P&C Technology
Following the transformation of the insurance industry through technologyArchive for M&A
Vertafore adds another product to its stable of agency offerings
Vertafore announced this week that it acquired Stone River FSC. Details of the transaction here. One interesting fact that I pulled out of the release is FSC’s dominance in California, Arizona and Nevada. Wondering if this is a capabilities play or if in fact that Vertafore was just hunting for new customers.
I noted Euan Menzies (CEO) comment that he was “particularly pleased to address the need to increase agency sales productivity with the industry’s first sales management system, FSC Pipeline, which is uniquely designed to enable producers to manage their prospects and close business faster.”
30 year old company. Hope the solutions are a bit more current.
Allstate Buys Essurance and Answer Financial
Allstate catching up on online distribution- expects to pay ~1B for Answer and Esurance. Did not know it, but Esurance gets 50% of premium from California, Florida, New Jersey and New York.
Link to article in WSJ here:
P&C Technology 