Vertafore has acquired San Francisco-based Surefyre, a submission and underwriting workbench platform, to expand its AI capabilities and accelerate growth for MGAs.
Founded in 2017 by Alex Bautista and Dustin Lorres, Surefyre provides a cloud-based software platform for P&C insurance MGAs, wholesalers and carriers.
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The integration of Surefyre’s AI-enabled, low-code/no-code solution into Vertafore’s MGA ecosystem is expected to create a better quoting process and policy issuance.
Surefyre’s technology platform offers a fully configurable agent portal that supports the entire policy life cycle.
Additionally, the platform provides an underwriter workbench that rates and quotes specialty P&C business.
The AI-powered solutions include automated agent portal configuration, which accelerates speed to market, and other AI-driven features that streamline the submission and risk selection process.
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By GlobalDataSurefyre co-founder Bautista said: “Surefyre’s mission is to push the insurance industry forward with great technology.
“We are proud of our team and the impact the platform has had on our customers. Joining forces with Vertafore, an industry leader that shares our vision, is a perfect next step for our product and people.”
The acquisition of Surefyre allows Vertafore to deliver advanced automation and flexible technology solutions that MGAs need to remain competitive in this market.
Vertafore CEO Amy Zupon said: “We are intensely focused on empowering MGAs and wholesalers through technology. With the addition of Surefyre’s platform, we are setting a new standard for speed to market, operational efficiency and growth in the MGA space.
“This acquisition builds on the successful acquisition of MGA Systems two years ago and is a continuation of our deep commitment to supporting MGAs with technology that enables and powers their success.”
Vertafore, a North American insurtech company, provides solutions that facilitate end-to-end connectivity across the distribution channel.
Earlier this year, Vertafore announced that nine new insurtech companies and solution providers joined its Orange Partner Programme.
Encompassing 60 partners, the programme offers agencies, carriers and MGAs access to solutions and services that complement the Vertafore technologies they depend upon on a daily basis.
