Hub International has acquired the assets of CBIS, trading as In-Fi, an Atlanta-based insurtech company, for an undisclosed price.
Image: US insurtech company In-Fi acquired by Hub International. Photo: courtesy of rawpixel/Pixabay.
Founded in 2016, In-Fi serves financial institutions through a distribution platform which is said to leverage technology and automation to monetise high volume, low premium insurance placements. The distribution platform also establishes lead generation by fulfilment, service and renewal.
According to Hub, In-Fi focuses on optimising customer engagement within minutes and offers strong customer service supporting the company’s current strategy to establish a genuine connection with customers looking for personal insurance solutions.
In-Fi is engaged in building operational systems designed to sustain customer relations and make them come back year after year. The company is also working on identifying insurance service and risk management offerings in the market to tap into the strengths of financial institutions.
In-Fi claims that it manages the complete setup of its financial institution agency partners right from the beginning, including their legal and operational requirements. Essentially, it serves as a property management company for retail insurance agencies, handling all facets of the business.
In May 2018, In-Fi joined forces with Decisely Insurance Services, a benefits brokerage and HR services firm, to bring employee benefits for financial institution partners.
Hub, which is based in Chicago, is a global insurance broker that offers life and health, property and casualty, employee benefits, investment and risk management products and services. The company has more than 11,000 employees located across North America.
Earlier this month, Hub acquired Porchlight Financial, a Canada-based group retirement plan consulting firm, for an undisclosed sum. Porchlight Financial, which is located in Vancouver, helps employers and employees in getting better pension outcomes.
The company specialises in group retirement plan member advisory services, retirement lifestyle, income planning, and financial wellness programs.
Prior to the Porchlight Financial transaction, Hub acquired Cottenie and Gardner, a Canadian insurance broker, for an undisclosed price. Headquartered in Saskatchewan, Cottenie and Gardner offers government auto insurance, farming solutions and other personal and commercial insurance solutions.