Supercover, the specialist insurance broker and claims administrator, has joined the burgeoning retail arm of the Markerstudy portfolio of businesses in a deal worth over £20 million.
The FCA regulated business was established in 1995 to provide extended warranty and insurance to the customers of mobile phone retailers. Over the last 20 years, Supercover’s business model has expanded to encompass a wider range of specialist insurance products, covering most portable electronic devices and gadgets.
Supercover now services more than 1.5 million policyholders via 200 channel partners, across a diversity of industries.
Russell Bence, head of Markerstudy retail, said: "Our retail division is growing exponentially and we are constantly looking for ways to strengthen our offering. We were particularly attracted to the growth opportunities and scalable business platform offered by Supercover, a market-leader in its field. With our support, the Supercover story of success will continue. To incorporate this superior product into our existing array of customer benefits presents a hugely exciting proposition.”
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Supercover, Markerstudy, Europe