{"id":392754,"date":"2020-12-03T09:03:38","date_gmt":"2020-12-03T14:03:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=392754"},"modified":"2020-12-03T09:03:38","modified_gmt":"2020-12-03T14:03:38","slug":"travelers-to-acquire-insuramatch","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/travelers-to-acquire-insuramatch\/","title":{"rendered":"Travelers to Acquire InsuraMatch"},"content":{"rendered":"

<\/p>\n

Travelers to Acquire InsuraMatch<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe Travelers Companies, Inc. (NYSE: TRV<\/a>) today announced that it has agreed to acquire InsuraMatch<\/a>, LLC, a digital independent insurance agency, from the Plymouth Rock Group of Companies. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. Terms were not disclosed.\n<\/p>\n

\nInsuraMatch uses an innovative online platform to help consumers compare offerings from more than 40 carriers across the United States. With a focus on personal insurance, InsuraMatch offers coverage for auto, home, boat, motorcycle, renters, umbrella and flood, among others.\n<\/p>\n

\n\u201cWe 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,\u201d said Michael Klein, Executive Vice President and President of Personal Insurance at Travelers. \u201cInsuraMatch\u2019s scalable technology platform will complement our efforts to meet customers where they are, give them what they need and serve them how they want.\u201d\n<\/p>\n

\nInsuraMatch will continue to operate independently and manage all carrier partnerships.\n<\/p>\n

\n\u201cWe have been steadily building our business over the past several years and are excited to enter this next phase with the support of Travelers,\u201d said Marc Buro, Chief Executive Officer of InsuraMatch. \u201cOur talented team and proven technology, paired with Travelers\u2019 expertise and financial strength, will enable us to continue our growth while enhancing the customer experience.\u201d\n<\/p>\n

\nFounded in 2014 as part of Plymouth Rock, InsuraMatch operates as an autonomous business unit. In 2019, InsuraMatch produced nearly $32 million in premiums. Encharter Insurance, Plymouth Rock\u2019s Massachusetts-based brokerage, will not be included in the transaction and will remain a part of the Plymouth Rock Group of Companies.\n<\/p>\n

\nLen Mariani, Senior Vice President of National Markets for Personal Insurance at Travelers, added, \u201cInsuraMatch combines a sophisticated technology platform with extensive carrier relationships to create personalized online insurance shopping experiences for customers. We\u2019re looking forward to providing their knowledgeable staff and leadership team with the tools and resources they need to realize the full potential of their offering.\u201d\n<\/p>\n

About Plymouth Rock<\/b><\/p>\n

\nPlymouth Rock was established to offer its customers a higher level of service and a more innovative set of products and features than they would expect from an insurance company. Plymouth Rock\u2019s innovative approach puts customers\u2019 convenience and satisfaction first, giving them the choice to do business the way they want \u2013 online, using a mobile device, by phone or with one of Plymouth Rock\u2019s agents. Plymouth Rock Assurance\u00ae and Plymouth Rock\u00ae are brand names and service marks used by separate underwriting, managed insurance, and management companies that offer property and casualty insurance in multiple states. Taken together, the companies write and manage more than $1.6 billion in auto and home insurance premiums across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Pennsylvania.\n<\/p>\n

\nEach underwriting and managed insurance company is a separate legal entity that is financially responsible only for its own insurance products. Actual coverage is subject to the language of the policies as issued by each separate company. Some discounts, coverages, payment plans, features and benefits are not available in all states and companies. You can learn more about us by visiting plymouthrock.com<\/a>.\n<\/p>\n

About Travelers <\/b><\/p>\n

\nThe Travelers Companies, Inc. (NYSE: TRV<\/a>) is a leading provider of property casualty insurance for auto<\/a>, home<\/a> and business<\/a>. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $32 billion in 2019. For more information, visit Travelers.com<\/a>.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nAll statements in this press release, other than statements of historical facts, may be \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as \u201cwill,\u201d \u201cexpects\u201d and similar expressions are used to identify forward-looking statements. Travelers cautions investors that such statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements. Some of the factors that could cause actual results to differ are discussed under the headings \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d in Travelers\u2019 quarterly report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on October 20, 2020, and annual report on Form 10-K filed with the SEC on February 13, 2020, in each case as updated by Travelers\u2019 periodic filings with the SEC. Additional factors that could cause actual results to differ include, but are not limited to, risks relating to pursuing new markets and opportunities, and the risk that Travelers may not realize the anticipated benefits from the transaction. The forward-looking statements in this release speak only as of the date of this release, and Travelers undertakes no obligation to update any forward-looking statements.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201203005556\/en\/<\/a><\/span><\/p>\n

Investors:
\n<\/b>
Abbe Goldstein, 917.778.6825\n<\/p>\n

Media:
\n<\/b>
Patrick Linehan, 917.778.6267\n<\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Automotive General Automotive Technology Insurance Mobile\/Wireless<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Travelers to Acquire InsuraMatch NEW YORK–(BUSINESS WIRE)– The Travelers Companies, Inc. (NYSE: TRV) today announced that it has agreed to acquire InsuraMatch, LLC, a digital independent insurance agency, from the Plymouth Rock Group of Companies. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. Terms were not disclosed. InsuraMatch uses an innovative online platform to help consumers compare offerings from more than 40 carriers across the United States. With a focus on personal insurance, InsuraMatch offers coverage for auto, home, boat, motorcycle, renters, umbrella and flood, among others. \u201cWe continue to invest in the talent and technology that will allow us to best serve our customers and bring strategic capabilities … <\/p>\n

Continue reading “Travelers to Acquire InsuraMatch”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-392754","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTravelers to Acquire InsuraMatch - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/travelers-to-acquire-insuramatch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Travelers to Acquire InsuraMatch - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Travelers to Acquire InsuraMatch NEW YORK–(BUSINESS WIRE)– The Travelers Companies, Inc. (NYSE: TRV) today announced that it has agreed to acquire InsuraMatch, LLC, a digital independent insurance agency, from the Plymouth Rock Group of Companies. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. Terms were not disclosed. InsuraMatch uses an innovative online platform to help consumers compare offerings from more than 40 carriers across the United States. With a focus on personal insurance, InsuraMatch offers coverage for auto, home, boat, motorcycle, renters, umbrella and flood, among others. \u201cWe continue to invest in the talent and technology that will allow us to best serve our customers and bring strategic capabilities … Continue reading "Travelers to Acquire InsuraMatch"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/travelers-to-acquire-insuramatch\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-03T14:03:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201203005556r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/travelers-to-acquire-insuramatch\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/travelers-to-acquire-insuramatch\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Travelers to Acquire InsuraMatch\",\"datePublished\":\"2020-12-03T14:03:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/travelers-to-acquire-insuramatch\\\/\"},\"wordCount\":831,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/travelers-to-acquire-insuramatch\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201203005556r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/travelers-to-acquire-insuramatch\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/travelers-to-acquire-insuramatch\\\/\",\"name\":\"Travelers to Acquire InsuraMatch - 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