Transaction marks fourth acquisition for Sightway Capital-backed insurance company
Integrated Specialty Coverages (“ISC” or “The Company”), a General Agent that builds end-to-end insurance products, has acquired Access Partners Insurance Services, LLC (“Access Partners”), a multi-line wholesale broker. ISC is backed by affiliates of Two Sigma’s Sightway Capital. Terms of the transaction were not disclosed.
Headquartered in Sacramento, California, Access Partners offers a broad range of classes for insurance lines of all sizes with a focus on workers’ compensation. Access Partners provides customers with unique products offered by specialty carriers, combined with exclusive access to valuable insurance company and broker resources.
ISC is a technology-enabled General Agency that offers a fully integrated, end-to-end platform across multiple lines of business and industries. The Company uses sophisticated artificial intelligence (AI) technology and data analytics to deliver customized insurance programs for agents and brokers through a superior user experience, while driving low loss business for its carrier and reinsurance partners. ISC was founded by insurance industry veteran Matt Grossberg, who is supported by an experienced management team and a talented group of technology professionals with robust backgrounds in AI and data science.
“The addition of Access Partners adds important new carriers to ISC’s platform and broadens our workers’ compensation class eligibility,” said Mr. Grossberg. “We look forward to partnering with the Access Partners team and leveraging their broad expertise to expand ISC’s footprint in other growing business lines across the United States.”
Access Partners is ISC’s fourth acquisition since its founding in 2016. The Company acquired Paramount General Agency and Paramount Acceptance Corporation in April 2019 and Safebuilt Insurance Services (SIS) in July 2019. Through these strategic transactions, ISC has expanded its programs across multiple lines of business traditionally beset by high loss ratios, including commercial habitational and hospitality, long-haul trucking, and contractors, among others.
Source: Company Press Release