Arch Insurance has acquired insurtech platform Thimble to expand its suite of digital solutions for small business insurance.
Thimble enables small businesses access to insurance coverage by the job, month, or year. Through the mandate, Arch aims to grow the Thimble platform and apply its digital practices across its network.
Arch Insurance is part of Arch Capital Group — a publicly listed Bermuda-exempted company that provides insurance, reinsurance and mortgage insurance globally through its wholly-owned subsidiaries.
Since its establishment in May 2018, New-York based Thimble has delivered more than 170,000 policies to small businesses across the US.
Thimble works with a variety of carriers including holding companies Markel and Employers, which it says it will continue to work with after the merger.
Commenting on the acquisition, Arch’s chief strategy and innovation officer Jay Rajendra says: “Thimble makes insurance easy. The Thimble team has created a best-in-class digital experience for small business customers and agents to acquire and manage insurance.”
