Global insurance brokerage, Marsh, announcedThursday that it had entered into a definitive agreement to acquireinsurance technology services provider, DovetailInsurance. The transaction is expected to close in thirdquarter of 2015.   

|

Based in Columbia, South Carolina, Dovetail's advancedcloud-based technology platform enables independent insuranceagents to obtain online quotes from multiple insurance providersand bind insurance policies in real time, on behalf of their smallbusiness clients. 

|

[Related: Marsh publishes hurricane preparedness and responsechecklist for risk managers]

|

"The addition of Dovetail is part of Marsh's global strategy toprovide expanded services to the small and medium-sized enterprise(SME) segment," said John Drzik president of Global Risk &Specialties at Marsh. "By combining Dovetail's advanced technologyplatform with Marsh's industry-leading data, distribution, andaccess to insurance capital, we will create an innovative onlineintermediation mechanism for the small commercial insurancemarket."

|

Upon closing, the entire Dovetail team, including management,will join Marsh as part of Marsh's Global Risk & Specialtiessegment.

|

"We are excited to join Marsh to accelerate our marketpenetration, and deliver a wider array of products to SMEs," saidDovetail CEO Steve Francis.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Trudy Knockless

Trudy Knockless is a reporter on ALM Media's Business of Law desk.  She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.