Disruptive Investment Group (ASX: DVI), formally Allied Consolidated (ASX: ABQ) has signed an agreement with The Hollard Insurance Company to cross-sell Hollard’s travel insurance products from DVI’s travel websites.
Hollard is a global company with over 7.2 million policy holders and $2.2 billion in Gross Written Premium.
The proposed arrangement will provide Disruptive with a white label solution that includes the relevant financial services licensing, training and products.
This agreement further delivers on DVI’s stated strategy of becoming a “one stop shop” for travellers.
The company owns the travel websites www.checkin.com.au, www.CheapHotels.com.au and is in the process of acquiring www.EscapeLounge.com.au which provides a booking service for Australian travel tours and adventures.
Notably, the Escape Lounge founders agreed to accept an ‘all scrip’ consideration for a 50% stake, and terms of the acquisition also include a 24 month option for DVI to acquire the remaining 50% for cash and DVI options.
DVI is capitalised at around $9 million and appears destined for growth.