GRAND RAPIDS—Officials at Acrisure, a fintech company that operates a top-10 global insurance broker, announced the acquisition of the Managing General Agency (MGA) and Third-Party Administrator (TPA) operations of Bradenton, Fla.-based Sunz Insurance.
The entities acquired as part of the transaction include Next Level Administrators, a third-party administrator; Watchpoint, a special investigation unit; Ascential Care partners, nurse case management and utilization review; Avalon, claims subrogation; and Accelevant Premium Audit.
Officials of Acrisure said that with the company’s strength in workers’ compensation and professional employer organizations (PEO), the acquisition will accelerate the company’s ability to underwrite, package and distribute related risk premium through its global network of Partners. The MGA capability of Sunz, combined with Acrisure’s investment in artificial intelligence (AI), will give greater insight into the workers’ compensation and PEO specialties.
“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,” said Greg Williams, Acrisure co-founder, president, and CEO. “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.”
For Acrisure, the Sunz platform will bring:
- Underwriting and claims expertise in a niche segment
- Assessment of specialized risk scenarios and ability to issue policies on behalf of clients
- Access to technology platforms that integrate with distribution channels and expedite the quoting and claims settlement processes for customers
“The Sunz family of companies is proud to count ourselves as part of Acrisure,” said Steven F. Herrig, CEO of Sunz Holdings. “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.”
Terms of the transaction were not disclosed. Acrisure expects to make further related and complementary acquisitions in the near term.
Acrisure has grown revenue from $38 million to more than $3 billion in just over eight years and has locations in nine countries. Acrisure is the intelligence-driven financial services distribution platform of the future. Find out more at www.acrisure.com.