Norwich Union has bought the on-line and telephone-based motor sales business operated by Oneswoop.com Limited.
Norwich Union has bought the on-line and telephone-based motor sales business operated by Oneswoop.com Limited.
The UK’s largest insurer will now be able to develop its capability to sell cars via Oneswoop.com and norwichunioncars.com brands, as well as provide motor insurance, breakdown cover, finance and rehabilitation cover.
The deal is the latest move in Norwich Union’s strategy to become a one-stop shop for the motorist.
Jill Willis, marketing manager for Norwich Union Cars, said: "We carried out research with our customers and found they would welcome the chance to buy a car, from a company they trust. So, we have gone on to look at the best way to bring our car buying service to customers.
"We’re developing a more holistic approach to the customer and improving the range of products and services on offer.
"As a company the diversification makes perfect sense - we estimate the total spend on motoring in the UK is Ł63bn a year and insurance costs make up just 12 per cent of that total."
This is not Norwich Union’s first foray into the motor sales market, having previously piloted a scheme that enabled customers to buy or lease cars.
Willis said: "By purchasing Oneswoop’s business, we are moving closer to both the customer and the car dealer, and with this acquisition we are demonstrating that we are serious about becoming a significant player in the car sales market."
Oneswoop, which sources from UK-based suppliers, is based in Hammersmith, London, and its 20-strong workforce will become part of Norwich Union as a result of this acquisition.
-ends-
Media contacts:
Liz Kennett on 01603 688263/out of hours 07801 901666 or David Ross 01603 682730/out of hours 07786 526350 at Norwich Union’s press office.
Notes to editors:
- Norwich Union is the UK's largest insurer with a market share of around 14 per cent . With a focus on insurance for individuals and small businesses, Norwich Union insures :
-
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses
- Norwich Union’s news releases and a selection of images are available on the Aviva internet press centre at www.aviva.com/media
- An ISDN facility is available for studio quality broadcast - call the press office on 01603 683820