Arch Insurance 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.
Arch Insurance provides specialty risk solutions to clients worldwide across a wide range of industries. The company is on a mission is to provide its insureds with “superb coverage” and claims handling, through what the company describes as careful and diligent underwriting of risks and business-friendly solutions.
The acquisition, according to Arch, expands its suite of digital solutions for small business customers and brokers.
Since May 2018, Thimble 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, added, “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.”
Earlier this year, MagMutual Insurance Company, a provider of medical professional liability insurance, completed its acquisition of MDAdvantage Insurance Company of New Jersey.
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