Marsh acquires Dovetail Insurance
Broker Marsh has agreed to acquire insurance technology service provider Dovetail Insurance.
Based in Columbia, Dovetail has developed a cloud-based technology platform that enables independent insurance agents to acquire online quotes from multiple insurance providers and bind insurance policies in real time, on behalf of their small business clients.
The acquisition, which is expected to close in the third quarter of 2015, will see Dovetail become part of Marsh’s global risk and specialties segment.
Upon closing, Steve Francis, the chief executive officer of Dovetail, along with the rest of the Dovetail team, will join Marsh to help further develop its small and medium-sized enterprise (SME) strategy in the US.
John Drzik, president of global risk and specialties, said: “The addition of Dovetail is part of Marsh’s global strategy to provide expanded services to the SME segment.
“By combining Dovetail’s advanced technology platform with Marsh’ s industry-leading data, distribution, and access to insurance capital, we will create an innovative online intermediation mechanism for the small commercial insurance market.”
Francis said: “We are excited to join Marsh to accelerate our market penetration, and deliver a wider array of products to SMEs.”
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