MAG SpA Group has bought the majority of start-up broker firm Neosurance.
A statement from the company said that it had acquired just over 50% of stakes. MAG said that the purchase would strengthen its corporate structure.
Neosurance enables the B2B2C distribution of innovative policies through digitization and hybridization of sales channels, partnering with non-insurance ecosystems, such as apps, platforms and digital properties of clients and partners of both MAG and Neosurance.
Pierluca Impronta, president of MAG, said: “The MAG Group has solid roots in the Italian business culture and promotes its values, with a constant eye on innovation. The digital transformation we are experiencing is also revolutionizing the insurance sector and I believe it is essential to play a key role in this new scenario.”
He added: “For this reason, this agreement with Neosurance represents an important opportunity that will allow us to be even more flexible and forward-looking, by meeting the protection needs of companies as well as individuals.”
MAG said the agreement will allow Neosurance to accelerate its growth on a global network of insurance and reinsurance players and distribution partners. MAG will push on digitisation, enabling new large-scale revenue and business models, complying with its consulting approach, which aims at responding to the needs of companies as well as individuals.
MAG claims to have over 8,000 business clients in almost 150 countries and more than 300m policies managed in Italy.
