Insurity secures PE investment to accelerate growth in P&C market
Insurity, a provider of cloud-based solutions and data analytics for property and casualty (P&C) insurers, brokers and MGAs, has secured a strategic growth investment from private equity firm TA Associates.
The investment aims to help accelerate the growth of Insurity’s cloud-native, configurable software and analytics platforms.
TA originally invested in Insurity in 2014, but sold it to its current investor GI Partners in 2019.
“We are thrilled to have TA renew their investment in Insurity,” said Chris Lafond (pictured), CEO of 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.”
Harry Taylor, managing director at TA, and Amit Jain, senior vice president at TA, said: “At TA, we have always seen Insurity as a company with outstanding growth potential. 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.”
Insurity Board members Travis Pearson, managing director and co-head of private equity at GI Partners, and Sendil Rajendran, director at GI Partners, added: “Our continued investment reflects our deep commitment to Insurity’s growth, and we look forward to collaborating with TA. In 2019, we invested in Insurity due to its differentiated cloud platform, relentless focus on customer success, and a leadership team that is committed to driving innovation in P&C insurance software.
“We have now seen Insurity launch new cloud-based software products, seamlessly deliver and implement them across the policy lifecycle, and enable P&C insurance carriers to quickly capitalize on new and emerging opportunities. Insurity’s products, strategy, and team make it well-positioned for further acceleration.”
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