The acquisition expands the group’s offering to freelance professionals
Kingsbridge Group has completed the acquisition of insurtech firm Dinghy.
Kingsbridge specialises in cover for contractors, freelancers and the recruitment and utilities industries, while Dinghy markets on-demand professional indemnity cover, particularly for freelance professionals in the gig economy.
As well as PI cover, Dinghy also offers equipment cover, public liability, legal expenses and cyber liability - all delivered and managed through a mobile-first website.
Kingsbridge, backed by private equity firm Dunedin, last year also acquired Larsen Howie, a specialist online provider of insurance and IR35 and tax related products and services.
A spokesperson for Kingsbridge said the acquisitions were expanding the group’s distribution, products, services and geographic reach. Kingsbridge already provides insurance packages to almost 50,000 customers in the contractor industry.
Commenting on the acquisition, James Twining, Kingsbridge Group chief executive said: ”The acquisition of Dinghy further broadens our ability to reach into an even wider segment of the important creative and ‘gig’ markets where freelancers demand a different approach to insurance and an improved user experience.
“We are delighted to welcome the Dinghy team into the Kingsbridge family and are very excited to deliver the next phase of growth that they and the Dinghy platform, will deliver for us both in the UK and internationally.”
Ben Wilks, co-founder of Dinghy, added: “We are delighted to have joined forces with Kingsbridge, who are known as one of the largest and most successful players in the contractor insurance market.
“The combination of Dinghy’s unique flexible product and technology platform and Kingsbridge’s marketing and commercial strength, will enable us to improve our offering to our existing customers and significantly accelerate our growth plans.”
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