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Berkshire Hathaway Specialty Buys Telematics and Travel Operations Company

With long-term strategy and customer service in mind, BHSI agrees to purchase Noel Group’s telematics-based MyAssist Inc. and Insure America LLC.

Berkshire Hathaway Specialty Insurance (BHSI) has announced plans to purchase MyAssist Inc. and Insure America LLC from Noel Group. The two systems will improve telematics and travel insurance offerings from BHSI.

[ More news from BHSI Berkshire Hathaway Specialty Adds Builders’ Risk Business. ]

MyAssist, Inc. is a personal assistance and telematics service provider that combines user preferences, locationware technology and mobile capabilities to help users organize and handle tough situations such as lost airline luggage or cancelled flights. Insure America LLC offers travel insurance specifically to travel agents and operators.

“The larger part of our companies is MyAssist,” says John Noel, chairman and CEO of Noel Group. “We will work diligently to provide MyAssist services to the insurance market, financial market, hospitality and travel.”

Noel will continue to head both operations. He plans to leverage the resources and large network of brokerage relationships at Berkshire Hathaway to grow them within the brokerage business.

“We are approaching potential acquisitions strategically and thoughtfully as we build our business for the long term,” said Peter Eastwood, president of BHSI, in a statement. “We believe MyAssist’s list of customers speaks volumes about the appeal of its products and the quality of its services.”

Kelly Sheridan is an associate editor for Insurance & Technology. Prior to joining InformationWeek Financial Services, she was a staff writer for InformationWeek and InformationWeek Education. Kelly has also written for trade publication Promo Marketing and a number of ... View Full Bio

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Becca Lipman
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Becca Lipman,
User Rank: Author
1/31/2014 | 9:14:56 PM
re: Berkshire Hathaway Specialty Buys Telematics and Travel Operations Company
Seriously! Buffett is well known for his aversion to technology, I remember his purchase of IBM raised a lot of eyebrows. What could be more technical than telematics!!
Nathan Golia
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Nathan Golia,
User Rank: Apprentice
1/28/2014 | 7:11:36 PM
re: Berkshire Hathaway Specialty Buys Telematics and Travel Operations Company
Interesting to see telematics and travel insurance mentioned together. We are getting closer to realizing a market where telematics devices enable short-term insurance contracts.
KBurger
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KBurger,
User Rank: Author
1/27/2014 | 9:36:48 PM
re: Berkshire Hathaway Specialty Buys Telematics and Travel Operations Company
If Warren Buffet sees opportunities in telematics, then it (they?) must be for real!
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