Zurich North America, a subsidiary of Zurich Insurance Group, has purchased Dallas-based insurtech start-up Sea Pine Technologies for an undisclosed sum.

Sea Pine Technologies, founded in 2016, specialises in digital applications for the marketing of vehicle protection products.

The acquired entity helps dealers to meet the consumer demand for automotive Finance & Insurance (F&I) products, retain customers and increase their bottom lines.

Zurich expects the acquisition to further boost its automotive F&I capabilities and strengthens its offerings to both auto dealers and car owners.

Zurich North America CEO Kathleen Savio said: “Zurich continues to invest in the businesses and customer segments where it sees the best opportunities for excellence.

“This acquisition builds on our strengths by delivering competitive capabilities for us in North America and accelerates our delivery of innovative and valued solutions to our customers.”

Zurich North America head of strategy, innovation and business development Anurag Batta said: “This acquisition exemplifies our customer-led spirit of innovation that Zurich continues to foster as we apply customer insights to develop new ways to augment our own capabilities with companies ready to deliver innovative products and services that meet our customers’ needs now and in the future.”

The acquisition is culmination of a Zurich relationship with Sea Pine that started last year when the duo started a pilot programme with auto dealers to test Sea Pine’s digital application.

Zurich North America head of direct markets Vince Santivasi stated that Sea Pine’s technology combined with Zurich’s current F&I selling system and its vast experience will significantly increase F&I product sales through additional channels.