Rabbit Care acquires ‘EasyCompare’ broker business, Elevating Its Insurance Brokerage Footprint and Propelling Car Insurance Access to Over 400,000 Strong User Base
With the closure of this deal, the company is confident in achieving its 2023 revenue target.
Bangkok – September 26, 2023 – Rabbit Care Broker Company Limited, Thailand’s leading online insurance (InsurTech) and financial product comparison platform (FinTech) under BTS Group, takes a significant step towards broadening its presence in the car insurance brokerage sector. The company has successfully acquired EasyCompare’s broker business, welcoming 30,000 clients from the acquired business. This strategic move solidifies Rabbit Care’s reputation as the foremost brokerage platform, known for its extensive range of top-tier products.
With this acquisition, Rabbit Care is poised to achieve its 2023 revenue growth target of 50%, further solidifying its position as a frontrunner in the industry. Furthermore, the company anticipates that insurance premiums across all products will surpass 4.5 billion baht for the current financial year.
Michael M. Steibl, Co-Founder and Chief Executive Officer of Rabbit Care Company Limited, highlighted the significance of this acquisition. He stated, “This transaction not only provides us access to a customer base of over 30,000 active clients but also connects us with at least 400,000 EasyCompare users who are considering insurance purchases. Our objective is to become an industry frontrunner, offering a world-class digital platform tailored to the needs of the Thai population.”
To ensure a seamless transition for EasyCompare customers, Rabbit Care has appointed Thomas Maier, Chief Marketing Officer, to concurrently oversee the position of Chief Operations Officer. This dual role will enhance the entire customer journey, ensuring a smoother experience from the first touchpoint to policy delivery.
He further emphasized that Rabbit Care remains dedicated to delivering a seamless experience to everyone, founded on the principle of ‘Handle with Care.’ This serves to foster confidence among customers that they will receive care and after-sales support without interruption. A high level of customer satisfaction is guaranteed by a remarkable Google Reviews rating of 4.6 stars, derived from reviews of a portion of Rabbit Care’s current user base exceeding 4 million individuals.
Simon Birch, Director of Easy Compare (Thailand) Company Limited, emphasized the significance of delivering uninterrupted customer service. Given this critical consideration, EasyCompare has chosen Rabbit Care, a prominent non-life insurance broker renowned for its expertise and experience in providing optimal insurance solutions to clients, to acquire the business. EasyCompare is confident that Rabbit Care’s capabilities will ensure customers receive seamless assistance in identifying and securing well-suited insurance policies. The acquisition also aligns with the core objectives of both organizations, centered on advancing a world-class and efficient online platform tailored to the needs of the Thai populace.
“I am immensely proud of EasyCompare and pleased that it has been acquired by a company as excellent as Rabbit Care. On behalf of myself and other shareholders, we express our gratitude to the dedicated EasyCompare team for building such a robust business,” said Mr. Birch.
Thomas Maier, Chief Operating Officer and Chief Marketing Officer of Rabbit Care Company Limited, outlined the company’s commitment to operational excellence. Rabbit Care’s dedicated team of professionals is equipped to facilitate a seamless transition, and the company is investing in advanced technology, exemplified by the Rabbit Care operating system (CareOS 2.0), to simplify the customer experience. With CareOS 2.0, customers can swiftly compare car insurance prices from over 30 companies within a mere 30 seconds.
Customers also benefit from a user-friendly customer portal for checking policy status, managing documents, and accessing value-added services, including 24-hour roadside assistance, which encompasses technical consulting services, and a car replacement service lasting 3 days, sourced from Thailand’s leading car rental service providers. Moreover, Send Driver Home service is provided
to customers using a car-calling app in situations where they experience accidents and are unable to continue using their vehicles.