Insurance distribution channel solutions provider
FSC is a provider of insurance rating and management systems to more than 6,500 customers including independent agents, brokers, insurance carriers and managing general agencies across the country.
“The acquisition of FSC demonstrates our ongoing commitment to delivering point-of-sale solutions that allow independent agents to increase revenue and efficiency by providing faster quoting and better service to their customers,” said Euan Menzies, president and CEO of Vertafore. “In addition, we are particularly pleased to address the need to increase agency sales productivity with the industry’s first sales management system, FSC Pipeline, which is uniquely designed to enable producers to manage their prospects and close business faster.”
FSC has a 30-year history of providing solutions for the agency market including personal lines rating solutions, insurance sales management, carrier website quoting, business-to-consumer rating and agency management systems. In addition, FSC provides a variety of rating, rate comparison, data aggregation and analysis tools, which enable carriers to offer the most comprehensive and competitively priced products to their agents.
StoneRiver Group is a holding company that owns several insurance services businesses, including StoneRiver National Flood Services, StoneRiver Insurance Solutions, StoneRiver RegEd, Emerald Connect, StoneRiver Pharmacy Solutions and Progressive Medical.
Vertafore’s acquisition is designed to enable the strengths of the two organizations’ insurance professionals to be better equipped for success, having greater product capabilities and increased access to the best-in-class solutions to improve their bottom line.
“This is an extremely positive move for the insurance industry, as both FSC and Vertafore are dedicated to helping advance rating workflow and connectivity across the insurance marketplace, driving independent agents to sell more business in less time,” said Paul Areida, president of FSC. “This acquisition will result in significant synergies that will expand the services we can offer to our customers by providing a larger network and expanded carrier inventory in more geographies.”
The deal marks the latest effort Vertafore has made in recent years to broaden its product offerings. In 2008, the company acquired producer lifecycle management provider
