time, the purchase was described by Carl Carter, CPP Secure CEO and CCO for Blink Parametric as an ‘exciting acquisition for the group’.
‘A smooth transition’ over the summer
Just Travel cover says that it plans to update contracts with all Alpha brokers by 15 August, and to provide access to, and begin training on its systems this summer.
Just Travel Cover also says that the acquisition will ‘provide its new broker partners with a 360-degree digital ecosystem that includes back-office access, a branded B2C web engine, General Data Protection Regulation (GDPR) compliant customer accounts and document centre and instant access to the world’s first parametric insurance policy, Smart Luggage’.
Smart Luggage was developed through a strategic partnership with CPP Secure – with Just Travel Cover crediting this previous collaboration as the foundation of their subsequent takeover.
Carl Carter commented: “We are delighted to take our strategic partnership with Just Travel Cover to the next level, following the success of the development and launch of our award-winning parametric lost luggage travel insurance and real-time assistance product. Over the coming weeks we will be supporting a smooth transition to Just Travel Cover and continuing to move our own focus at CPP Secure towards our range of parametric travel insurance solutions to meet global demand in support of our sister company Blink Parametric.”