Built-in Specialty Coverages (ISC), a multi-line programme administrator, has acquired US-based impartial journey insurance coverage market TravelInsurance.com.
Monetary phrases of the deal stay undisclosed.
The acquisition is alleged to boost ISC’s specialty insurance coverage programme portfolio.
TravelInsurance.com allows shoppers to check and buy journey insurance coverage on-line.
The platform options merchandise from carriers corresponding to Generali, AXA and Journey Guard, and boasts greater than 130,000 verified third-party evaluations.
TravelInsurance.com co-founder Drew Sharma mentioned: “We constructed TravelInsurance.com to simplify a posh product, making journey insurance coverage clear and simple to check and purchase on-line.
“From day one, our focus was to ship a seamless expertise for travellers. ISC shares that very same dedication to simplifying insurance coverage, and with its unmatched energy in know-how, analytics, operations, and a top-tier administration crew, we see an unbelievable alternative to speed up our progress and proceed setting the usual within the journey insurance coverage market.”
TravelInsurance.com will retain its model in addition to preserve its direct-to-consumer mannequin and relationships with carriers.
The corporate’s founders will stay on the helm and drive its progress as a part of the ISC crew.
ISC will use its know-how and assets to increase TravelInsurance.com’s presence and strengthen its place as a journey insurance coverage platform.
The combination of TravelInsurance.com’s market with ISC’s know-how infrastructure and information capabilities is predicted to ship enhanced worth to shoppers.
ISC CEO Matt Grossberg mentioned: “TravelInsurance.com brings a best-in-class platform, deep trade relationships and a loyal buyer base to ISC.
“Their tech-forward method and dedication to buyer expertise completely enhances our imaginative and prescient of constructing specialty insurance coverage straightforward and accessible to shoppers. We’re thrilled to welcome co-founders Stan Sandberg and Drew Sharma and your entire TravelInsurance.com crew to ISC.”
Vista Level Advisors was the unique monetary advisor to TravelInsurance.com for this transaction.
