In a deal that has been the talk of the van insurance world, it has just been announced that 5 companies are to join forces.
Autonet, Towergate, Chase Templeton, Ryan Direct, and Price Forbes are the van insurance companies who have come together, in a move that many industry insiders are calling “monumental.”
It is thought that this super company will now focus all of their attention on offering van insurance for the “man on the street” or the “white van man” as some people might say.
There has also been talk that during top secret meetings and calls, the 5 companies referred to the deal as “Project Kairos,” which is a Greek work that simply means…the right moment.
Let’s hope that it is the right moment for these van insurance companies and their newly formed super company, although they are certainly entering a competitive market where things are not easy.
This is good for the consumer though, where they now have many different insurance companies all vying for their business.
If you are the “man on the street” or “white van man” and you want van insurance at a fair price, then what better place to start than right here? Sure, you could go directly to this newly formed company for a quote, or even to one of the other well known insurers, but it’s much better idea to start at a van insurance comparison website.
The reason? Because you get a much better sense of what is out there, as you are able to instantly compare quotes and deals from over 100 insurance companies.
Yes, you very well might get a better quote elsewhere by going directly to a company, but you don’t know until you compare online first. It gives you a better idea of the market and what is out there.
Back to the newly formed van insurance super company, and if reports are to be trusted then it’s understood that they will now attempt to raise £800 million worth of capital.
This will involve US private equity groups apparently, although it does make you wonder what they need all this cash for…maybe to make some TV adverts? Hopefully not.
The new company is temporarily named Kris, although if you ask me, they might want to get back to the drawing board on that one. I’m sure some of that £800 million can go towards hiring someone to come up with a decent name.
They currently have 5000 staff across the 5 companies who will now all come under the one company, and estimated revenue for this year will be around £500 million.
You might very well find the cheapest van insurance with Kris, but you should start here first where you can compare over 100 companies.
