Corpay Expands Lodging Business Into Insurance Vertical
Founded in 2001, ALE manages the lodging needs of policyholders displaced from their homes due to damage or catastrophe on behalf of property insurance carriers. The acquisition further extends Corpay’s specialized lodging solutions into the insurance vertical beyond its current workforce and airline verticals. Corpay expects an increase of approximately five million room nights per year and the addition of tens of thousands of long-term housing rentals upon completion of the ALE acquisition.
“ALE’s insurance solutions allow us to grow our lodging business into a new, adjacent vertical,” said Ron Clarke, chairman and chief executive officer, Corpay “ALE brings specialized capabilities to serve the insurance vertical, including: deep insurer relationships, a unique, long-term housing rental network, specialized technology that integrates into claims systems, and tenured housing experts that deliver outstanding service levels.”
“We are thrilled to join the Corpay team. With Corpay’s scale and resources, ALE can provide enhanced service, technology, and product development that will significantly benefit our customers and their policyholders,” said Rowena Zimmers, founder and president of ALE. “Corpay also has the financial and human capital to deepen our best-in-class service and strengthen our ability to meet the changing needs of our customers.”
About Corpay
Corpay (NYSE: CPAY) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The Corpay portfolio of brands help companies automate, secure, digitize and control payments on behalf of their employees and suppliers. Corpay serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.corpay.com
