Insurity, Inc., a Hartford, CT – based provider of cloud-based core system solutions and data analytics for insurers, brokers, and MGAs, completed the acquisition of Virtual MGA, an Austin, Texas- and London, UK-based provider of a cloud-based binding authority underwriting and distribution solution.
The amount of the transaction was not disclosed.
The deal, which closely follows the June 22, 2020 acquisition of Epic-Premier, further expands Insurity’s cloud-based core systems offerings for the managing general agent (MGA) and broker markets.
Led by Jake Hampton, president, Virtual MGA offers a cloud-based binding authority underwriting and distribution solution for the largest wholesale brokers, syndicates, and MGAs, with a focus on the Lloyd’s of London and US excess and surplus markets. Its tailored MGA rating, underwriting, and policy issuance solution combined with Insurity’s analytics, billing, and claims solutions will enable brokers and MGAs to expand their capabilities and services across the entire policy lifecycle with an integrated, end-to-end digital platform for all P&C standard and specialty insurance lines of business.