Insurance brokerage Acrisure has continued its buying spree with the takeover of Ohio-based technology-enabled insurance agency QuickInsured (QI).
The value of the deal was not made public.
This acquisition will offer Acrisure access to QuickInsured’s proprietary digital sales platform, which is said to offer cost-effective and tailored insurance solutions to customers.
Acrisure initially intends to utilise the technology in order to support revenue growth in its Real Estate Services arm.
It will use the platform to offer personal line insurance policies to clients.
Plans are on to expand this capability across other verticals eventually.
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QI CEO Jerry Batt noted: “We have long admired Acrisure’s business model and focus on innovation and are excited to combine our technology to grow together.”
Acrisure co-founder, chairman and CEO Greg Williams stated: “QuickInsured is another important technology ingredient that will help streamline and simplify processes for our clients and sales professionals.
“We’re obsessively innovating ways to better serve our clients, while expanding products and services across all verticals. QI’s proprietary technology helps us do just that.”
The latest deal comes on the heels of Acrisure’s $725m raise in a Series B-2 Preferred Equity round, at a $23 valuation.
The firm specialises in insurance, asset management, real estate services, as well as cyber services.
In a span of over eight years, the firm is said to have increased its revenue to more than $3.5bn from $38m. It made several acquisitions so far in 2022.
Earlier this year, Acrisure bought managing general agency Appalachian Underwriters.