Squaremouth bought by Specialty Program Group
The US travel insurance comparison site has been acquired by Specialty Program Group (SPG), an operator of insurance brokers and underwriters
“Squaremouth is a growing industry leader when it comes to the use, convenience and efficiency of its digital travel insurance platform. Clients can get a quote, compare rates and purchase their coverage online and receive their policy immediately,” said Christopher Treanor, SPG’s President and CEO. “This aligns perfectly with our strategy to accelerate the scale and depth of our digital capabilities to keep pace with our clients’ needs.”
SPG said the purchase was the ‘latest move in its digital expansion strategy’, and would ‘affirm its position as a leading operator of specialty insurance brokerages and underwriting facilities’. The news follows SPG’s recent acquisition of other digital insurance platforms such as entertainment and sports-related insurance broker Insureon in July 2022, and professional liability insurance provider CM&F in October 2021.
Squaremouth announced the appointment of Rupa Mehta as its new Chief Executive Officer (CEO) last month. In response to the acquisition of his company, Mehta said: “Squaremouth has built an industry-leading insurance technology platform for travellers. We are excited to take our efforts to the next level with our partnership with SPG.”