Miami-based private investment firm 777 Partners has snapped up Ensurem, an insurance technology and product distribution firm headquartered in Florida.
The deal consideration was not made public.
777 Partners principal Jorge Beruff said: “We’ve worked with Ensurem before and have followed their growth closely.
“Ensurem has quickly gained a reputation for being a change agent in the senior insurance market, and this acquisition underscores 777’s continued commitment to the creation of innovative insurance products.”
Ensurem provides Medicare Advantage, Medicare Supplement, vision, dental, hospital indemnity and final expense insurance. Its service suite also includes end-to-end solutions for carriers, such as product development and digital marketing.
Recently, the company launched its beta “cyber agent” technology. It is designed to offer customer needs analyses, product selection, as well as plan enrollment services online to the senior market.
Besides, the firm operates two contact centres with fully licensed insurance agents focusing on senior insurance offerings.
“Our vision is to provide Medicare shoppers with a more simplified shopping experience, allowing them to enroll their way whether that be online or by phone,”
Ensurem CEO and founder Dave Rich said: “777 Partners’ acquisition provides us with the capital needed to carry forward this vision, while also giving us access to additional resources to aid in future product development and technology advancements.”
Other developments in the area of US insurtech
Earlier this month, Colorado-based insurtech AgentSync raised $25m in a Series A funding round co-led by Elad Gil and David Sacks’ Craft Ventures, taking its valuation to $220m.
Last month, US-based trucking insurtech Koffie Labs raised $4.5m through venture financing.