Atlanta Group acquires telematics broker Marmalade
UK-based personal lines insurance broker Atlanta Group has acquired Marmalade , a provider of car insurance for young drivers with an app that allows users to get a car insurance quote by uploading a picture of the license plate number. Financial details were not disclosed.
Founded in 2006, Marmalade specializes in policies for drivers aged under 34. Marmalade writes around 12,500 short term and annual policies a month. It launched the first annual and pay-as-you-go insurance policies which allow young drivers to share a parent’s or grandparent’s car – as an alternative to being added as a named driver. It is also BIBA’s official scheme provider for young drivers.
Marmalade will join Atlanta’s Swinton, Autonet and Carole Nash motor brands, broadening Atlanta’s reach to young drivers and bringing telematics expertise into the Group.
“Over the last 15 years I have watched with ever increasing pride the company that my wife Helen, my son Crispin and I founded grow from just us and a few staff based in farm buildings near Peterborough to become what it is today. I now feel that it is time for me to retire and I am very happy to hand over the ownership to the Atlanta group who I know will take it on to the next level.” – Nick Moger, majority shareholder and outgoing Chairman at Marmalade.
“Here at Marmalade we’re delighted to become part of the Atlanta Group, and excited for the future. There’s a rising demand for telematics and flexible policies, and we plan to be there to meet it. With Atlanta’s systems, resources and expertise we can move further and faster – and offer more young drivers simple and affordable ways to get behind the wheel.” – Crispin Moger, CEO of Marmalade.
“Our strength as a broker is in being able to offer customers different options and different wordings to suit their circumstances. There’s no doubt that the under 34s have taken a hard financial hit over the last year. With Marmalade we’ll be able to help reward careful driving, keep them moving, and get them on the road to the rest of their lives. Crispin and his team in Peterborough are a perfect fit for Atlanta. We share the same family firm values and passion for both our people and our customers. The acquisition of Marmalade shows our ongoing commitment to offering those customers good value and good service, and strengthens our position as the UK’s leading digital broker.” – Atlanta CEO Ian Donaldson.
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Underwritten by Ageas, the policy allows young drivers to pay for an initial package of 500 miles from £195, arranging an automatic top-up of 100 to 500 miles when they have 50 miles remaining, with the top-up costing less the safer the policyholder drives. Drivers can keep a track of what has been used on their app and earn a No Claims Discount for every year they remain claim free.