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December 3, 2020

Travelers to acquire insurtech to expand personal insurance business

travlers hartford offices insurance HBJ File Photo

Travelers announced Thursday that it has agreed to buy InsuraMatch, a digital independent insurance agency, to help the insurance giant expand its personal insurance portfolio. 

InsuraMatch, part of the Plymouth Rock Group of Companies, will continue to operate independently and manage all carrier partnerships. The deal with New York-based Travelers, which has major operations in downtown Hartford, is expected to close in the first quarter of 2021; terms were not disclosed.

InsuraMatch’s website helps individuals compare plans from more than 40 carriers nationwide, offering personal plans for coverage including vehicles, homes, renters and flood.

“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,” said Michael Klein, executive vice president and president of personal insurance at Travelers. 

Boston-based InsuraMatch operates as an autonomous business unit of Plymouth Rock and booked nearly $32 million in premiums in 2019. It was founded in 2014. 

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