Nord Insuretech Group AB ("the Company") has signed a non-binding Letter of Intent (LOI) to acquire Sum-it AS, a Norwegian insurance distributor with a broad product portfolio and strong customer satisfaction.
The acquisition brings together the digital purchasing solution of Digisure, the Company's operating subsidiary, with Sum-it's personal customer relationships. Together, the aim is to offer customers a choice, a fully digital purchasing experience for those who prefer it, and personal advice for those who want it, backed by a broader product offering.
"This is an exciting pairing of two companies. Digisure's digital platform and Sum-it's loyal customer base and personal relationships position us to reinvent the customer experience for insurance products, both digitally and personally," says Kim Mikkelsen, Chairman of Nord Insuretech Group AB.
Together, Digisure and Sum-it will be one of the largest distribution partners of Eir Försäkring AB in Norway, with a combined insurance portfolio in excess of NOK 200 million.
"Joining forces with Digisure is very exciting. Combining Digisure's technology with our shared insurance provider and vision gives us the momentum to grow faster and more sustainably," says Jan Hugo Schenkel, CEO of Sum-it.
The transaction remains subject to satisfactory completion of due diligence, and execution of a definitive Share Purchase Agreement, and customary closing conditions. Further updates will be provided as the process progresses.
About Sum-it AS
Sum-it is a Norwegian insurance distributor with a broad product portfolio spanning vehicle, property and leisure insurance, recognised for high customer satisfaction and strong customer relationships.