The Travelers Companies has agreed to take over digital insurance agency InsuraMatch from the Plymouth Rock Group of Companies.
The transaction, whose financial terms were not shared, is expected to conclude in the first quarter of next year.
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Founded in 2014 as part of Plymouth Rock, InsuraMatch operates as an independent business unit.
The firm offers coverage for motorcycle, auto, home, renters, umbrella, boat, and flood, among others, with its primary focus on personal insurance.
It also provides an online platform that compares offerings from over 40 carriers across the US.
Last year, InsuraMatch generated nearly $32m in premiums.
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By GlobalDataTravelers executive vice-president and Personal Insurance president Michael Klein said: “We continue to invest in the talent and technology that will allow us to best serve our customers and bring strategic capabilities to our agents and brokers in an increasingly digital environment.
“InsuraMatch’s scalable technology platform will complement our efforts to meet customers where they are, give them what they need and serve them how they want.”
InsuraMatch will continue to operate independently and manage all carrier partnerships after the completion of the transaction.
InsuraMatch CEO Marc Buro said: “We have been steadily building our business over the past several years and are excited to enter this next phase with the support of Travelers.
“Our talented team and proven technology, paired with Travelers’ expertise and financial strength, will enable us to continue our growth while enhancing the customer experience.”
Last month, Travelers rolled out Global Companion Plus+, which builds upon its property and casualty offerings for US firms with foreign exposures.
