Swiftcover acquires claims firm

Axa Insurance subsidiary Swiftcover has acquired SIMS, a specialist personal motor claims provider, which manages all of Swiftcover’s claims activity.

The insurer said Swiftcover is SIMS’s major customer and over the past five years have worked closely on product development.

Axa said the acquisition is a logical step in the continued expansion of Swiftcover and the development of Axa's direct product offerings.

Axa added that the acquisition of SIMS will allow better integration of claims and policy platforms, improve customer communication and enable a consistent experience for both the AXA and Swiftcover direct products. Axa said it also provides a very progressive, low cost business model which Axa believes will facilitate the ongoing development of its claims function in future.

SIMS was formed in 2004 and employs around 320 people based at three sites in the UK in Tunbridge Wells and Tonbridge in Kent and Staverton in Gloucestershire.

Steve Hardy, managing director of Axa Direct and chief executive of Swiftcover said: "The way we manage a claim is a key part of the promise we make to our customers when they buy one of our policies. We have ambitious plans to grow our offering under both the Swiftcover and Axa brands. 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.”

Tony Peppard, managing director of SIMS said: “Everyone in our business should be proud of the contribution they have made to the success of both SIMS and Swiftcover over the past 5 years. This acquisition is an important milestone for both companies and marks the end of the beginning and the road ahead for expansion into new lines of business with great opportunities for all of us in our new unified organisation.”