CPP India is the Group’s largest operating business, with nine core distribution partners serving over nine million customers.
It distributes its products primarily to major non-banking financial companies. Its strength comes from designing products at a local market level and partnering with third parties and insurers to create propositions that drive value for their local clients. Headline offerings include a health and wellness product, LivCare, gadget and phone protection through Fonesafe, extended warranty and repair services with Asset Secure, and assistance with lost and stolen payments cards through Card Protection.
CPP India will continue with its successful local market strategy, focused on providing digital, low-cost innovative product and service solutions to a growing distributor base. All of this will be possible thanks to a new technology platform that will widen product and distribution capability.
This market also includes our 51% stake in Globiva, a leading business process management (BPM) company, providing outsourced customer relationship management, back-office functionality, and automated human resource services to a predominately tech-focused client base. In November 2023, to further simplify CPP, the Group agreed to the disposal of its holding in Globiva over the next three years for an overall consideration of approximately £5.1m.