Prudential Financial is set to add 17 million members to its base following the acquisition of online insurance start - up , IQ . The cash , debt and equity financing deal is valued at $ 2.35bn . The deal is part of a broader trend of large insurers increasingly betting big on new-age, Silicon Valley startups that are starting to disrupt the traditional insurance space. Assurance also uses machine - learning and data science to accelerate its application , and offers life , health , Medigap , home and auto cover . After the acquisition , the firm will operate as a wholly - owned subsidiary of Prudential .
Prudential Financial is set to add 17 million members to its base following the acquisition of online insurance start - up , IQ . The cash , debt and equity financing deal is valued at $ 2.35bn . Assurance also uses machine - learning and data science to accelerate its application , and offers life , health , Medigap , home and auto cover . After the acquisition , the firm will operate as a wholly - owned subsidiary of Prudential .