Southampton-based Business Choice Direct Insurance Services (BCD) announced yesterday that it has acquired Footprint Insurance Services – a move the company says will help develop cross-sell by expanding its portfolio.
BCD, which specialises in commercial motor and non-motor products and employs 80 staff, bought Footprint and its book of 10,000 van policies from Eldon Insurance Services.
The acquisition brings BCD, which was set up just over three years ago, to £20 million gross written premium, and a total of 26,000 policies.
Darren Box, the firm’s managing director, told Insurance Business that BCD was established with “a clear focus on creating a solid foundation for long term growth.”
“The Footprint acquisition has allowed us the opportunity to develop our cross-sell by expanding our portfolio of non-motor products,” Box said in an interview. “Through research, and first-hand awareness of our customer needs, we know that saving time is a key driver in insurance purchase and we aim to provide a one-stop-shop.”
The firm’s vision is to have a minimum of three products per customer to maximise retention while reducing overall cost per acquisition, and said its existing non-motor product range will bring extra benefits to its new van customers.
Going forward, BCD, which moved to new premises in December, is focusing on better engagement with customers, Box said.
“We are introducing live chat, for example, and are increasing our social media presence and penetration,” he noted.
“Our aim is to provide exactly what our customers want, delivered on a communication platform which meets their varying needs, and obviously this means we are looking for like-minded insurer partners with UK capacity who will join us in our journey.”
The company has invested in staff and strong trading foundations, as well as forming “carefully-honed policies” and close relationships with insurer partners, Box said.
“We’re proud to be a UK-based business working with UK partners and we are convinced that there is plenty of room in the market for our ‘people’ orientated insurance model,” he said.
Terms of the acquisition were not disclosed.
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