Insurity, a provider of cloud-based core system solutions and data analytics for insurers, brokers, and MGAs, has acquired Florida-based Epic-Premier Insurance Solutions.
Financial details about the deal were not disclosed.
The deal aims to strengthen Insurity’s position in the expanding managing general agent (MGA) market.
The acquired company provides comprehensive core system software solutions for MGAs, programme managers, and wholesale brokers. Its technology is designed to meet the unique needs of MGAs.
Combined with Insurity’s digital platform and cloud services, this technology will assist property & casualty professionals in streamlining their business operations across the entire policy lifecycle.
Additionally, it will accelerate the automation of both standard and specialty insurance lines, and offer the speed and agility required for the clients.
Carriers and brokers who manage MGA networks or intend to create MGA networks to broaden their market reach can leverage this solution, noted Insurity.
Insurity CEO Chris Lafond said: “Epic-Premier is a standout addition to Insurity’s already expansive suite of digital core system solutions, bringing capabilities specifically designed to support MGAs and adding substantial breadth and depth of market experience to our team.
“Together with our cloud expertise and wealth of data assets, we have greatly expanded our solution offerings for MGAs and are well-positioned for leadership of this market.”
Commenting on the latest development, Epic-Premier CEO Kevin Grimes said: “With Insurity’s cloud leadership and with the technological maturity of their digital platform, we are able to accelerate our transition to cloud and API-based architectures and deliver greater value to our clients.
“In addition, Insurity’s extensive client base and deep industry relationships will enable us to bring our solutions to a broader audience.”