Clutch to integrate iA's insurance products in its online car
buying experience.
QUEBEC
CITY, July 5, 2024 /CNW/ - iA Financial Group is
pleased to announce a $10 million
investment in Canadian business Clutch Technologies Inc.
("Clutch"), which specializes in online sales of
pre-owned vehicles.
Founded in 2017, Toronto-based
Clutch in 2023, posted sales of over 8,000 used vehicles through
its online platform, making it one of Canada's largest retailers of used
vehicles.
This investment enables iA Financial Group to develop its
expertise in selling products on an entirely online basis. Clutch
customers will now enjoy a simple and complete experience in a
single online transaction, from purchasing a vehicle to selecting
certain types of coverage.
Clutch customers are currently able to purchase iA Financial
Group extended warranty and guaranteed asset protection
products.
"Clutch was founded to offer Canadians a seamless and
transparent car buying experience, ensuring complete peace of
mind," said Dan Park, CEO of
Clutch. "We are thrilled to partner with iA Financial Group to
further elevate our user experience and provide best-in-class
warranty and insurance products to our customers."
"iA Financial Group has long been a leader in the Canadian
dealer services market," said Pierre
Miron, Executive Vice-President and Chief Growth Officer
Canadian Operations at iA Financial Group. "With this strategic
investment in Clutch, we are adding online sales as a new product
distribution channel to our current extensive network of automotive
dealer services. As a result, we are well positioned to serve
consumers in their preferred way when they purchase vehicles and
insurance products."
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth
management groups in Canada, with
operations in the United States.
Founded in 1892, it is one of Canada's largest public companies and is
listed on the Toronto Stock Exchange under the ticker symbols IAG
(common shares) and IAF (preferred shares).
ia.ca
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iA Financial Group is a
business name and trademark of iA Financial Corporation Inc.
and Industrial Alliance Insurance and Financial Services
Inc.
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SOURCE iA Financial Group