iA Financial Corporation Inc. has acquired 70 per cent of the shares of two Canadian companies specializing in insurance technology: Surexdirect.com Ltd and Surexdirect.com (Ontario) Ltd.
Surex, an Alberta-based property and casualty insurance distributor, combines online self-serve capabilities with experienced advisors.
Founded in 2011 and serving all of Canada, except the province of Quebec, Surex offers Canadian consumers the possibility of obtaining more than a dozen quotes from insurers through the Surex.com platform, in just minutes, for car, home and business insurance.
Deal a high strategic value for iA Financial
"The acquisition of this tech-enabled P&C distributor represents a high strategic value for iA Financial Group given its digital expertise, distribution capabilities and high synergy potential," said François Blais, executive vice–president, Dealer Services and Special Risks, at iA Financial Group. "It allows us to better serve our distribution networks across Canada and at the same time, improve the client experience by offering a broader range of financial products."
Surex has served more than 50,000 clients to date, processing over 60,000 policies annually, representing an annual premium volume of more than $130 million. The two co-founders of Surex, Lance Miller and Matt Alston, remain minority shareholders.
