Texas-based Insurance Technologies Corporation (ITC), a provider of websites, marketing, rating and management software and services, has acquired Assurance Systems Inc., an insurance technology provider in the southeastern United States.
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 into the southeastern United States, including Alabama, Florida, Georgia, Mississippi and South Carolina.
Through this acquisition Assurance System’s comparative rating users will be able to utilize 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 have access to ITC’s agency website platform, Insurance Website Builder, as well as ITC’s team of social media and search engine optimization experts.
“Acquiring Assurance Systems is part of our overall strategic vision to provide nationwide rating for independent agencies, aggregators and insurance carriers,” said Laird Rixford, CEO of ITC, in a statement. “In addition, this acquisition will fuel growth of ITC’s website and management platforms.”
“We’re excited about what this opportunity means for our customers,” said Bob Capps, CEO of Assurance Systems. “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.”
Based in Carrollton, Texas, ITC helps independent insurance agents and insurance carriers through its websites, marketing, rating, and management software and services. Its product offering includes Insurance Website Builder, AgencyBuzz, TurboRater and InsurancePro. Headquartered in Carrollton,
Investment banking firm Morgan Partners represented Assurance Systems in the deal.
Source: ITC
Topics Mergers & Acquisitions
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