Chief executive says investment will be a ’game changer’
Motor insurance claims business Inspire Claims has secured a “significant” investment from Compare The Market owner BHL UK Holdings.
A statement released yesterday (25 April 2023) said the move will see Inspire Claims rebrand to Cogent Claims, with BHL taking a majority shareholding in the business as it targets growth.
BHL’s business and investment portfolio includes motor legal services firm Minster Law, LEI provider Coral Insurance, telematics business ThingCo and Compare The Market.
Ian Leech, chief financial officer of BHL, said: “This is a significant new investment by BHL UK, following on from our investment in ThingCo, announced in January 2021, and the recent launch of Coral Insurance into the legal expenses market.
“Cogent Claims is a dynamic, highly entrepreneurial business that is unafraid of change and keen to explore new ways to create profitable growth in a rapidly changing motor sector.”
’Game changer’
Cogent Claims offers a liability agnostic motor claims servicing proposition to the MGA, insurer and broker market.
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It was founded be chief executive Matt Rawling in 2017 and employs around 30 people.
Rawling said the BHL investment would be a “game changer” and create “wider opportunities through synergies with other parts of the BHL UK investment portfolio”.
“Our decision to rebrand to Cogent Claims marks the evolution that the business has made since its inception and our renewed appetite for forging new partnerships to support our growth agenda,” he said.
“With the investment from BHL UK, we are now set to significantly ramp up our business development strategy to take our compelling suite of services to the insurer, broker and MGA markets.”
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