Beach & Associates, the reinsurance brokerage arm of Acrisure, is to be rebranded as Acrisure Re and Acrisure London Wholesale, the company has announced.
The rebrand comes as part of Acrisure’s increasing focus on technology and artificial intelligence, and follows the recent acquisition of AI firm Tulco’s insurance assets.
Beach was originally acquired by Acrisure back in March 2018 from its former shareholders, which included private equity specialists Aquiline Capital Partners.
At the time, it was stated that Beach would retain its name, as well as its identity and approach under the new ownership, operating as an independent reinsurance advisory and transactional broking unit within the Acrisure group.
“Transforming our company has been a multi-year journey, brought full-circle with best-in-class artificial intelligence talent through our recent transaction with Tulco,” explained Greg Williams, Co-Founder, CEO and President of Acrisure.
“The new brand symbolizes our commitment to tech enabling every facet of our business and is an outward display of these intentions. In addition, re-branding Beach as Acrisure Re signifies how we intend to leverage the robust talent in our reinsurance division as it fully represents Acrisure in all markets,” Williams continued.
“Prior to the onset of COVID-19, Acrisure recognized the strength of a digital platform and we’ve spent considerable time and capital building a tier-1 tech team and deploying AI across the company. The pandemic and resulting changes to business, commerce, and society at large reaffirms this decision. Acrisure’s Agency Partners, employees, and clients are energized by the first opportunity to incorporate AI at scale across a leading distribution platform to accelerate organic growth.”
Grahame Millwater, a member of the Acrisure Executive team and Chairman of Acrisure Re, also commented: “Acrisure combines the strengths of a top brokerage and a leading tech company. Beach & Associates recognizes the power of going to market as Acrisure, which will create copious value across multiple industries using data and AI.”
Jason Howard, CEO of Acrisure Re, further stated: “We’ve only scratched the surface in what is possible. Concepts such as advanced underwriting algorithms with predictive modeling will completely change the game for our clients and partners. And through our evolution, we are proud to remain an employer of choice for market-leading talent seeking to translate data into insights for clients worldwide.”