Arch Insurance recently announced it has acquired Thimble, an insurtech platform for small business customers and agents.
Thimble enables small businesses “to quickly get insurance coverage by the job, month or year using its award-winning app, website, or over the phone.”
The acquisition “expands Arch’s suite of digital solutions for small business customers and brokers.” Since May 2018, Thimble claims it “has delivered more than 170,000 policies to small businesses across the United States.”
Thimble works “with a variety of carriers including Markel and Employers.” The Thimble team will continue “growing the business with its existing carrier partners and offer new solutions through Arch.”
Jay Rajendra, Arch’s Chief Strategy and Innovation Officer, said:
“At Arch, we’re always looking to expand our digital solutions and create new, easy ways to do business with us. Thimble makes insurance easy. The Thimble team has created a best-in-class digital experience for small business customers and agents to acquire and manage insurance. We’re excited about growing the Thimble platform and applying many of its digital practices across Arch to better serve our partners.”
Jay Bregman, Co-Founder of Thimble, said:
“We are delighted to join the Arch family. The entire Thimble team is looking forward to working with Arch and our existing carrier partners to grow the platform. I’m equally excited to see how our team’s digital experience can benefit Arch and its distribution partners.”
As noted in the update, Arch Insurance North America, “part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada.”
Business in the U.S. is “written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Property Casualty Insurance Company and Arch Indemnity Insurance Company. Business in Canada is written by Arch Insurance Canada Ltd.”
As mentioned in the announcement, Arch Capital Group Ltd. (Nasdaq: ACGL) is “a publicly listed Bermuda exempted company with approximately $15.6 billion in capital at Dec. 31, 2022.”
Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.”
As mentioned in the announcement, Thimble helps small businesses “acquire general and professional liability, business equipment, commercial property and other types of insurance coverage via a proprietary digital platform.”
Thimble works “with a variety of carriers to bring the best digital insurance solutions to small businesses, brokers and agents.”
