instaCOVER, an insurance agency and technology platform, has been acquired by One80 Intermediaries to offer specialized insurance for leased and financed equipment.
BOSTON–(BUSINESS WIRE)–One80 Intermediaries, a specialty insurance broker based in Boston, has announced its acquisition of instaCOVER. The independent insurance agency and technology platform specializes in providing point-of-sale insurance for commercial equipment, healthcare, rental equipment, and other markets. The terms of the acquisition have not been disclosed.
instaCOVER offers customizable insurance programs, including insurance for financed equipment, titled vehicle protection, rental waivers, non-financed/owned equipment, medical equipment, digital radiography insurance, digital radiography warranties, and digital radiography service contracts. These coverage options are available at the point of sale or lease, with rates established for the duration of enrollment, regardless of claims activity.
Moreover, instaCOVER provides a web-based platform that simplifies the process of obtaining insurance quotes and binding policies. The platform offers flexibility in creating and customizing insurance solutions for brokers and clients.
One80 President Matthew F. Power expressed his admiration for instaCOVER’s innovative platform and insurance solutions. He also highlighted the company’s expansion into the leasing industry and its continued support for instaCOVER at the intersection of technology and commercial insurance.
Colleen Shelby, Managing Director of One80 Intermediaries, stated that instaCOVER’s team has excelled in making insurance effortless since its inception. She believes that joining the One80 platform will enable them to develop tailored solutions for funders, brokers, manufacturers, dealers, distributors, and rental houses. Shelby expressed excitement about the merger.
About One80 Intermediaries
One80 Intermediaries is a privately held firm with offices in the US and Canada. As a leading insurance wholesaler and program manager, the company offers placement services and binding authority for various insurance coverages, including property & casualty, professional and personal lines, life insurance, and travel/accident and health insurance. With expertise in medical stop loss, cannabis captives, alternative risk, warranty coverage, and lender-based insurance, One80 serves commercial companies, non-profits, public entities, individuals, associations, and unions. The company has access to major insurance markets in the US, Canada, and the UK, and it operates in over 40 locations across North America. For more information, visit www.one80intermediaries.com.
Lenika P. Milne