Marsh, an insurance broking and risk management company, has signed a definitive agreement to acquire Torrent Technologies Inc., a service provider to Write Your Own (WYO) insurers participating in the National Flood Insurance Program (NFIP).
The transaction is subject to customary closing conditions, and terms were not disclosed. The transaction marks an expansion of the existing relationship between the two firms. In 2013, Marsh
Torrent’s 100 employees will combine with Marsh’s existing flood insurance specialists and remain headquartered in Kalispell, Mont., to create a Flood Center of Excellence. The center will offer a suite of flood insurance products and services.
Torrent Technologies offers a suite of cloud-based technology applications that interface with WYO insurers and the NFIP, including real-time, paperless claims handling and web-based pricing tools, said Marsh.
