Insureon, an online insurance delivery platformfor small business owners, agreed to acquire online wholesaleinsurance broker and subsidiary of Willis Group Holdings, Insurance Noodle.

Following the acquisition, Insureon will expect to exceed $100million in total premium, giving agents and brokers increasedaccess to a larger portfolio of top-rated insurance carriers.

“We couldn't be more excited,” said Ted Devine, CEO of Insureon.“The acquisition will position Insureon to even better servesmall-business owners around the country. The combination ofInsureon's top-tier online strategy with Noodle's geographicallydiverse network of brokers/agents is a key component of ourlong-term strategy for growth. The acquisition reinforces thechange that technology is enabling in the small commercial buyingprocess.”

Operational efficiency is expected to improve for both companiesfollowing the acquisition, allowing Insurance Noodle's agents andbrokers to leverage Insureon's expertise via a proprietarytechnology platform and products that cover more than 550 industrysegments.

Overall, Insurance Noodle can better serve clients in the smalland micro business sector through Insureon's extensive resources.Noodle's agents and brokers will have increased access to carriers,products and vertical-specific expertise, improving their overallability to deliver customer service.

According to general partner of Accretive LLC, a New York-basedinvestment firm and Insureon's majority owner Edgar Bronfman Jr.,the acquisition will solidify support and commitment to the agentsand brokers in Insurance Noodle's network.

“Between Insureon's commitment to approaching every customerinteraction from a place of deep, technology-driven expertise andNoodle's extensive network of world-class independent and captiveagents, the nation's small insurance agents and brokers will havemore capabilities to serve clients and grow their businesses,” saidBronfman.

President and CEO of Insurance Noodle Ralph Blust will remainpresident and will have responsibility for oversight of wholesaleoperations for the companies. The Insurance Noodle team will joinInsureon's Chicago offices upon the closing of the transaction.