Challenger insurance broker hubb has acquired insurance technology provider Digital Fineprint (DFP) for an undisclosed sum.
Established in 2019, hubb is a usage-based insurance broker, underpinned by technology that provides all clients with a 360-view of their insurance policies.
In acquiring DFP, hubb will benefit from its focus on data and business intelligence and will be able to expedite the quotation process, providing a more bespoke service for its customers.
In addition, the broker will also now be able to provide risk insight to quoting insurers.
The DFP team will now merge with hubb personnel, with chief technology officer Ulrich Zink expanding his role across the whole business.
Mark Costello, co-founder and chief executive of hubb, confirmed: "This acquisition puts hubb in a unique position in the insurance market and allows us to offer more true value to our commercial and business owning clients.
"Moreover, it enables us to significantly expedite our plans to be the world's most transparent, technologically-advanced and customer-centric insurance business."
Zink added: "The DFP team are excited to become part of hubb and have been impressed with the business' commitment to customer-centricity and embrace the opportunity to deploy our technology to the benefit of those clients.
"We believe that the market is ready for true disruption and that usage- based broking is an inherently fairer way for business owners to arrange commercial insurance."
A member of FinTech Scotland, hubb operates from offices in both Glasgow and London and is currently engaged with regulators in other markets across Europe.
Over the last 12 months, the challenger insurance broker has experienced accelerated growth and plans to announce its next funding round within the coming months.
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