https://layoffcheck.com/companies/assurance Layoff and WARN notices reported for Assurance. en-us https://layoffcheck.com/companies/assurance#2024-05 https://layoffcheck.com/companies/assurance#2024-05-836 Wed, 01 May 2024 12:00:00 GMT Prudential Financial shut down Assurance IQ entirely in May 2024, laying off 112 Seattle-based employees with separations beginning July 3, according to a Washington state WARN filing. The closure represented a complete wind-down of the insurance technology startup Prudential acquired in 2019 for $2.35 billion. Assurance CEO Allison Arzeno told staff that a majority of the company's employees would lose their jobs. Caroline Feeney, Prudential's head of U.S. businesses, said the decision came after a careful review and that the company needed to focus on its core capabilities. Prudential had already taken cumulative goodwill impairment charges of more than $2 billion related to Assurance between 2021 and 2023. At its peak the company had around 1,700 employees; that figure had already been reduced to roughly 1,000 before the final shutdown. The collapse effectively erased one of the largest insurtech acquisitions of the 2010s.