Zurich acquires US insurtech firm Sea Pine Technologies
Zurich North America has acquired Sea Pine Technologies, a US-based insurtech firm that specialises in developing digital applications for the marketing of vehicle protection products. The insurer said that the move will enable it to further expand its automotive finance & insurance (F&I) capabilities for auto dealers and car owners. “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,” said Kathleen Savio, CEO of Zurich North America. Anurag Batta, head of strategy, innovation and business development for Zurich North America, added: “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.” Zurich began its relationship with Sea Pine in 2018, collaborating on a pilot programme with auto dealers testing its digital application. Sea Pine CEO Andrew Rosen, said: “We are extremely excited to become a part of Zurich North America, truly a first-class organization that puts an emphasis on being at the forefront of innovation and bringing real distinguishable value to its dealer network."
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