US-based Insurity has revealed that private equity firm TA Associates is making an undisclosed sum of investment in it.
The investment will be used to ramp up Insurity’s cloud-native software and analytics platforms.
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Established in 1985, Insurity offers software solutions to property and casualty (P&C) carriers, brokers, and managing general agents (MGAs).
Insurity CEO Chris Lafond said: “In the past two years, we have built leading cloud-based and data-driven products, expanded our total addressable market, acquired eight leading companies, and onboarded 16 system integrator partners.
“We are pleased to partner with both TA and our existing investor, GI, as they collectively provide us with greater access to resources to best serve the P&C insurance industry.”
TA’s original investment in the company dates to 2014. It sold Insurity to GI Partners in 2019.
TA managing director Harry Taylor and senior vice president Amit Jain said: “They have built a comprehensive portfolio of offerings from underwriting to advanced data and analytics capabilities, along with a deep commitment to customer success.
“We are excited to partner with GI Partners and Insurity’s world-class team to help accelerate growth and expansion.”
Insurity claimed that its client base includes US’ key P&C carriers and seven of the top 10 P&C MGAs.
Last month, Insurity bought Maprisk to augment its geospatial analytic capabilities for an undisclosed sum.
Maprisk offers geospatial data and analytics to insurers via API and its web platform.
