Insurance broker Acrisure has acquired AI-powered insurance platform Tulco with the goal of starting the deployment of “InsurTech at scale.”
The companies claims this is the case due to the combination of Acrisure’s global distribution and the AI expertise of Tulco.
This deal was a stock-for-stock trade which has resulted in Tulco becoming a “significant” minority shareholder in Acrisure.
Acrisure is using the Telco AI capabilities to increase its product development and insurance sales and marketing process across its portfolio of Agency Partners, a global network of commercial property and casualty, life and employee benefits brokerages.
Co-Founder, CEO Greg Williams said, “We’ve worked with the Tulco team for almost a year and our vision for Acrisure and the industry are completely aligned. Tulco’s world-class talent and ability to apply AI and intelligent automation is immeasurable as it relates to meeting the needs of our clients and transforming our company.
“We’re very pleased to be working with the entire Tulco team as we take this transformational step with like-minded entrepreneurs. I’m excited about what we will create together.”
Telco is an alternative investing platform which has created a number of technology-powered subsidiaries.
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