Are we going to see more consolidation across the insurtech sector in 2025? Possibly. Here’s the news from Bspoke Group, who are pleased to announce the acquisition of Colchester-based insurtech Arma Karma.
Arma Karma is a monthly insurance subscription for people who want a simple, flexible way to cover their valuable items, utilising unique technology which will serve to enhance Bspoke’s future and existing insurance offerings.
These opportunities include the ability to adopt Arma Karma’s seamless “plug and play” functionality for affinities and products within Bspoke Group, presenting significant growth opportunities through optimising the route to market, enhancing customer experience and delivery of operational efficiencies.
Ryan Gill, Chief Commercial Officer at Bspoke Group, said: “Arma Karma is a true disruptor in the insurance industry, filling a gap in the market to meet ever-changing customer needs. Ben and his team have not just built an innovative platform, they’ve tapped into new markets in new ways, harnessing the latest technology and meeting consumer demand for trust and sustainability with their established brand and B Corp certification.
“This is an exciting addition to Bspoke Group and we are confident that, with our infrastructure and expertise, the business can continue to go from strength to strength and scale, while also enhancing our capability and offering as a Group.”
Ben Smyth, founder and CEO of Arma Karma, expressed excitement about the partnership and the potential for further innovation and market reach.
“Joining forces with Bspoke Group marks a transformative chapter for Arma Karma,” he said. “This partnership amplifies our mission to deliver flexible, impactful insurance solutions, and together, we’re poised to redefine the customer experience across broader markets.
“With Bspoke’s extensive resources and shared commitment to innovation and sustainability, we’re ready to unlock new opportunities and take our offering to the next level.”
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