Generali Global Assistance (GGA) has acquired Trip Mate, a US-based travel insurance company, from Arthur J. Gallagher for an undisclosed price.
Image: Generali Global Assistance acquires Trip Mate from Arthur J. Gallagher. Photo: courtesy of Generali Global Assistance.
Trip Mate, which is headquartered in Kansas City, Missouri, is a managing general agent in the tour operator travel insurance market in the US.
The company, which was acquired by Arthur J. Gallagher in August 2014, offers a range of travel protection plans and services for travel industry clients throughout the US.
It operates as an intermediary between insureds and market place, working with travel providers like tour operators to offer administrative services for claims, product design and underwriting along with claims handling service.
GGA said that Trip Mate’s acquisition continues the expansion of its travel insurance products and services in the US while helping it become one of the top travel insurers in the country.
Trip Mate will retain its brand but will now operate under the GGA companies in the US.
According to GGA, Trip Mate’s customers and partners will benefit from its global reach, scale and resources.
GGA, through the acquisition, is likely to benefit from new services, technology and process efficiencies. The company expects to launch all new products throughout the year owing to the transaction.
Generali Global Assistance US CEO Chris Carnicelli said: “Very simply, we focus on our customers and aim to provide the best possible customer service.
“From day one there was a cultural fit in Trip Mate, sharing a caring approach for our customers, and we believe that we can help the Trip Mate team by providing resources, leading technology and digital capabilities tailored for their customers.
“We are also very much looking forward to working with Trip Mate to enhance product features while providing international solutions for those clients who are looking to expand globally.”
GGA offers a range of travel insurance and emergency services, beneficiary companion services and identity protection solutions. The company also offers corporate solutions in the travel sphere apart from senior care and cyber security services.
GGA is a part of the Europ Assistance Group (EA), a provider of travel insurance and other assistance services since more than 55 years. EA, in turn, is part of the Italian insurance giant Generali Group.