US-based life and health insurance distributor Integrity Marketing Group (Integrity) has received $1.2bn in investment to accelerate the growth of the insurtech platform.

The investment was led by Silver Lake, which will acquire a minority stake in the insurer and gain a seat on its board of directors.

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Integrity’s partnership with Silver Lake is aimed at accelerating the development and implementation of its omnichannel platform.

It is also expected to provide technology guidance and scale Integrity’s network of partners to drive innovation across the life, health, and wealth protection market in the US.

Integrity co-founder and CEO Bryan Adams said: “We are thrilled that Silver Lake has chosen to join us on our journey to innovate insurance and leverage our unique omnichannel distribution network. Silver Lake’s proven experience and expertise in digital transformation will help position Integrity to support Americans in protecting their life, health and wealth more than ever before.”

Integrity noted that its founders, management, and employees will continue to hold the majority stake in the company, with Harvest Partners as the largest stakeholder.

Integrity works with insurance carriers to develop new offerings and markets them through its distribution network across the US.

Integrity said it employs nearly 5,500 employees who work with over 420,000 agents and advisors to serve more than 10 million clients annually.

Silver Lake co-CEO Egon Durban said: “Insurance and wealth services are crucial components of the healthcare and financial markets — industries ripe for transformative innovation. We look forward to helping Integrity grow their already robust technology footprint and leverage their extensive data assets and unique distribution system to better meet consumer needs.”