Vertafore acquires Surefyre, expanding its AI capabilities to accelerate MGA growth and innovation

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Nov 04, 2024, 10:59 ET

MGAs to benefit from Vertafore's expanded solutions, accelerating speed to market, boosting revenue, and reducing costs

DENVER, Nov. 4, 2024 /PRNewswire/ -- Vertafore^® today announced that it has acquired Surefyre, an industry leading submission and underwriting workbench platform purpose-built to empower MGAs and wholesalers. This acquisition further strengthens Vertafore's industry leadership by adding Surefyre's AI enabled, low-code/no-code solution to Vertafore's already best-in-class MGA ecosystem of solutions.

The addition of Surefyre's solution will unlock even more potential for Vertafore MGA customers by adding a modern agent portal, a powerful underwriting workbench and flexible workflow automation that drives a faster and more efficient quoting process, saving hours of time issuing a policy.

Surefyre's technology platform includes:

A modern, fully configurable agent-facing portal that supports the complete policy lifecycle and enhances collaboration between agents and underwriters.
An underwriter workbench that enables MGAs to rate and quote specialty P&C business seamlessly across systems, driving efficiency and prioritizing the most profitable opportunities.
AI-powered solutions, including automated agent portal configuration to accelerate speed to market and additional AI-driven features to streamline the submission and risk selection process.

"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," said Amy Zupon, CEO of Vertafore. "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."

According to a 2024 Conning Strategy Study, the MGA market is experiencing significant growth, with more than 1,100 MGAs and program administrators writing premiums exceeding $100 billion annually in the U.S. By acquiring Surefyre, Vertafore is strongly positioned to offer the advanced automation and flexible technology solutions MGAs require to stay competitive and thrive in this dynamic market.

"Surefyre's mission is to push the insurance industry forward with great technology. We're 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. This acquisition creates exciting new opportunities for innovation and growth, allowing us to continue delivering best-in-class insurtech solutions together," said Alex Bautista, co-founder of Surefyre.

About Surefyre

Surefyre, headquartered in San Francisco, CA, was founded in 2017 by Alex Bautista and Dustin Lorres. The company provides a cloud-based software platform for Property & Casualty insurance MGAs, wholesalers, and carriers, empowering them to automate workflows and optimize operational efficiency. Visit surefyre.co.

About Vertafore

As North America's InsurTech leader for 55 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore's solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers. For more information about Vertafore, visit www.vertafore.com.

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SOURCE Vertafore, Inc.