Dayinsure.com
Convex Capital has acted as exclusive advisor to the Shareholders on the sale of Dayinsure.com Limited, a leading provider of temporary motor insurance cover in the UK for car, van, motorhome and business drivers with strengths in IT and data analytics, to Abacai, the insurtech group recently formed by former Aviva CEO Mark Wilson and Sun Capital Partners. Abacai will retain Dayinsure as one of its go-to-market brands, and the management team will remain in place leading the separate subsidiary. The Group plans to be a participant in further insurtech M&A, to expand its footprint and enter additional markets.
Headquartered in Tarporley, Dayinsure.com was founded by Dennis & Gill Ryan in 2005 and sells short-term motor insurance products to retail and business customers through their own and partner websites. Dayinsure.com cover is comprehensive and available immediately, operating on a ‘pay as you go’ basis for any 24-hour period from 1 to 28 days, allowing customers to insure temporary additional drivers, insure temporary additional vehicles, drive a vehicle away from a garage, private sale or auction site properly insured and learn to drive in a friend or family member’s vehicle. Dayinsure’s business partners include key partner status with Aviva and Allianz, as well as partnerships with RAC, ADP, Money Supermarket, Go Compare and Catlin.
The Convex deal team was led by Mike Driver, Nathalie Hodgkinson, Isaac Asamoah, Indy Singh and Rob Hodgkinson. James Edge and Warren Meggitt originated the transaction and identified Abacai as the strategic purchaser.
