Zurich acquires technology company for auto warranties

Zurich North America has bought Sea Pine Technologies, which makes digital applications for marketing of vehicle protection products.

The goal is to position Zurich as a leader in automotive finance and insurance capabilities and provide strong offers for auto dealers to offer car owners.

Kathleen Savio, CEO of Zurich North America shared, “This acquisition builds on our strengths by delivering competitive capabilities for us in North America and accelerates our delivery of innovative and valued solutions to our customers.”

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A company logo sits on a Zurich Insurance Group AG building in Zurich, Switzerland, on Thursday, August 6, 2015. Zurich Insurance is raising financing ahead of a possible takeover offer for RSA Insurance Group that could come as early as next week, according to people familiar with the matter. Photographer: Alessandro Della Bella/Bloomberg

Zurich began working with Sea Pine last year on a a pilot program targeting auto dealers testing Sea Pine’s new digital applications. Based in Dallas, Texas and launched in 2016, Sea Pine says it assists auto dealers by adapting their F&I products to the macro digital shift in consumer purchasing performance. The company leveraged technology to create a more modern and efficient buying experience, which improved customer experience and improved the growth of consumer demands for the products.

David Putz, head of Alternative Markets for Zurich North America shares, “Sea Pine’s technology further expands auto dealers’ ability to offer F&I products beyond the traditional point of sale. And, it provides car owners more educational resources and additional avenues to purchase vehicle protection products.”

“Our customer-led spirit of innovation that Zurich continues to foster as we apply customer insights to develop new ways to augment our own capabilities with companies ready to deliver innovative products and services that meet our customers’ needs now and in the future,” added Anurag Batta, head of Strategy, Innovation and Business Development for Zurich North America.

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