At-Bay, a San Francisco, CA-based insurance provider for the digital age, acquired Relay, a Toronto, Canada-based technology solutions provider enabling the digital transformation of commercial insurance placements.
The amount of the deal was not disclosed.
Founded in 2019 by Greg Boutin, co-founder and CEO, Relay has built a broker-friendly and dynamic digital placement solution for multiple specialty commercial lines, with a focus on cyber and support for many other lines such as Management Liability, Reps & Warranties, Terrorism, and Small Commercial/BOP.
The addition of the Relay marketplace will complement At-Bay’s ongoing digital distribution strategy to empower brokers and partners with innovative technology. This includes a dedicated broker platform, and an API for partnering with technology platforms and digital distribution solutions in the market.
Relay will continue to serve brokers and partners as an independent entity, under its own management team. Joining At-Bay enhances Relay’s ability to expand its capabilities and value-added services for its partners.
Led by Rotem Iram, co-founder and CEO, At-Bay is an insurance provider for the digital age. By combining technology with insurance expertise, the company was designed from the ground up to empower businesses to thrive in the digital world. At-Bay’s annual recurring gross written premium (ARGWP) surpassed $360 million in 2022, and the company has raised $292 million from investors including Lightspeed Venture Partners, Khosla Ventures, M12, Acrew Capital, Icon Ventures, ION Crossover Partners, Qumra Capital, the HSB fund of Munich Re Ventures, and entrepreneur Shlomo Kramer.
FinSMEs
23/08/2022