Digital underwriting and insurance distribution platform Ripe Thinking has had a majority stake in its company bought by private investment business Aquiline Capital Partners.
Established in 1998, Manchester-based Ripe offers coverage for specialty products such as caravans, boats and golf, alongside small business owner coverage. Customers who use ripe can build their own policy through an ‘optimised online journey’.
Aquiline intends to continue to work closely with the Ripe management team to continue and accelerate the build of a market-leading digital insurance distribution platform.
Aquiline CEO and chairman Jeff Greenberg said, “The way people buy insurance is changing. As more individuals turn to online platforms to purchase insurance, Ripe offers a simple process for buying policies online while still ensuring quality coverage at a good value. We believe that John, Paul, and their team have built a high-quality and scalable digital platform that can identify customer demands, and design and distribute products to address these efficiently. We are excited to partner with them through the next phase of their journey.”
Ripe managing director and founder John Woosey added, “We are excited to partner with Aquiline, whose deep understanding of the UK and global insurance markets, and their track record of supporting technology-enabled businesses will allow us to further develop our offerings to our customers and continue to build out our underwriting and distribution capabilities.
“This partnership is a testament to the work of our incredible team who have delivered our strong and consistent growth year after year. The investment will allow us to accelerate our ambitions for international growth while still effectively and efficiently serving our customers across the UK.”
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