Stubben Edge Group has acquired Insurercore, a tech-focused insurance distribution platform headquartered in London.
The deal was completed on Dec. 2 and was announced by Stubben Edge CEO Chris Kenning at the company’s celebratory reception held at Lloyd’s. The event, which was attended by guests from the banking, insurance and investment industries, celebrated Stubben Edge’s 2022 results and revealed some of its plans for the coming year.
Insurercore, which was established six years ago, aims to connect the insurance market by linking risks with risk appetite. The platform currently has more than 4,600 insurance professional users. Through the platform, underwriters can clearly define their capacity and appetites, and vetted brokers can find and contact them through a bespoke search engine.
According to Stubben Edge, integrating Insurercore with its proprietary distribution platform will allow users to move from a listing and networking function and conduct transactional activities across a broad suite of insurance and non-banking services.
“We’re very excited to confirm the acquisition of Insurercore, which will improve connectivity between brokers and insurers,” Kenning said. “With the deal bringing an additional 4,600 brokers to the group, this combination creates one of the largest independent financial services distribution platforms in the UK.”
Stubben Edge has undergone extensive growth in 2022, with the launch of its end-to-end platform for business insurance and other financial services. According to Stubben Edge, it will continue to abide by its mission to help brokers and independent financial advisers (IFAs) digitise their businesses and give them access to individual and small- to medium-sized enterprise (SME) clients. This is delivered through an e-commerce platform which brokers and IFAs can link directly to their own websites.
“This deal has come at an incredible pace and brings amazing opportunities to accelerate our plans to grow the network and innovate new features that add value for our clients and users,” said Peter Clarke, managing director of Insurercore. “It was clear from early discussions with Chris that he saw how Insurercore could be aligned with what Stubben Edge is doing for entrepreneurial brokers and SME clients across the UK.”
