McDermott Represents USAA in its Acquisition of Noblr, Inc.
International law firm McDermott Will & Emery represented United Services Automobile Association (USAA), a leading provider of insurance, investing, and banking solutions to members of the US military, veterans, and their families, in its acquisition of Noblr, Inc. (Noblr), subject to regulatory approval. Noblr is a California-based insurtech firm offering smart car insurance using a phone application to reward its members’ good driving habits based on factors such as miles driven, time of driving and quality of driving.
The acquisition is expected to expand USAA’s offerings by adding a usage-based insurance option to USAA members. Usage-based insurance products combine usage and behavioral factors to create a pay-as-you-go personalized pricing. This acquisition should result in cost-savings benefits for USAA’s military service members who are highly mobile and frequently deployed.
This transaction was signed on June 9, 2021, and is expected to close this year, subject to regulatory approval.
McDermott Will & Emery acted as legal counsel to USAA.
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