Arch Insurance coverage at the moment mentioned it has acquired Thimble, an insurtech platform that allows small companies to get insurance coverage protection by the job, month or yr utilizing app, web site, or over the cellphone.
Phrases weren’t disclosed.
Arch mentioned the acquisition expands its suite of digital options for small enterprise clients and brokers. Since Might 2018, Thimble has delivered greater than 170,000 insurance policies to small companies throughout the US. Thimble works with a wide range of carriers together with Markel and Employers. The Thimble crew will proceed rising the enterprise with its present service companions and provide new options via Arch.
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“At Arch, we’re all the time trying to broaden our digital options and create new, straightforward methods to do enterprise with us,” mentioned Jay Rajendra, Arch’s chief technique and innovation officer. “Thimble makes insurance coverage straightforward. The Thimble crew has created a best-in-class digital expertise for small enterprise clients and brokers to amass and handle insurance coverage. We’re enthusiastic about rising the Thimble platform and making use of a lot of its digital practices throughout Arch to higher serve our companions.”
Jay Bregman, co-founder of Thimble, mentioned, “We’re delighted to hitch the Arch household. Your complete Thimble crew is trying ahead to working with Arch and our present service companions to develop the platform. I’m equally excited to see how our crew’s digital expertise can profit Arch and its distribution companions.”
Subjects
Mergers & Acquisitions
InsurTech
Tech
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