The deal will create ’one of the largest independent financial services distribution platforms in the UK’, says chief executive
Insurtech Stubben Edge Group yesterday (7 December 2022) announced that it has purchased insurance risk appetite directory Insurercore.
The deal was formally completed on 2 December and announced by Stubben Edge chief executive Chris Kenning at the insurtech’s celebratory reception for its 2022 results, held at Lloyd’s of London.
Integrating Insurercore’s platform with Stubben Edge’s proprietary distribution platform will provide users access to broad-based transactional activities across a suite of insurance and non-banking services, said a statement.
Kenning added: “We’re very excited to confirm the acquisition of Insurercore, which will improve connectivity between brokers and insurers.
”With the deal bringing an additional 4,600 brokers to the group, this combination creates one of the largest independent financial services distribution platforms in the UK.”
Growing the network
Founded in September 2015, Lloyd’s Lab alumni Insurercore is a risk appetite directory providing a platform that underwriters can use to search for capacity and appetites that then links to a search engine, enabling vetted brokers to find and contact them.
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It has grown its user base of insurance professionals to more than 4,600 since the directory’s launch in April 2020.
Peter Clarke, managing director of Insurercore, said: “This deal has come at an incredible pace and brings amazing opportunities to accelerate our plans to grow the network and innovate new features that add value for our clients and users.
”It was clear from early discussions with Kenning that he saw how Insurercore could be aligned with what Stubben Edge is doing for entrepreneurial brokers and SME clients across the UK.
Stubben Edge has grown considerably through 2022 and now offers an end-to-end platform for insurance firms and other financial services.
Stubben Edge is continuing on its mission to help brokers and Independent Financial Advisers (IFAs) digitise their businesses and access individuals and SMEs with a full range of financial services products.
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