Columbus, Ohio-based State Auto Financial Corporation, a super regional property and casualty insurance holding company, announced it will sell its Strategic Insurance Software (SIS) subsidiary to NuGrowth Solutions, a software sales and development company also headquartered in Columbus.
SIS was founded in 1995 with the purpose of designing and selling agency management systems that allow independent agents to enter and process business directly with their company partners. NuGrowth has provided business development, sales and e-communications services to SIS since 2008.
NuGrowth CEO Greg Tillar said the decision to purchase SIS was grounded in their day-to-day work with the SIS product and people.
STFC Chairman and CEO Bob Restrepo said the sale of SIS to NuGrowth was a sound business decision on several levels. “SIS customers, many of whom are State Auto agents, will benefit from the singular focus of NuGrowth. SIS has built terrific agency management software products, but State Auto is an insurance company and that needs to be our singular focus.”
Restrepo added that the inclusion of the SIS staff was an important requirement of the sale for both parties.
NuGrowth, which was founded in 2000, partners with companies to accelerate sales performance, implement growth strategies and build equity.
Source: State Auto Financial Corporation, www.StateAuto.com
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