Insurance Technologies Corporation (ITC) has acquired Assurance Systems, an insurance technology provider in the southeastern US.
Image: US insurtech Assurance Systems acquired by Insurance Technologies Corporation. Photo: courtesy of rawpixel / Unsplash.
Founded in 1986, Assurance Systems product offerings include AccuAuto, its auto insurance comparative rating system; AccuAgency, its agency management system; and AgencyThrive, its website platform.
The acquisition of Assurance Systems will extend ITC’s market share in the southeast within the Alabama, Florida, Georgia, Mississippi and South Carolina state markets.
ITC CEO Laird Rixford said: “Acquiring Assurance Systems is part of our overall strategic vision to provide nationwide rating for independent agencies, aggregators and insurance carriers.
“In addition, this acquisition will fuel growth of ITC’s website and management platforms.”
Through this acquisition Assurance System’s comparative rating users will benefit from TurboRater’s additional feature set that includes homeowners and motorcycle quoting, integrated digital agency marketing, advanced reporting, package policies, and extended carrier availability.
AgencyThrive customers will benefit from having access to the largest agency website platform Insurance Website Builder and ITC’s team of social media and search engine optimization experts.
Assurance Systems CEO Bob Capps said: “We’re excited about what this opportunity means for our customers.
“Assurance Systems and ITC have a mutual commitment to providing quality software and services. We also share a passion for helping agents and the carriers that support them become more productive, so they can compete and grow.”
Investment banking firm Morgan Partners represented Assurance Systems in the deal.
Source: Company Press Release