Digital Media Solutions (DMS) has acquired insurtech company UE.co, which is based in San Diego, California. The terms of the transaction have not been disclosed.
The acquisition also includes ZipQuote and the Comanche click platforms.
The newly acquired brands will be placed under the company’s newly created division DMS Insurance.
Founded in 2008 by Jason Kulpa, UE.co provides digital marketing software and services. Following the deal, Kulpa has decided to leave the organisation.
UE.co, as DMS Insurance, will now be spearheaded by Taryn Lomas and Keola Malone who were the original co-founders of the company.
Lomas will assume the role of insurance EVP, while Malone will be the EVP of technology.
Digital Media Solutions CEO Joe Marinucci said: “Consumers are looking for optionality when it comes to insurance coverage, and insurers are competing with increasingly targeted campaigns and effective offers to match consumers with their policies.
“As insurance companies shift more of their advertising budgets to digital media to achieve greater accountability for their marketing spend, consolidation within the digital insurance marketplace is quickening.
“Prudential acquired Assurance, Lending Tree purchased QuoteWizard and now DMS has acquired UE.co and ZipQuote to capitalize on the projected growth of the digital insurance market and to serve the needs of both consumers and insurance providers.”