Dovetail Insurance, supplier of cloud-based insurance product-delivery services for P&C insurers, MGAs and brokers, has acquired NetComp Insurance, a growing web-based distributor of workers’ compensation insurance.
"Dovetail's technology solutions and insurance expertise have been a critical factor in the success we've had in substantially growing our business in our first two years," said John Seibert, president and CEO, NetComp Insurance. "Dovetail's resources and advanced technology will allow us to further invest in the business, and continue our expansion to additional states."
The transaction combines Dovetail's technology platform with NetComp's program-management approach for distributing workers’ compensation insurance online through retail agents. Dovetail has supplied agent portal, policy processing and back office systems to NetComp since the company was founded in 2010.
"Our focus has been on providing an efficient, seamless way for program managers to bring new insurance products to market. The addition of NetComp enables us to use the solutions that we have developed for the broader market, in-house," said Steve Francis, CEO, Dovetail Insurance. "NetComp provides a platform for us to better service our customers, as we create new innovations and enhance our solutions."
Both companies are based in Columbia, S.C. and backed by FirstMark Capital. NetComp will be run as an independent unit of Dovetail Insurance.
