July 8, 2021 by David Gambrill
Westland Insurance has acquired two digital brokerages in a move intended to expand its tech offerings to brokers, renters, and homeowners.
In the first of two deals announced Thursday, Agile Underwriting Solutions, owned by Westland, has acquired managing general agency (MGA) Exhale Insurance.
Founded in April 2019, Canadian-owned Exhale has adopted digital technology to deliver insurance products to their broker partners and customers. The approved Lloyd’s of London coverholder works with Lloyds syndicates to provide insurance to brokers and their clients.
“With the additional capabilities of Exhale’s technologies and capacity, Agile is positioned to be a market leader in the Canadian MGA space,” Brett Graham, president of Agile Underwriting Solutions, commented in a release. “Agile has enviable access to robust underwriting, data analytics, and actuarial expertise that truly sets it apart in terms of continued product innovation and competitive pricing approaches for Canadian brokers and their clients.”
Based in Nova Scotia, Agile began operations in 1995 under the brand name UCAI (Underwriting Contract Administrators Inc.). Its mandate includes helping brokers across Canada find coverage for challenging personal and commercial lines accounts and forestry operations. UCAI changed its name to Agile Underwriting Solutions in 2017.
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In a second deal, Westland Insurance acquired Nuera Insurance, a Calgary-based digital brokerage formed in 2015. Nuera offers home, auto, recreational, life and travel insurance. Of particular note, Nuera has formed partnerships with property management, real estate, and mortgage professionals to provide insurance to renters and homeowners.
“The acquisition of Nuera Insurance positions Westland as Canada’s top digital tenant insurance provider,” Jamie Lyons, Westland’s president and CEO, commented in a release.
For Nuera, the Westland acquisition provides the digital insurer with much broader scale, according to Braden Bosch, owner of Nuera Insurance. “I feel confident that Westland has the scale, innovative culture, and digital focus to continue Nuera’s exciting trajectory into the future,” he said.
Based in British Columbia, Westland has a national presence of more than 170 locations and more than 2,000 employees. The brokerage offers insurance for clients’ homes, cars, businesses, farms, and life insurance.
Feature image courtesy of iStock.com/ipopba