GI Partners has acquired Hartford, Connecticut-based Insurity Inc, a software platform for the property and casualty insurance industry. No financial terms were disclosed. Insurity was backed by TA Associates, General Atlantic and Genstar Capital.
SAN FRANCISCO, August 1, 2019 – GI Partners, a leading middle-market alternative asset manager, announced today that it has completed the previously announced acquisition of Insurity, Inc., the leading software platform for the Property & Casualty insurance industry.
Headquartered in Hartford, CT, Insurity provides policy administration, claims, billing, and data analytics software to more than 200 insurance clients. Insurity was founded in 1985 and deploys its policy administration software and full-service solutions to Property & Casualty markets, including global, national, regional insurance carriers, brokers, large MGAs, and municipalities and government entities, among others.
In partnership with the company’s senior management team, GI Partners plans to accelerate Insurity’s growth as the company aims to expand its leadership in policy administration and related software solutions and leverage GI Partners’ experience in driving organic and inorganic growth.
Travis Pearson, Sendil Rajendran, Sean Turner, and John Wang from GI Partners will join Insurity’s board of directors.
Insurity’s previous investors were TA Associates, General Atlantic, and Genstar Capital.
Insurity, Inc. offers innovative and flexible insurance technology that allows clients to meet their business goals and offer a simplified experience. With the market’s most advanced cloud operations, Insurity’s platform offers scalable, highly secure and reliable solutions that increase speed to value. Insurity’s solutions and deep understanding of the insurance business address the needs of all carriers – from the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information, visit www.insurity.com.
About GI Partners
Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised over $18 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.