News of the deal comes about a week after Coalition, a managing general agency, disclosed it had raised $205 million in venture financing, with a push into public markets among its future plans.
“Together, our companies will define the future of insurance by applying data and technology expertise to mitigate current and emerging risk, expand our insurance offerings to keep more businesses safe, and build a better experience for insurance brokers and their clients,” Joshua Motta, CEO and co-founder of Coalition, said in prepared remarks.
#Two sigma insurance quantified professional
In acquiring Attune, Coalition is getting an insurance producer licensed in 50 states through which brokers and customers have the ability to quote and bind businessowners, workers’ compensation, commercial liability excess, professional liability, and general liability policies in minutes for hundreds of small-commercial classes, the announcement noted.Ĭoalition said will it also offer its cyber insurance and its risk management tool Coalition Control through Attune and launch an expanded set of Attune’s insurance offerings over time. Neither Coalition nor Attune are disclosing financial terms, though a Coalition spokesperson disclosed the M&A move is “an all-cash transaction.” Powering Business Growth by Empowering Underwriting Two Sigma Insurance Quantified is an insurance technology business utilizing technology, data science, intelligent automation and. Attune has 150 people, who will become part of a company with 270 employees. Two Sigma Insurance Quantified, an independent affiliate of Two Sigma Investments, LP, is dedicated to being a partner to some of the most established companies in the insurance industry. At Insurance Quantified, you’ll collaborate with accomplished, motivated colleagues and innovative clients alike as we work to bring cutting-edge data science methodologies and tools to the insurance industry and further our vision of creating scalable growth and reduced risk for all stakeholders in the insurance value chain. Those firms jointly launched Attune as a startup in late 2016, and CEO James Hobson has been in charge since early 2017. Two Sigma, a New York-based hedge fund that uses sophisticated technology, has taken its analytical skills into insurance underwriting with Two Sigma Insurance Quantified.
Attune was a wholly owned subsidiary of Attune Holdings, LLC, a Delaware limited liability company, which is a joint venture among AIG Property Casualty U.S., Inc., Two Sigma Insurance Quantified, LP and Hamilton U.S.
0 kommentar(er)
