Insureon and Willis Group Holdings Announce Formal Closing of Insurance Noodle Acquisition

Broker/agent network Insurance Noodle joins small business insurance provider Insureon.

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Apr 01, 2014, 09:00 ET

CHICAGO, April 1, 2014 /PRNewswire/ -- Insureon and Willis Group Holdings announced today that the Insureon / Insurance Noodle transaction formally closed Monday, March 31, 2014. The two firms now combine to form the preeminent technology and broking platform to support captive and independent insurance agents around the country.

Insurance Noodle, the leading online placement platform delivering solutions for more than 6,000 agents around the U.S., now combines with Insureon's best-in-class specialized broking and technology capabilities for more than $100 million in business placed annually.

"We couldn't be more excited about the opportunity to provide solutions to the most important distribution channel in insurance: captive and independent agents," said Ted Devine, CEO of Insureon. "Having started as an insurance agent, I know the importance of having direct access to markets and easy-to-use, fast technology. Together, Insurance Noodle and Insureon offer best-in-breed solutions in both categories."

Through the Insurance Noodle platform, agents will have access to more than 20 insurance carriers, both admitted and non-admitted, as well as access to continually expanding tools and resources. The company plans to add two to three specialty market solutions every quarter.

Ralph Blust, President of Insurance Noodle, echoed Devine's enthusiasm for the transaction. "The combined capabilities of the two companies mean great opportunities for our agents around the U.S.," he said. "By combining Insurance Noodle's existing platform, which is built by agents for agents, with Insureon's proprietary technology, carrier access, and deep vertical expertise, we're providing agents with a wealth of new tools to enhance their already renowned customer service."

Insurance Noodle and Insureon share offices in downtown Chicago.

About Insureon

Insureon, the nation's leading online small commercial insurance platform, specializes in serving the fast-growing small-business sector, which includes the self-employed and companies with 25 or fewer employees, through online insurance applications and now industry-leading wholesale brokerage services. For more information, visit Insureon's website.

About Insurance Noodle

Insurance Noodle established itself as a pioneer in online quoting in 2001. Since then, it has provided independent and captive agents with online access to insurance products and services through a single-entry, multi-carrier, multi-line, web-based portal. Insurance Noodle was formerly a subsidiary Willis Group Holdings, plc. For more information, visit Insurance Noodle's website.

CONTACT: Betsy Gregg, 224-595-3323, [email protected]

SOURCE Insureon