American insurance broker Acrisure has bought SUNZ Insurance’s managing general agency (MGA) and third-party administrator operations for an undisclosed sum.
The deal is aimed at accelerating Acrisure’s ability to underwrite, package and distribute workers’ compensation and professional employer organisations (PEO) risk cover through its network.
Acrisure claimed that their combined capabilities will give deeper insight into workers’ compensation and PEO specialities.
The acquired units will bring speciality underwriting and claims expertise, ability to assess specialised risk scenarios and issue policy on behalf of clients, the broker noted.
Acrisure added that the SUNZ platform will also enable access to technology-powered distribution channels while reducing quoting and claims settlement times.
Acrisure co-founder, CEO and president Greg Williams said: “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.”
The deal includes a third-party administrator, Next Level Administrators; Watchpoint, a special investigation unit; Ascential Care partners, nurse case management and utilisation review; Avalon, claims subrogation; and Accelevant Premium Audit.
SUNZ CEO Steven Herrig said: “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.”
Earlier, Acrisure brokered a deal to buy Brazilian benefits management and insurance broking firm It’sSeg.