Zurich acquires technology company for auto warranties
In Action Summary
Zurich has acquired U.S based Sea Pine Technologies, a provider of digital applications for marketing of vehicle protection products. This acquisition enables Zurich to position itself as a leader in automotive finance and insurance (F&I) capabilities.
The acquisition of 3-year-old start-up Sea Pine Technologies will allow Zurich to integrate an end-to-end experience for auto insurance customers, mechanics, and dealerships alike.
Sea Pine was launched in 2016 to assist auto dealers by adapting to an online environment. The company focused particularly on improving customer experience and increase insurance penetration by building vehicle protection product awareness.
Zurich has been working with Sea Pine on a pilot program targeting auto dealers testing Sea Pine’s new digital applications such as its Service Lane VSC app for dealership personnel. The app captured customer information and advised users on service plans that a given vehicle is eligible for. Dealership employees can then generate and send pricing quotes, brochures and videos through the app.
Kathleen Savio, CEO of Zurich North America encapsulated Zurich’s thinking after the acquisition which “builds on our strengths by delivering competitive capabilities for us in North America and accelerates our delivery of innovative and valued solutions to our customers.”