FlexiQuote has new owners

Flexiquote’s new owner, HeiTech Padu, vows to boost the company’s resources.

FlexiQuote has been sold to HeiTech Padu (HTP) from Malaysia with the company forming part of the global expansion plan for HeiTech’s automotive business.

HeiTech Padu is a publicly listed company on the Malaysian stock exchange with a posted 2010 turnover of over RM 400 million (approximately $125.3M).

HTP is steeped in automotive. It was awarded the concession to provide vehicle parts price and labour times databases to the Malaysian aftermarket industry in 1999. Using the UK’s Thatcham as its research partner and the Motordata Research Consortium (owned by HeiTech), the company says it has not only helped to reduce the subjectivity and graft in the industry, but also provided clear guidelines for the motor claims and repair businesses to follow. Every motor claim has to be lodged with the MRC’s central database for accident records,  so for the last 12 years HeiTech has been providing and collating valuable industry data which it says has improved the motor insurance and repair business.

Overseas, HTP was one of the partners that created the world’s first completely online bodyshop management system. BodyNet in the UK has been in operation for over five years, and provides bodyshop management, repair tracking, claims notification, and Thatcham estimating systems. In the Middle East, HTP is the solution partner and a shareholder in Saaed Traffic Systems.

HTP’s investment in Australia will provide a platform to promote its automotive products through Cinix1. HTP says that by providing international expertise, financial and people resources, it hopes it can assist Cinix1 in continuing to be a market leader in the automotive aftermarket industry in Australia.