Marsh to Acquire Dovetail Insurance
August 06 2015 - 9:00AM
Business Wire
Acquisition Provides Technology Platform to
Capitalize on Fast-Growing Small Commercial Market in US
Marsh, a global leader in insurance broking and risk management,
today announced that it has signed a definitive agreement to
acquire Dovetail Insurance, a leading provider of insurance
technology services tailored to the US small commercial market.
Terms of the transaction, which is expected to close in the third
quarter, were not disclosed.
Based in Columbia, South Carolina, Dovetail has developed an
advanced cloud-based technology platform that enables independent
insurance agents, on behalf of their small business clients, to
obtain online quotes from multiple insurance providers and bind
insurance policies in real time. The process enables independent
agents to deliver faster, better service and an expanded product
selection, while giving insurance providers access to a
state-of-the art platform for distributing their products.
“The addition of Dovetail is part of Marsh’s global strategy to
provide expanded services to the small and medium-sized enterprise
(SME) segment,” said John Drzik president of Global Risk &
Specialties. “By combining Dovetail’s advanced technology platform
with Marsh’ s industry-leading data, distribution, and access to
insurance capital, we will create an innovative online
intermediation mechanism for the small commercial insurance
market.”
Upon closing, Steve Francis, CEO of Dovetail, and the entire
Dovetail team, will join Marsh to help further drive its SME
strategy in the US. Dovetail will be part of Marsh’s Global Risk
& Specialties segment. Dovetail’s Mr. Francis added: “We are
excited to join Marsh to accelerate our market penetration, and
deliver a wider array of products to SMEs.”
About MarshMarsh is a global leader in insurance broking
and risk management. Marsh helps clients succeed by defining,
designing, and delivering innovative industry-specific solutions
that help them effectively manage risk. Marsh’s approximately
27,000 colleagues work together to serve clients in more than 130
countries. Marsh is a wholly owned subsidiary of Marsh &
McLennan Companies (NYSE: MMC), a global professional services firm
offering clients advice and solutions in the areas of risk,
strategy, and people. With 57,000 colleagues worldwide and annual
revenue exceeding US$13 billion, Marsh & McLennan Companies is
also the parent company of Guy Carpenter, a leader in providing
risk and reinsurance intermediary services; Mercer, a leader in
talent, health, retirement, and investment consulting; and Oliver
Wyman, a leader in management consulting. Follow Marsh on Twitter
@MarshGlobal, or on LinkedIn, Facebook, and YouTube.
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version on businesswire.com: http://www.businesswire.com/news/home/20150806005775/en/
MarshSally Roberts, 303-952-9453sally.roberts@marsh.comorLee Ann
Farwell, 212-345-1125leeann.farwell@marsh.comwww.marsh.com
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