Integrity Marketing Group, an independent distributor of life and health insurance products, has acquired Insurance Administrative Solutions (IAS) for an unknown sum.
IAS is a third-party administrator for insurance carriers.
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The company, with its team of over 300 employees, services over $500m in premium annually and administers over four million insurance claims for American families.
The integration of IAS with Integrity is expected to transform the insurance industry by creating turnkey end-to-end solutions for insurance carriers. As part of the deal, IAS president and CEO Doug Price will be an owner in Integrity.
Doug Price said: “When we looked for a partner to give us the bandwidth to support more carriers, there was no question Integrity was the best fit. With Integrity at our side, we’ll triple our growth rate and still do the exceptional job we’ve always done. The future of our business and our people has never been brighter.”
“We’ve worked with many of the Integrity partners in the past, and now to be their true partner and refine an entirely new way to service the carriers and policy holders is incredibly exciting. We’re just scratching the surface of what we can do together.”
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By GlobalDataIAS will leverage Integrity’s platform for new product development, IT, marketing, advertising, sales distribution and innovative technology solutions. Additionally, agents that work with Integrity platform partners are expected to benefit from the IAS partnership by gaining ‘world-class’ back office services.
Integrity co-founder and CEO Bryan Adams said: “Insurance Administrative Solutions is the best in the business at their craft, and Integrity recruits and supports agents selling and distributing more product than anyone else in the country.
“By working together as partners, we now have end-to-end capabilities to help carriers go to market quicker and more effectively. It’s truly a turnkey solution for carriers that cannot be found anywhere else.”
Earlier this year, Integrity acquired Equis Financial, an insurance marketing organisation that serves independent insurance agents and agency builders.
