AI-focused insurtech Kaibridge, led by former Steadfast COO Nigel Fitzgerald and ex-AIG Australia CEO Grant Cairns, is up and running following the acquisition of Blend Insurance Solutions.

Mr Fitzgerald left Steadfast last July, flagging plans to pursue a personal business venture, and Mr Cairns joined him in October.

Accident and health specialist agency Blend launched in 2017 after taking on Beazley’s local A&H portfolio. Before the Kaibridge acquisition it was jointly owned by Steadfast and Fairfax.

Current Blend CEO Chris Newing joins Kaibridge as a co-founder and chief digital information officer. Mr Cairns assumes the dual role of co-founder and CEO of Kaibridge and CEO of Blend Insurance Solutions.

Kaibridge describes itself as “AI-native” and “digital-first” and says Blend will “act as the pilot for migration into a new legacy-free technology and operating environment”, delivering a market-leading experience for customers, capital providers and employees.

“The industry’s extensive technology debt and operational complexity is a significant and unnecessary barrier to providing the consistent customer service brokers deserve, which is readily solvable if you were able to redesign your operating model legacy-free,” Mr Fitzgerald and Mr Cairns say in a joint statement.

“We are excited to welcome Chris and the team as we are long-term admirers of what they have achieved. Blend provides the perfect platform to establish our vision of a better business environment for all stakeholders.”

Kaibridge says it has “unique access to investment capital and underwriting capacity” and expects to grow via further acquisitions and “attracting the industry’s top subject matter experts”.