Novacore Launches to Transform Specialty Insurance with Innovation at the Helm

As part of the continued evolution of NSM Insurance Group, Novacore debuts as an independent specialty insurance provider, harnessing cutting-edge technology, automation and analytics to drive performance, growth and transform niche insurance programs

CONSHOHOCKEN, Pa., April 22, 2025 /PRNewswire/ -- Today marks the official launch of Novacore — an independent, next-generation specialty insurance provider set to shape the future of specialty insurance — proudly building on the 35-year track record of NSM Insurance Group. Novacore's mission is bold and clear: Transforming insurance — for agents, carrier partners, clients and the future.

The launch follows the recent sale of NSM Insurance Group's U.S. commercial business to New Mountain Capital, a growth-oriented investment firm with over $55 billion in assets under management. Since 1990, NSM has built a reputation for delivering leading, industry-specific insurance programs through specialized underwriting and trusted carrier partnerships.

Novacore continues that tradition while signaling a dynamic new chapter. With more than 20,000 agent partners nationwide, a portfolio of 15+ specialty programs and a premier retail agency, Novacore is advancing with a future-forward focus on:

• Advanced technology, AI and automation
• Predictive analytics and real-time intelligence
• Scalable, innovative operations
• Underwriting excellence and organic growth
• Strategic acquisitions for long-term growth

"This is a defining moment in our evolution," said Aaron Miller, CEO of Novacore. "I'm honored to help lead this incredible team into a new chapter. We now have the opportunity to build on NSM's stellar legacy and take it to bold, new heights. Novacore is our chance to embrace innovation fearlessly, meet the market's evolving needs and blaze our own trail with a forward-looking mindset. The sky is not the limit — it's just the beginning."

Miller added, "Our goal is to become the most forward-thinking, agent-friendly MGA in the industry. We're investing heavily in technology, automation and data-driven tools to simplify how agents and carriers do business with us. By streamlining workflows and elevating the customer experience, we're creating a platform that delivers real value, drives sustainable growth and positions our partners for long-term success."

With strategic backing from New Mountain Capital, Novacore is positioned to scale its core programs in high-demand markets — while also acquiring and launching new complementary specialty brands that enhance its platform and capabilities.

"We're excited to support Novacore as it enters this next phase of growth with our resources and capital," said Robert Mulcare, Managing Director at New Mountain Capital. "Novacore is a market leader with outstanding fundamentals and visionary leadership."

Sean Donovan, Director at New Mountain Capital, added "We are committed to helping the company scale its platform, invest in technology and talent, pursue strategic acquisitions and unlock new opportunities across the specialty insurance landscape."

To support its rapid growth, Novacore is strengthening its executive leadership team with the addition of several seasoned insurance executives. Chase Clark has been appointed Chief Operating Officer and Chief Underwriting Officer, bringing deep industry expertise and a strong track record of driving underwriting excellence and operational efficiency. In this dual role, he will focus on delivering exceptional business outcomes and elevating program performance. Additionally, Phil Dwyer joins as Executive Vice President of Corporate Development, where he will leverage his extensive experience in strategic planning and M&A to guide Novacore's long-term growth strategy.

As Novacore rolls out its new brand throughout 2025, the company remains focused on becoming the most trusted, efficient and innovative partner in specialty insurance.

For more information about Novacore, visit novacore.com or follow us on LinkedIn.

About Novacore
Novacore is a leading specialty insurance provider with over $1.3B in premium, committed to transforming how niche markets are served. With a 35-year legacy, Novacore combines deep underwriting expertise, strong carrier relationships and a vast agent network to usher in a new era of innovation powered by technology, automation and data-driven insight.

Focused on complex and hard-to-place risks, Novacore partners with more than 20,000 agents nationwide to deliver customized insurance programs backed by top-rated carriers. The company manages a portfolio of 15+ high-performing, niche insurance programs across Property & Casualty, Accident & Health and Reinsurance — as well as its retail agency, NSM Insurance Brokers.

Headquartered in Conshohocken, PA, Novacore has 11 offices across the U.S. and employs over 350 insurance professionals.

To learn more, visit novacore.com or follow us on LinkedIn.

SOURCE Novacore