Pennsylvania-based Ignyte Insurance, a specialty insurance platform, has acquired InsureMyTrip, a travel insurance marketplace that helps travelers compare and purchase coverage from insurance providers.
Terms of the transaction were not disclosed.
Rhode Island-based InsureMyTrip reports it has served more than 6 million travelers. Its marketplace includes insurance for trip cancellation, travel medical, evacuation, cruise, student travel and annual protection plans.
InsureMyTrip will continue operating under its own brand name.
Ignyte Insurance is focused on building and scaling specialty insurance brands in unique, niche markets. The acquisition further advances Ignyte’s strategy to build a global portfolio of travel and travel medical insurance businesses.
“Travel is an important and growing part of Ignyte’s strategy, and we have been steadily building a portfolio of highly regarded businesses that serve travelers across markets around the world,” said Geof McKernan, CEO of Ignyte Insurance.
InsureMyTrip joins five Ignyte travel brands serving customers across the U.S. and international markets: ISO Student Health Insurance, Envisage Global Insurance, AllClear, InsureandGo and International Student Insurance.
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