Global Indemnity Group announced that its subsidiary Penn-America Underwriters has completed the acquisition of Sayata, an AI-enabled digital distribution marketplace and agency operations platform for commercial insurance.
Global Indemnity Group said the acquisition complements the recent reorganization of Penn-America Underwriters to focus on agency and insurance services and will expand its distribution, product portfolio, and technology capabilities.
Sayata’s headquarters is in Boston, Massachusetts. The company also has operations in Tel Aviv, Israel, and offices in Houston, Texas and San Francisco, California.
Sayata’s AI-enabled digital platform promises seamless, efficient distribution of commercial property/casualty insurance products to help insurance professionals streamline operations and grow their books of business faster.
Penn-America Underwriters consists of three agencies: Penn-America Insurance Services; J.H. Ferguson and Associates, which includes the Vacant Express division; and Collectibles Insurance Services. It also now includes three insurance product and service businesses: Sayata, a marketplace for small commercial insurance; Liberty Insurance Adjustment Agency, Inc., a claims adjustment and claims service business; and Kaleidoscope Insurance Technologies, Inc., a proprietary insurance software and services provider.
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Topics
Mergers & Acquisitions
Commercial Lines
Business Insurance
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.