Travelers to acquire digital agency from Plymouth Rock

Travelers has agreed to buy Insuramatch, a digital independent agency, from Plymouth Rock. Terms of the deal, which is expected to close in the first quarter of next year, were not disclosed.

Founded in 2014, Insuramatch has operated autonomously from its parent Plymouth Rock, offering personal lines P&C coverage from a range of carriers using a "match score" based on inputs from customers to find the company that's the best fit. Travelers said that would continue that autonomous model when it takes over ownership of the company.

“InsuraMatch combines a sophisticated technology platform with extensive carrier relationships to create personalized online insurance shopping experiences for customers," says Len Mariani, SVP of National Markets for Personal Insurance at Travelers. "We’re looking forward to providing their knowledgeable staff and leadership team with the tools and resources they need to realize the full potential of their offering.”

Recent Insuramatch initiatives include the launch of a chatbot virtual agent and a partnership with the flood insurance insurtech Neptune Flood.

“We have been steadily building our business over the past several years and are excited to enter this next phase with the support of Travelers,” said Marc Buro, CEO of InsuraMatch. “Our talented team and proven technology, paired with Travelers’ expertise and financial strength, will enable us to continue our growth while enhancing the customer experience.”