Car Care Plan acquires Verex’s assets
Car Care Plan is delighted to announce the acquisition of Verex’s assets – bringing their talented team, customers, systems, and processes within the Car Care Plan Group. For Verex customers, there will be no disruption, as their policies and excess return vouchers continue to be valid and the contact details in their policy and accident aftercare documentation remain the same.
The acquisition has been described as “a great strategic fit” by Car Care Plan Chief Executive Ben Russell, who welcomed the Verex team, thanked those who have worked on the acquisition, and provided reassurance to Verex customers that their insurance policies, excess return vouchers and accident services “will continue to be covered as normal”.
Comment from Car Care Plan CEO Ben Russell
Mr Russell said: “Verex is the UK market leader of vehicle manufacturer branded car insurance products. In my view, there is no other company in the UK that can match their capability to offer the same quotability for vehicle manufacturer branded insurance products, along with the technical repair expertise and accident management processes, to ensure the use of genuine parts and approved technicians.
“Like many companies, Verex was hit hard by the reduction in new vehicle sales during the pandemic and subsequently faced financial difficulties, but its employees and systems have market leading capabilities.
“Verex’s talented team has transferred across to CCP, along with the systems, processes, and customers. It’s the people that make the difference and we’re so happy they’ve joined the CCP Group. Verex is a great strategic fit for CCP because, as a team, we’re all focussed on supporting the strategic objectives of vehicle brands, their customers and retail networks.
“The automotive industry is rapidly changing. Improvements to vehicle connectivity, active safety functionality, crash detection and driving automation will fundamentally affect how traditional insurance products operate. This provides a significant opportunity for vehicle brands to provide value added insurance services, which generate increased customer satisfaction and loyalty.”