The price comparison website’s founder and managing director will be stepping down as a result
Travel insurance firm Staysure Group yesterday (21 September 2022) announced that it had acquired the remaining shares of travel insurance price comparison website Payingtoomuch, effective from 15 September 2022.
The acquisition will enable Staysure Group to further extend its footprint in the market and it hopes to establish Payingtoomuch as the leading travel insurance price comparison website in the UK.
This move will see the price comparison website’s founder and managing director Mike Ward step down.
Ryan Howsam, Staysure Group’s founder and chief executive, said: “I’d like to thank Ward for having the trust in us to take a business he started eleven years ago to a new level of growth.
“We are excited by the challenges the price comparison market presents and we believe it offers a fantastic opportunity for Payingtoomuch to disrupt the market and give customers an even better deal.”
Establishing a competitor
Staysure Group will now look to invest further in the business and accelerate its growth in the travel insurance price comparison market by extending the range of high street insurer brands available on the site and bringing more of its digital marketing expertise to bear.
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Ward initially started at Payingtoomuch in 2011 and has since grown the business to serve more than 50k customers a year.
The outgoing managing director said: “I am proud of what we’ve achieved at Payingtoomuch in the last eleven years, establishing a competitor in the travel insurance price comparison market, built on exceptional customer experience.
“I believe now is the right time for Staysure Group to take the business through its next phase of growth in the coming years and I look forward to watching the business go from strength to strength.”
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