Zurich North America, a risk management and commercial insurance platform, has acquired a U.S.-based insurtech firm Sea Pine Technologies. It specializes in building digital applications for the marketing of vehicle protection products. With this acquisition, Sea Pine Technologies will be able to further expand its automotive finance & insurance (F&I) capabilities for auto dealers and customers.
Zurich North America CEO, Kathleen Savio stated that the company keeps investing in the businesses and customer segments where it sees more opportunities for excellence. She further said that the acquisition builds on the company’s strengths by delivering competitive capabilities for Zurich in North America and stimulates its delivery of innovative and valued solutions to the customers. Based in Dallas, TX, Sea Pine Technologies founded in the year 2016 and it has a range of proprietary digital applications that run beyond the traditional finance office. The company’s CEO Andrew Rosen pointed out that they are extremely thrilled to become a part of Zurich North America that fully focused on innovation and bringing real discernible value to its dealer network. In last year, Zurich started its relationship with Sea Pine Technologies on a pilot program with auto dealers testing its digital application.
As noted head of strategy, innovation and business development for Zurich North America Anurag Batta, Sea Pine acquisition shows Zurich’s customer-led spirit of innovation that it keeps fostering as the company deploys customer insights creating new ways to enhance its own capabilities with businesses ready-to-deliver innovative products and services which meet the requirements of Zurich’s customers. Currently, Zurich offers many services, ranging from commercial insurance, compliance resources, and reinsurance programs.