InsureMyTrip acquired by Ignyte Insurance
The US travel insurance marketplace will continue to operate under its existing brand as part of Ignyte’s travel insurance portfolio
Ignyte Insurance, an insurance platform that acquires and develops insurance businesses, has purchased US travel insurance marketplace InsureMyTrip.
Founded in 2000 and headquartered in Warwick, Rhode Island, US, InsureMyTrip helps travellers compare and purchase travel insurance from multiple providers. The company said it had insured more than six million travellers.
InsureMyTrip will continue operating under its existing brand and through its network of insurance carrier partners. Ignyte said it planned to invest in the business, including in technology and operational resources, to support its growth.
The acquisition adds InsureMyTrip to Ignyte’s portfolio of travel insurance businesses, which includes ISO Student Health Insurance, Envisage Global Insurance, AllClear, InsureandGo, and International Student Insurance.
Geof McKernan, CEO of Ignyte Insurance, commented: “Travel is an important and growing part of Ignyte’s strategy, and we have been steadily building a portfolio of highly regarded businesses that serve travellers across markets around the world. InsureMyTrip is a natural addition to that portfolio. It has tremendous brand equity, long-standing carrier relationships, and a loyal and growing customer base built over 25 years. We see significant opportunity to invest behind that foundation and bring Ignyte’s resources and capabilities to bear to help the business accelerate its next stage of growth.”
Collinson International recently announced a partnership with Taiwanese insurer Cathay Life to provide policyholders with airport lounge access following flight disruptions.