April 3, 2019 by Besurance Corporation
CALGARY, AB, APRIL 3, 2019 /insPRESS/ – Besurance Corporation (“Besurance”), a Calgary-based insurance and technology company, announces the successful completion of its acquisition of Fenchurch General Insurance Company (“Fenchurch”).
This acquisition will leverage Besurance’s digital platforms to innovate traditional insurance concepts to further strengthen Fenchurch’s competitive products and relationships with partners, brokers and customers.
“Besurance is fully committed to Fenchurch and its business”, said Minaz Lalani, FCIA, Chairman of Besurance. “We are investing significant capital and expertise in wellness technology, community insurance and the enhancement of insurance products by wrapping them in social technologies.”
Through its social insurance platform besure, Besurance identifies and closes the gap between the coverage consumers have and the protection they need. This approach encourages idea sharing, innovation and a participatory culture that enables Besurance to restore a community element to insurance.
“We are excited about bringing Fenchurch into the Besurance group of companies’, said newly appointed Chief Executive Officer of Fenchurch John Lewis, “Of particular value will be integrating Besurance’s technology into Fenchurch’s operations to enhance service to our brokers and their clients.”
Fenchurch will continue to operate from its office in Mississauga, Ontario and its products will continue to be distributed through respected third-party administrators, brokers and agents who share the vision of writing profitable business.
Besurance Corporation is an Alberta-based, privately-held insurance and technology incubator/innovator comprised of three work streams that include an MGA (AIME Financial), You 2.0 (Dynamic lifestyle underwriting through a health and wellness platform) and Besure (Software as a Service facilitating social insurance, peer to peer risk sharing and product incubation).
Fenchurch General Insurance Company, an Ontario-based insurance company, has established itself as an innovative provider of property and casualty insurance to less-served markets across Canada. Fenchurch provides custom tailored, cost-effective insurance solutions to a wide range of companies in today’s fast-moving and ever-changing business environment.
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