insurtech M&A News

Why It’s a Good Time for Insurtechs to Be Thinking About Mergers

The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead, an insurance industry expert believes. “InsurTech is reaching a point where [startups] must decide whether …

Bold Penguin Acquires RiskGenius in Commercial Insurance Technology Deal

Insurance technology firm Bold Penguin has acquired RiskGenius in a deal that the two commercial lines insurtechs said will help grow their reach more than they have been able to thus far on their own, Carrier Management reported. The main …

Insurtech MGA Hippo to Buy Its Carrier Partner Spinnaker Insurance

Home insurance insurtech agency Hippo plans to acquire New Jersey-based Spinnaker Insurance Co., an insurer with which it has has had a three-year partnership. The deal, first reported by Carrier Management, is designed to help Hippo – a managing general …

Commercial Lines Insurtech Bold Penguin Acquires E&S Brokerage Tech Platform xagent

Bold Penguin, a commercial insurance exchange technology platform launched in 2016, announced it has acquired xagent, an independent, single-entry, multi-quote platform for standard and surplus lines business insurance market. Bold Penguin said the transaction will allow it to better serve …

Insurtech M&A: Applied Systems to Acquire Indio to Digitize Commercial Lines Sales

Leading insurance technology firm Applied Systems has agreed to acquire digital insurance technology startup Indio Technologies. The move will enable Applied Systems to offer Indio’s digitized commercial insurance application and renewal process to its 13,000 agency and brokerage customers and …

Home Insurance Insurtech Hippo Buys Home Services Startup Sheltr

Digital home insurance managing general agency Hippo Insurance has acquired an early-stage startup in a bid to beef up its digital home insurance services for clients, Carrier Management reported. The insurtech said it acquired Sheltr, a San Francisco-based tech-enabled services …

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 …

The Hartford Acquires Sharing Economy Insurance Specialist Y-Risk

The Hartford has purchased Y-Risk, a managing general underwriter that specializes in serving sharing and on-demand economy risks, from Allstar Financial Group, an Atlanta-based holding company with multiple specialty managing general agencies across the country. Unionville, Connecticut-based Y-Risk’s customer mix …