P&C insurance companies around the world are considering developing technology platforms in-house or upgrading them in some other way. Brown & Brown chose an acquisition to make this happen.
The broker announced in November that it had purchased the digital P&C insurance marketplace CoverHound and CyberPolicy, a small business subsidiary. CoverHound’s technology and culture were two big reasons for this decision, according to Steve Boyd, senior vice president of Technology, Innovation and Digital Strategy at Brown & Brown.
“Cultural fit is the most important criteria for us when evaluating an acquisition and we felt really good about the CoverHound team and we are excited about the contributions they will continue to make to the company. ‘future,’ Boyd told Carrier Management. “The second is the technology itself, which will help us accelerate the delivery of our digital agenda, allowing us to bring new products and solutions to market more quickly.”
Brown & Brown is …
- According to the source For brown and brown, the acquisition of CoverHound speeds up Tech Modernization efforts
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