Atlanta — Digital Insurance Inc. acquired 16 agencies or blocks of their accounts during the first half of 2008. This activity further bolsters the company’s expansion in this niche.
“Digital provides business segmentation and succession solutions for small firms and independent agents who want to sell, retire or focus on other business, but still care about the quality of service delivered to their customer base,” says Adam Bruckman, president and CEO of Digital Insurance. “After spending years building their small group book of business, some agents may have little opportunity to gain liquidity or retire with peace of mind. Digital’s eight-year track record of partnering with brokers and agents to efficiently manage their small group health insurance accounts uniquely positions us to acquire such business and continue delivering enhanced service.”
“As part of our growth strategy, we sold our small group accounts to Digital Insurance,” says Guy Morrison, president of Strategic Benefits Solutions in Alpharetta, Ga. “Our core capabilities and customer value proposition increasingly focused on employer groups with 100 to 5,000 employees. As a result, we needed to commit to, or transition out of, the small group segment. We searched diligently for a partner that could not only purchase this block, but also provide the service and commitment level that we required for our former small group customers. The transition went smoothly and customer retention has been surprisingly high.”
“The volume of business we’ve closed in a short period of time reflects a market need, as well as our aggressive efforts to identify agents and agencies seeking to transition their small group business,” says Bruckman. “We are presenting opportunities to sole proprietors who want a cash infusion or to sell their independent insurance agency, as well as brokers and financial planners who desire market differentiation, time to focus on core business or a segmentation strategy to grow upstream.”
Source: Business Wire
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