RVU to acquire Tempcover in boost for motor insurance customers

RVU, owner of Uswitch, Confused.com and Money.co.uk, is bolstering its solutions for motor insurance customers with the acquisition of Tempcover.

Tempcover supplies short-term insurance policies through a panel of insurers and 85 corporate partners and brokers. Based in Hampshire, the insurance provider was established in 2006 and now has a team of 51 employees.

RVU focuses on switching services for consumer utilities and financial services products, through brands such as Uswitch, Confused.com, Money.co.uk and Mojo Mortgages. 

The addition of Tempcover to this portfolio will further enhance RVU’s ability “to improve experiences for customers”, according to chief executive officer Tariq Syed.

Syed said: “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, chief executive officer and founder of Tempcover, added: “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 acquisition is subject regulatory approvals and customary closing conditions.

Mark Dugdale