Investec Acquisition of BizCover the Right Decision

The acquisition of BizCover, an Australian-owned online professional insurance broker marks another key milestone for Investec.


investec-acquires-stake-in-bizcoverPRLog (Press Release) – Apr 27, 2009 – The decision made by Trevor Sacks from the Investec team to invest a 20% equity stake in Mega Capital has proven to be the right decision with the successful launch of BizCover – one of the first aggregators of business insurance globally.

The Australian-owned online professional insurance broker, which launched early 2008, is where mid-market professionals can compare and buy professional
Indemnity insurance in minutes.

In the past month, BizCover has expanded their services to include more products, including Business Insurance and Public Liability insurance.  It has become the one-stop shop for individuals requiring insurance, who don’t want to go through the outdated process of unnecessary paper work.

BizCover’s process is simple.  It instantly provides comparative quotes from some of Australia’s leading insurers and, once a policy is selected, it can be purchased immediately. Moreover, it eliminates the drawn out process of shopping for quotes, filling in lengthy and complicated proposal forms, and waiting months for policy documentation to arrive.

BizCover has partnered with leading insurance companies such as Vero, AIG, and Dual/Lumley to offer customers the most competitive and comprehensive insurance coverage available, in the shortest amount of time.

Trevor refers to this acquisition as a ‘straightforward transaction”, and one that “backed the right people, in the right business venture.”  This early success of BizCover has more than validated his words.

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