Zinnia, a Greenwich, CT-based life and annuity insurance technology and digital services company, acquired Policygenius, a New York-based digital insurance marketplace.
The amount of the deal was not disclosed. KKR, through its Technology Growth strategy, was a lead investor in Policygenius and will remain an investor in the combined company.
The acquisition expands Zinnia’s reach into digital distribution solutions, creating new opportunities to service carriers and distribution partners. Together, the two companies will offer products and services spanning life and annuities, disability, and property and casualty insurance.
Founded in 2014 by Francois de Lame and Jennifer Fitzgerald, Policygenius provides a platform where customers can compare options from insurance carriers, get unbiased expert advice, buy policies, and manage their insurance portfolio, in one integrated experience. Its proprietary technology platform integrates with life, disability, and home and auto insurance carriers to deliver a digital experience for both consumers and insurance carriers.
Led by CEO Michele Trogni, Zinnia combines product capabilities to create simplified and digitized outcomes that deliver value and foster secure, and efficient experiences for carriers, advisors, consumers, and reinsurers. Its vision for Open Insurance empowers clients through technology solutions that decrease processing time, drive product innovation, and bring new products to market faster.
FinSMEs
26/04/2023