Peak6 InsurTech, the insurance operations subsidiary of Peak6, has signed an agreement to purchase insurance franchise firm We Insure for an undisclosed fee.
According to Peak6, the acquisition will build on its prior purchase of National Flood Services in 2018 and its pending acquisition of Team Focus to position Peak6 InsurTech as one of the nation’s leading providers of property and insurance products, with a growing distribution network of franchises across the US.
Peak6 remarked that We Insure – founded in 2009 – has evolved into one of the most trusted insurance franchise offerings in North America. The company grew over 55% last year and has doubled its franchise footprint over 2021.
In return, Peak6 InsurTech will strengthen We Insure’s carrier access, IT infrastructure and agency support model so that agents can focus on growing and retaining customer relationships across personal and commercial lines.
Peak6 InsurTech co-CEO Deb Franklin said, “Rooted in a shared understanding that agents power the insurance ecosystem, PEAK6 InsurTech and We Insure will be positioned to become an unstoppable force in the insurance industry. By combining our demonstrated expertise in insurance, technology and innovation with We Insure’s nationwide distribution network, we’re poised to deliver better value to customers as we rapidly scale our locations across the country.”
We Insure founder and CEO Philip Visali added, “This new relationship with PEAK6 will propel our ongoing strategy to offer outstanding support and growth opportunities for our franchisees. The massive distribution channel through our franchisees, combined with the capacity of its own products with MacNeill Group and Capacity Insurance (subsidiary of Team Focus), is what this industry really needs. We are excited to combine forces with PEAK6 InsurTech.
“Upon closing, our franchise owners will be able to leverage PEAK6 InsurTech’s advanced technology, niche carrier access, and back-end services as We Insure further accelerates growth and significantly expands its footprint nationwide.”
Copyright © 2021 FinTech Global