Zinnia

Zinnia

Zinnia was created in late 2020 when Eldridge Industries, the holding company run by Todd Boehly, combined SE2 and Insurance Technologies to form a dedicated insurance software and services platform. Michele Trogni, a former UBS investment bank COO and ION Markets executive, was installed as Chairman and CEO. The firm is not a family office or direct investor, but rather an operating company that provides core systems to the North American life, annuity, and long-term care markets. Zinnia's product suite covers policy administration, digital distribution, and third-party administration. Its platform processes insurance products for carriers, brokers, and agents, handling the full policy lifecycle from onboarding through claims. The firm supports over 100 carrier clients and maintains a significant book of in-force policies following a series of acquisitions. Key transactions include the purchase of Breathe Life, a Canadian digital distribution platform, in 2021 to bolster its direct-to-consumer engine, and the acquisition of Policygenius's business-to-business technology assets in 2023. Geographically, its client base is concentrated in the United States, with additional reach into Canada. Backed by Eldridge, which holds stakes in Insurance Technologies, CAIS, and other financial infrastructure assets, Zinnia operates as a scaled roll-up. The firm employs over 2,000 people across offices in North America and India, according to its own disclosures. In July 2023, Zinnia acquired the institutional B2B technology and distribution business of Policygenius, folding in a team that builds embedded insurance tools for financial advisors and institutions, a move that deepens its distribution capabilities beyond legacy carrier relationships. Structurally, Zinnia sits at the intersection of private equity consolidation and insurance technology outsourcing — a hybrid that competes with legacy vendors like DXC Technology rather than venture-scale software startups. Unlike a typical InsurTech that originates risk, Zinnia operates as the infrastructure layer for the industry, positioning itself to capture recurring revenue from compliance-driven, slow-moving carrier IT budgets.