Integrated Specialty Coverages, which is backed by Two Sigma’s Sightway Capital, has acquired Sacramento-based Access Partners Insurance Services LLC, a multi-line wholesale broker. No financial terms were disclosed.
HARRISON, N.Y., March 17, 2020 /PRNewswire/ — Integrated Specialty Coverages (“ISC” or “The Company”), a General Agent that builds end-to-end insurance products, has acquired Access Partners Insurance Services, LLC (“Access Partners”), a multi-line wholesale broker. ISC is backed by affiliates of Two Sigma’s Sightway Capital. Terms of the transaction were not disclosed.
Headquartered in Sacramento, California, Access Partners offers a broad range of classes for insurance lines of all sizes with a focus on workers’ compensation. Access Partners provides customers with unique products offered by specialty carriers, combined with exclusive access to valuable insurance company and broker resources.
ISC is a technology-enabled General Agency that offers a fully integrated, end-to-end platform across multiple lines of business and industries. The Company uses sophisticated artificial intelligence (AI) technology and data analytics to deliver customized insurance programs for agents and brokers through a superior user experience, while driving low loss business for its carrier and reinsurance partners. ISC was founded by insurance industry veteran Matt Grossberg, who is supported by an experienced management team and a talented group of technology professionals with robust backgrounds in AI and data science.
“The addition of Access Partners adds important new carriers to ISC’s platform and broadens our workers’ compensation class eligibility,” said Mr. Grossberg. “We look forward to partnering with the Access Partners team and leveraging their broad expertise to expand ISC’s footprint in other growing business lines across the United States.”
Access Partners is ISC’s fourth acquisition since its founding in 2016. The Company acquired Paramount General Agency and Paramount Acceptance Corporation in April 2019 and Safebuilt Insurance Services (SIS) in July 2019. Through these strategic transactions, ISC has expanded its programs across multiple lines of business traditionally beset by high loss ratios, including commercial habitational and hospitality, long-haul trucking, and contractors, among others.
About Integrated Specialty Coverages
Integrated Specialty Coverages (ISC) is a General Agency dedicated to underwriting excellence, client service, and customer experience. ISC has built an end-to-end insurance platform by connecting a broad network of insurance markets and distribution channels with proprietary data analytics capabilities. ISC uses sophisticated AI technology and analytics to revolutionize how complex programs are underwritten and operated. The firm was founded by Matt Grossberg who is joined by experienced professionals from all spheres of the insurance ecosystem. ISC’s strategy is focused on a combination of strategic M&A, data driven decision making, as well as an innovative means of delivery. ISC provides their partners high quality service, competitive commission, and creative product delivery options to help expand their footprint in any desired line or class of business.
About Sightway Capital, a Two Sigma company
Sightway Capital is a Two Sigma company focused on middle market growth equity investing in financial services and real assets. The company employs a principal mindset and flexible capital approach to building successful business platforms with experienced operators and strategic partners. The team at Sightway Capital thinks long-term, targeting business opportunities that afford both asymmetric risk rewards and enterprise value creation over time. The firm looks for opportunities in and around several industries where the team has significant experience and a network of long-standing relationships.
About Access Partners Insurance Services
As a wholesale broker, Access Partners has access to a number of carriers’ niche products. Access Partners is able to offer a broad range of classes for accounts of all sizes that will meet the needs of brokers and their clients. The Company also has an extensive database of unique products offered by specialty carriers, which offer focused products.