Acrisure, a fintech company that operates as a global insurance broker, has acquired the Managing General Agency (MGA) and Third-Party Administrator (TPA) operations of SUNZ Insurance, a specialist provider of workers’ compensation insurance.
Through the acquisition, Acrisure has purchased Next Level Administrators; Watchpoint; Ascential Care partners; Avalon; and Accelevant Premium Audit.
For Acrisure, it’s expected that the acquisition will bring underwriting and claims expertise in a niche segment; assessment of specialised risk scenarios and ability to issue policies on behalf of clients; and access to technology platforms that integrate with distribution channels and expedite the quoting and claims settlement processes for customers.
It’s hoped that with Acrisure’s strength in workers’ comp and professional employer organisations (PEO), the addition of these entities will accelerate the firm’s ability to underwrite, package and distribute related risk premium through its global network of Partners.
According to the company, the MGA capability of SUNZ, combined with Acrisure’s investment in artificial intelligence, will give greater insight into the workers’ compensation and PEO specialties.
Greg Williams, Co-Founder, Chief Executive Officer (CEO) and President of Acrisure, commented: “I’m extremely excited by this new Partnership and the possibilities it provides both companies as we build one of the largest financial technology companies in the market.
“This transaction enhances our ability to distribute into a variety of markets. Layering these new capabilities via SUNZ to our own AI platform opens exciting new growth opportunities.”
Steven F. Herrig, CEO of SUNZ Holdings, added: “The SUNZ family of companies is proud to count ourselves as part of Acrisure.
“Together, our combined efforts and unique systems and technology will create an even greater trajectory of growth and innovation. Joining Acrisure, one of the leading Fintech companies in the world, makes this next step truly exciting.”
