Global Indemnity Group, a New York–listed property and casualty insurer, has acquired Sayata, an Israeli AI-enabled marketplace for commercial insurance distribution, through its subsidiary Penn-America Underwriters.
While financial terms were not disclosed, market sources estimate the deal is worth tens of millions of dollars in cash and shares. Founded in 2017 by Asaf Lifshitz, Iddan Golomb, and Avishay Maya, Sayata provides a digital platform powered by AI-driven analytics to streamline commercial property and casualty insurance distribution. The platform is already used by thousands of insurance professionals across the U.S. to handle policy distribution more efficiently.
Key Highlights
The acquisition aligns with Global Indemnity’s strategy to modernize agency operations and expand into tech-driven distribution channels. It follows the restructuring of Penn-America Underwriters to sharpen focus on agency services and insurance solutions.
This move reflects a broader trend of traditional insurers buying technology companies to accelerate digital transformation, rather than developing AI capabilities in-house. Similar deals include Prudential Financial’s $2.35 billion acquisition of Assurance IQ and Digital Media Solutions’ acquisition of UE.co.
The urgency is driven by AI’s projected impact: Bain & Company estimates over $50 billion in annual economic benefits for insurers, with AI adoption already accelerating—79 percent of principal agents plan to use AI platforms within six months.
Also Read: Israeli Startups Set to Secure $6.25 Million in Incubator Funding
For Global Indemnity, acquiring Sayata provides immediate access to proven AI capabilities, helping it compete with larger rivals and capitalize on AI-driven growth opportunities in the insurance sector.
We use cookies to ensure you get the best experience on our website. Read more...
.jpg "Technology in Cancer Care: A story of evolving paradigms")
.jpg "Bringing Shop Floor to Manufacturer's palm: Smart Factory Solutions for tomorrow")
