At Acorn Group, we’re proud to share that we’ve taken an exciting step forward in telematics insurance by acquiring MyPolicy, a leading telematics insurance broker specialising in young drivers and low-mileage drivers.
Based in Merseyside, we’re one of the UK’s leading providers of non-standard car, van, taxi, and household insurance, serving 500,000 policyholders. With a workforce of over 1,400 across Formby, Liverpool, and London, we operate through brands like Acorn Insurance, Carrot, Motorcade, Flag, Rapid, Briefly, and Granite Underwriting, which partners with 200 brokers nationwide.
MyPolicy, based in Halesowen, West Midlands, brings over 15 years of expertise in telematics insurance, a talented team of more than 50 employees, and 7,000 live policyholders. They’ve built cutting-edge technology and intellectual property, cementing their position as a leader in this rapidly growing market.
MyPolicy will remain under its own brand, retaining its management team and workforce. By joining forces, we’ll combine our strengths and offer access to Acorn Group’s dedicated underwriter, Haven Insurance, alongside our technology platforms and expertise, to drive MyPolicy’s future growth.
As Kyle Tyrrell, our Chief Financial Officer, explains: “MyPolicy are one the of UK’s leading telematics brokers specialising in young drivers and low mileage drivers. Its sustained focus on this market has enabled the business to develop significant expertise, innovations and loyal customer base that will strengthen Acorn Group’s position in telematics insurance.”
Mike Lloyd, our Chief Executive Officer, added: “As one of the UK’s leading non-standard insurance groups, we have been investing significantly over the past several years in telematics products for our customers. In 2021, we acquired Carrot, a telematics broker, which has enabled us to make significant strides in the telematics market. The acquisition of MyPolicy will provide us with additional capabilities to further advance our customer offering and support our growth and position in this market.”
Patrick Quinn, Founder of MyPolicy, shared: “After 15 years of innovation and expertise in telematics, MyPolicy has built cutting edge intellectual property and credentials in this rapidly growing market. This acquisition marks an exciting new chapter in the business’ expansion, combining our proven technology and expertise with a market-leading insurer at the forefront of driver telematics. Together, we gain instant scale, enhanced capacity and are well positioned for future growth.”
This acquisition marks a pivotal moment for both businesses as we work together to provide better insurance solutions and expand in the telematics market.
For information about MyPolicy visit www.mypolicy.co.uk.