Travelers Acquires Insurtech Broker
U.S. insurance carrier Travelers in August 2018 acquired a reported 60% stake in Canadian insurtech broker Zensurance.
Based in Toronto, Ontario, Zensurance offers online commercial lines broker services and will continue to work independently. Founded in 2016, Zensurance creates segmented insurance packages for each industry. It says it has more than 2,500 clients in Canada and works with over 40 insurers.
Zensurance CEO Danish Yusuf and CTO Sultan Mehrabi keep just a little over a third of the company’s ownership.