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 began using Torrent’s platform to access the NFIP.
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.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access