Seeman Holtz Property & Casualty (SHPC) has completed its 50th transaction by acquiring Boston-based insurtech firm Goji (formerly Consumers United).
Image: Seeman Holtz acquires insurtech platform Goji. Photo: Courtesy of Khotcharak/FreeDigitalPhotos.net.
Goji operates an online analytics and data-driven personal lines insurance distribution platform that matches clients’ needs with the right coverage at the best price through its integrated network of over a dozen national insurance carriers.
The company offers personalized, real-time, value-based insurance products designed to fit clients’ individual coverage requirements. Goji is a licensed insurance agency that writes policies for clients on behalf of insurance carriers in 41 states.
SHPC will incorporate Goji’s technology platform throughout its divisions and industry verticals to maximize operational efficiency, best address client needs, and increase production within its existing and future partnerships. Goji’s clients will receive an immediate boost with access to the 400+ carrier relationships and the 50 state agent licenses of SHPC.
This unique combination will also enhance SHPC’s ability to continue to expand its access to additional digital marketing channels and partnerships, cementing its position as a national leader in online digital marketing and customer acquisition.
Goji chairman and investor Matt Coffin said: “A rapidly growing technology-enabled agency platform with diversified product lines across commercial and personal lines is a winning formula.
“We look forward to continuing to help the business grow and expand.” Peter Breitstone, Goji’s CEO noted, “these are exciting times in the Insurtech space. The ability to leverage Goji’s proprietary technology platform across SHPC’s clients, carriers and partnerships will create opportunities not only for the existing business but also for future partners seeking to participate in the insurance technology revolution.”
Financial Technology Partners served as exclusive advisor to Goji on this transaction. Goji’s investors include Thayer Street Partners, Coffin Capital & Ventures, clients of Hudson Structured Capital Management (Hudson Structured), Village Ventures, and Five Elms Capital.
Vikas Singhal, Partner at Hudson Structured, said : “Fifty acquisitions in two years is a significant achievement and Marshal and Eric and the team at SHPC have proven their abilities to identify and integrate great agencies. This transaction is an important step in the digitization of insurance distribution and we are excited to continue to support the platform through its next phase of growth.”
In addition to serving clients as one of the nation’s premier Property, Casualty and Benefits Insurance agency, SHPC targets high-quality independent insurance agencies that are well positioned for geographic or specialty product expansion and growth throughout the United States.
With the addition of Goji, SHPC will expand its reach and continue to provide new and existing clients the best quality service while helping them protect their most important assets with the right insurance coverage, tailored to each client.
SHPC president Marshal Seeman said: “Completing our 50th acquisition is not only a significant milestone but also a testimony to our value proposition to potential sellers. We have become the industry leader in attracting acquisition partners who are interested in partnering with a fast-growing national insurance platform while continuing to grow their business. Goji is a big win for us. The culture is a great fit and the synergies and opportunities are extraordinarily complimentary. The Goji team will have an instant impact on our existing InsurTech platform.”
SHPC executive vice president and chief marketing officer Eric Holtz said: “Goji has developed a brilliant model of acquiring new clients by utilizing data, analytics, and online marketing, complementing our existing capabilities for servicing and selling additional products to existing clients.
“This unique combination will supercharge our business and further enhance our innovative focus on leveraging data and analytics to achieve operational excellence.”
SHPC offers all types of insurance, including:
- Homeowner’s
- Automobile
- Renter’s
- Private Client High Net Worth Personal Lines
- Umbrella Coverage
- Commercial Property and Casualty
- Commercial Auto Coverage, including Specialty Trucking
- Employee Benefits
- Human Resources
- Professional Liability Insurance, including Lawyers’ Professional Liability and Medical Malpractice Coverage
Source: Company Press Release