insurtech acquisition News

American Family Insurance to Acquire Small Business Insurtech Bold Penguin

Madison, Wisconsin-based American Family Insurance is acquiring insurtech company Bold Penguin that serves small businesses. The Bold Penguin digital exchange is used by insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers. …

For Brown & Brown, Acquiring CoverHound Accelerates Tech Modernization Efforts

Property/casualty insurance companies far and wide are considering whether to develop technology platforms in-house or modernize some other way. Brown & Brown chose an acquisition to get there. The broker announced in November that it bought digital property/casualty insurance marketplace …

Pandemic Economic Uncertainty Could See Insurers Buying, Partnering with Insurtechs

Insurance carriers could increasingly target insurtechs for acquisition and partnerships in the coming months due to pandemic-related economic uncertainty, according to a report. “As insurers move toward late 2020 and into 2021, we believe there may be an increase in …

Aon to Acquire CoverWallet, Small-Medium Business Digital Insurance Agency

Global insurance broker Aon has agreed to acquire CoverWallet, a leading digital insurance platform for small and medium-sized businesses. The acquisition provides Aon with additional access to what it sees as a fast-growing, $200+ billion premium global digital insurance market …

Prudential to Pay $2.35 Billion for Insurtech Startup Assurance IQ

Prudential Financial Inc. is set to buy online insurance startup Assurance IQ Inc for $2.35 billion, the latest in a series of moves by traditional insurers to up investment in technology and data crunching by buying Silicon Valley startups. Shares …