AgencyBloc, which provides an agency management system (AMS) for independent insurance agencies, has acquired quoting and enrolment firm FormFire.
Financial terms of the deal were not revealed.
The acquired entity provides a solution that streamlines the application process across different carriers and plan types into a single workflow across medically underwritten and community-rated small-group health plans.
The firm is said to have a customer base of more than 600 retail brokers and connectivity with health insurance carriers across 33 states.
Following the deal, FormFire will be integrated into AgencyBloc AMS to streamline the broker workflow.
The unified entity expects to expand its connections with carriers to facilitate information flow across a wider set of small-group quoting and enrolment stakeholders.
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By GlobalDataFormFire CEO Colin Ingram said: “We have seen the expertise that AgencyBloc brings to the table and it has been clear from the start that we are aligned in our shared mission to streamline operational processes for our broker and carrier customers.
“We are very excited to move forward with the team and for all that we will accomplish together.”
AgencyBloc, which serves more than 3,000 insurance agencies, provides them solutions including a purpose-built CRM, a commissions processing module, and an integrated marketing automation and sales pipeline tool.
The addition of FormFire’s quoting and enrolment tools is expected to help the company bolster its suite of solutions for health and benefits insurance agencies.
AgencyBloc CEO Adam Lewis said: “FormFire is a leader in digitising the health insurance quoting and enrollment process and we are very excited to bring their capabilities to our client base.
“This acquisition will allow us to better serve our broker clients and improve workflow efficiency. We are thrilled to work with the FormFire team and continue to build on our momentum in the industry.”
