Insurity, a provider of cloud-based software for property and casualty (P&C) carriers, brokers, and MGAs has secured a strategic growth investment from global growth private equity firm TA Associates.
TA, along with Insurity’s current investor GI Partners, plan to further accelerate Insurity’s growth and expand the delivery of the P&C insurance industry’s most configurable, cloud-native, and intuitively analytical software platforms.
Founded in 1985 and headquartered in Hartford, CT, Insurity has built a team of nearly 1,500 team members globally. The team’s deep industry expertise and software offerings supporting the entire policy lifecycle have enabled it to build a strong customer base of P&C carriers, brokers, and MGAs. Insurity’s customers include 15 of the top 25 P&C carriers in the US and seven of the top 10 P&C MGAs. Insurity also leads the industry with more than 250 cloud-based customers, a 97 per cent customer retention rate, and over 50 go-lives in the past year.
With an original investment in Insurity dating back to 2014, TA executed a successful sale to GI Partners in 2019. Today, TA’s renewed commitment to Insurity’s growth is a testament to the company’s significant momentum and future direction.
“We are thrilled to have TA renew their investment in Insurity,” says Chris Lafond, CEO, Insurity. “In the past two years, we have built leading cloud-based and data-driven products, expanded our total addressable market, acquired eight leading companies, and onboarded 16 system integrator partners. Insurity is proud to work with over 500 customers. We are pleased to partner with both TA and our existing investor, GI, as they collectively provide us with greater access to resources to best serve the P&C insurance industry.”
“At TA, we have always seen Insurity as a company with outstanding growth potential,” says Harry Taylor, Managing Director at TA, and Amit Jain, Senior Vice President at TA. “They have built a comprehensive portfolio of offerings from underwriting to advanced data and analytics capabilities, along with a deep commitment to customer success. We are excited to partner with GI Partners and Insurity’s world-class team to help accelerate growth and expansion.”
Lazard is serving as the exclusive financial advisor and Kirkland & Ellis LLP is providing legal counsel to Insurity. Goodwin Procter LLP is providing legal counsel to TA.
