Ashley Reading has paid heartfelt testimony to the work of his team as the Bounce CEO revealed the sale of his company to leading financial solution giants Cream.
The deal, which includes Bounce’s sales process and their referral marketing algorithms, would not have been possible without the “dedication and talent” of his team, Reading said.
“Cream is a phenomenal company and this acquisition is an incredible success story for Bounce. But I want everyone to be clear, I couldn’t have done it without the support of an incredible Bounce team – the head office in Bromley, the sales team based in Manchester, and the network of thousands of amazing Bouncers all around the UK, who I thank with all my heart. I am lucky to have such amazing people on my side.”
Reading, 51, transformed the insurance industry with a groundbreaking referral marketing model. His nationwide team of ‘Bouncers’ increase the awareness of life and health insurance to their friends, family and social media audiences.
“I’m so proud that Bounce has been that splash of colour in a typically grey industry,” he said.
“I’ve absolutely loved the journey of building the company from ground up to become one of the U.K’s most admired insurance brokers, helping tens of thousands of clients get better protected, with sums assured in excess of £3bn.”
The existing Bounce senior advisory and management team will now be employed by Cream Financial Solutions. They will continue to work out of the existing Bounce Manchester UK office.
CEO Reading said he was proud to have struck a deal with a “respected and trustworthy” company such as Cream.
“I’m confident that the business will rise to even greater heights under the new ownership of Simon Smith at Cream. I’ve known Simon for many years, he’s one of the industry’s most respected and hard-working guys.”
“I know our clients are going to continue to be extremely well looked after for many years to come. I genuinely couldn’t be more pleased, and I know that our mission to make the UK happier, healthier and better-protected will be carried on with great determination by Simon and his top team. What’s exciting is that there’s still so much that I know is going to be achieved under the Bounce and Cream brands.”
Founded in 2016, Bounce Life has grown into one of the most respected life and health insurance brokers in the UK. More than 5,000 work-from-home “Bouncers” have been recruited in that period. The team aims to increase the awareness of life and health insurance needs to their friends, family and social media audiences.
Bounce has been ranked in the Top 100 best UK startups over the past five years. Last year the company was recognised as the best life and health insurance company at the SME Finance Awards.
The company is built on a highly sophisticated tech platform that Bounce Life owns and developed.
Co-founder and CEO Ashley Reading, who confirmed he will remain on as a consultant to the Cream board, said:
“As an insurtech business, this is a great added-value acquisition for Cream, who have aspirations to take the front-end lead generation model and grow it by scale.
I am remaining on as a consultant to the Cream board, adding value and creative input wherever possible. I’ll also still be actively involved in driving Bounce Network, behind the scenes.” “I have already started working on my next ‘business-disrupter’ platform. Once again, it is going to be a business centred around making a massive difference to people’s lives and, as always, having plenty of fun along the way.”