Zensurance now licensed to operate in Newfoundland and Labrador

Zensurance has announced that it is now licensed to operate in Newfoundland and Labrador, expanding its insurance solutions business.

With this expansion, the insurance package provider now operates in nine provinces. The company was first licensed in Ontario in 2016, then in Alberta and British Columbia in 2017. Just last year, Zensurance secured approval to operate in Saskatchewan, Manitoba, and Nova Scotia, and earlier this year in New Brunswick and PEI.

“We are thrilled to be able to offer the most seamless and intuitive business insurance solutions across Canada. Business owners deserve a high-quality experience and a provider they can trust,” said Zensurance CEO Danish Yusuf in a statement.

Zensurance is a commercial insurance brokerage that utilizes an online platform to help start-ups and small enterprises secure business insurance. By using an online platform to manage the insurance needs of its clients, Zensurance aims to eliminate the traditional processes associated with commercial insurance.

Last year, the Travelers Companies acquired a majority stake – about 60% – of Zensurance’s issued and outstanding shares. Sources close to the matter have said that Travelers, at the time, paid about $16 million in the deal.

Read more: Travelers takes majority stake in Zensurance

At present, Zensurance works with over 50 insurance companies across Canada, designing insurance packages tailored for each specific industry, BetaKit reported. The company uses data analytics to curate and suggest insurance packages to small businesses.