MRI Software, a US-based software solutions provider to the real estate industry, has purchased Multifamily Insurance Partners for an undisclosed sum.

The acquisition will enable MRI Software to offer renters insurance coverage to clients who own and manage apartments.

Following the completion of the transaction, the acquired business will operate as MRI Multifamily Insurance.

The rebranded business will allow property owners and operators to implement resident insurance compliance programmes for apartment renters, enabling them to fill insurance gaps and reduce losses.

Commenting on the deal, MRI Software senior vice president of residential solutions David Carner said: “Acquiring Multifamily Insurance Partners enhances MRI’s comprehensive residential offering.

“It enables MRI to make resident insurance available as part of a single, fluid leasing and onboarding process that protects both property owners and residents.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Offering renters insurance via online portals gives MRI clients more options for creating a fully automated system that addresses the preferences and habits of modern renters; and a tightly integrated and intuitive insurance compliance program is crucial for property owners and managers to know their buildings are protected from any risk.”

Property managers and owners will be able to choose insurance either via MRI Multifamily Insurance or from its existing partners, according to MRI.

Multifamily Insurance Partners CEO Jim Sweeney stated: “Our clients will still benefit from our longstanding expertise and industry relationships, with the added benefit of MRI’s innovation, end-to-end offering and trusted position in the market.”

Multifamily Insurance Partners offers resident insurance programmes that have been implemented by more than one million apartments so far.