Fort Worth, Texas (PRWEB) March 5, 2010
InsureZone, Inc. today announced that it has purchased 100% of the assets of CMS Agency, Inc. a wholesaler based in Las Vegas, Nevada. The transaction gives InsureZone, through its wholesale subsidiary AgentSecure, the opportunity to further expand its national platform in a number of western states by bringing new products and carriers to the existing agency partners of CMS. In addition AgentSecure strengthens its offering with each of its national and regional carriers. Terms of the deal were not disclosed.
The CMS office will remain in the Las Vegas area but the day-to-day operations will be managed from the InsureZone/AgentSecure service center in Fort Worth. After the acquisition, AgentSecure will have over 2,000 active agency members in 48 states around the U.S with offices in: Fort Worth, Texas, Atlanta, Georgia, Chicago, Illinois, Oelwein, Iowa, Las Vegas and Henderson, Nevada
"This acquisition is the first step in a growth strategy for InsureZone that we believe will result in the company reaching $100MM in premium over the next two years," said John Pergande, CEO of InsureZone. "We believe there are a substantial number of brick and mortar wholesalers around the country that cannot afford to invest the dollars needed to offer the ease of doing business that is required in today's competitive insurance marketplace. As a result we are actively looking to buy or partner with many different kinds of wholesale and agency operations."
Ed Gillman, President of InsureZone and founder of AgentSecure added, "InsureZone has the most efficient personal lines and small commercial sales and service center in the industry. We can leverage this technology to more efficiently transition acquired agencies into our platform, thereby increasing our lead and sales flow which benefits our carrier partners, new agency members and their insureds. The impact of using the InsureZone back office processes on a typical wholesaler or agency is that margins will more than double in the first year."
The other aspect of InsureZone's wholesale development strategy is to broaden its insurance offering away from just standard lines products. A recent technology contract signed by InsureZone will enable the company to offer Excess & Surplus lines insurance products along with the traditional standard lines. The InsureZone platform will be the first in the insurance industry to offer comparative rating for personal and commercial lines for both standard and E&S lines of business.
InsureZone is a provider of Insurance Technology Solutions for the insurance marketplace and its technology is current in use by over 17,000 insurance agents. InsureZone offers a complete suite of Technology Solutions from basic comparative rating for small agencies or those seeking a simple efficiency tool for their commercial and personal lines operation all the way to custom coded, enterprise solutions for carriers and large brokers. Founded in 1999, InsureZone's technology is currently in use across a broad spectrum of the insurance world from small and rural agents to enterprise-wide solutions for carriers, wholesalers, clusters and managing general agencies.