B2Z Insurance is aimed at serving small business owners. Credit: Tim Mossholder on Unsplash.

US-based fintech firm and insurance broker Acrisure has announced the acquisition of B2Z Insurance for an undisclosed sum.

The acquired firm, which was established during the Covid-19 pandemic, is a digitally native company aimed at small business owners.

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B2Z uses third-party data and analytics to save time while binding policies and helping business owners answer time-consuming application questions.

Customers can get quotes, personalised coverage and review their coverage with a licensed customer experience advocate over the phone, text or chat.

For Acrisure, the deal bolsters its digital offering and complements its recent partnership with QuickInsured, an insurtech platform that offers personal lines policies.

Acrisure hopes to leverage B2Z’s capabilities to offer a more holistic suite of solutions while enhancing its fulfilment capabilities and customer experience.

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Acrisure co-founder, chairman and CEO Greg Williams said: “Acrisure is building a robust digital marketplace that makes it simple to transact across all of our lines of business.

“In that regard, B2Z is a tremendous fit as a leader in providing customized solutions to small businesses. I’m proud to welcome Kuldeep and the B2Z team to Acrisure!”

B2Z CEO and founder Kuldeep Malik said: “We are proud to help extend Acrisure’s unmatched relationships and technology capabilities. B2Z looks forward to joining Acrisure’s culture of collaboration and trust.”

In July this year, Acrisure acquired Catalyst Technology Group and ITS to strengthen its cyber services division.