Zinnia, a life and annuity insurance technology and digital services company, has purchased Policygenius, a digital insurance marketplace.

The transaction expands Zinnia’s reach into digital distribution services, working to service carriers and distribution partners. Together, Zinnia and Policygenius will offer products and services spanning life and annuities, disability and property and casualty insurance. Zinnia will continue to offer Policygenius’ suite of online services under the Policygenius brand. KKR, through its technology growth strategy, was an investor in Policygenius and will remain an investor in the combined company.

“This strategic combination positions Zinnia and Policygenius to deliver great benefits for carriers and consumers, and we believe there is enormous unmet demand in the market for a seamless digital experience underpinned by a compelling, end-to-end insurance offering,” says Jake Heller, partner at KKR and newly appointed Zinnia board member.

Sidley Austin LLP and WilmerHale served as legal counsel to Zinnia. Latham & Watkins LLP served as legal counsel to Policygenius.