Swiftcover acquires claims handler SIMS

by Gill Montia

Story link: Swiftcover acquires claims handler SIMS

Swiftcover has acquired SIMS, a specialist personal motor claims provider that already manages all Swiftcover’s claims activity.

SIMS was formed in 2004 and employs around 320 people based at sites in Kent and Gloucestershire.

Both companies have been working together closely on product development over the past five years.

According to motor insurer, claims management is a core activity for any insurance business and a key source of competitive advantage.

The acquisition is therefore a “logical step” in the continued expansion of Swiftcover and the development of parent company AXA’s direct product range.

It should also reduce costs by boosting procurement power.

AXA Direct’s managing director, Steve Hardy, comments: “By having our claims handling function in house, we can plan and manage our growth much more effectively and further improve on the service we give to our customers while continuing to handle claims in the most cost-effective way possible.”

Swiftcover has recently been in the news for its advertisements featuring ageing rock star, Iggy Pop.

The Advertising Standards Authority found the campaign to be misleading after complains that the firm did not insure musicians.

However, sales had soared by almost a third since the launch of the adverts and Swiftcover promptly amended its terms rather than lose Iggy’s charismatic performance.