RISK MANAGEMENT

PCMI Announces Equity Investment from Equality Asset Management to Accelerate Growth

PCMI Corporation, Equality Asset Management | January 21, 2021

PCMI (Policy Claims Management International), a main supplier of administration software for the automotive, consumer and industrial warranty and service management markets reported its first equity investment from Boston-based growth equity firm, Equality Asset Management, and Chicago-based, First Analysis. Financial terms were not revealed.

PCMI offers a cutting edge set-up of software answers for policy administration, claims management, risk management and the financial management of insurance products. PCMI's clients incorporate driving unique hardware makers, outsider heads, self-overseers and guarantors who offer and oversee warranties, service contracts and other account and insurance products. Since beginning, PCMI's software has been utilized to direct in excess of 50 million strategies and cycle in excess of 23 million claims.

"In 2012, I saw the opportunity to introduce a modern, purpose-built software to a market that was underserved. Since then, we have worked tirelessly on our mission to build the most comprehensive administration platform in the market. Our passion for technology and commitment to continuous improvement has led us to become a leader in our industry," said Mark Nagelvoort, President & CEO of PCMI. "Equality Asset Management has a track record of investing in SaaS based companies within high growth markets and can provide operational expertise that will allow us to accelerate our growth initiatives. Their support will be invaluable as we continue to make innovations on our platform and expand product capabilities to meet the evolving business needs of our customers. I'm thrilled we have them as a trusted partner as we enter this exciting new phase of our journey."

"Mark and the leadership team and employees of PCMI have built a remarkable company. Their focus on product, deep understanding of their customers and markets and culture of innovation have been core to their success," said Jeff Del Papa, Co-Founder and Managing Director at Equality Asset Management. "The market for warranty administration software is in an attractive upgrade cycle and PCMI is very well positioned with a complete, modern platform. We're excited to work alongside this experienced team and to support PCMI's expansion."

"PCMI is the demonstrated category leader, consistently delivering essential, high value solutions to customers. As consumer demands evolve, the need for flexible software will continue to increase across the F&I value chain," added Oscar Loynaz, Vice President at Equality.

With this investment, PCMI will proceed with its emphasis on item extension and client acquisition in North America and internationally.

About PCMI Corporation
PCMI offers a modular package of software solutions for the administration of F&I Products, Service Contracts, and Extended Warranties. PCMI's SaaS platform, Policy Claim and Reporting Solutions™ (PCRS), supports and automates the full lifecycle of all aftermarket products and provides the most flexible environment for administrators, insurers, OEM's, agents, and dealers to launch new products. Our global team enables continuous around-the-clock innovation and customer-focused support.

About Equality Asset Management
Equality Asset Management is a growth-focused private equity firm. Equality provides equity capital and strategic and operating support to companies with long-term growth potential in the technology and tech-enabled healthcare sectors. With decades of investment experience and operating experience, the firm has earned a reputation for value-creation, serving as steadfast partners to Founders and CEOs. Equality is based in Boston.
First Analysis went about as the elite financial advisor to PCMI for the exchange. Winston and Strawn LLP went about as legal advisor to PCMI. Goodwin Procter LLP went about as legal advisor to Equality Asset Management.

Spotlight

Founded in 2012, Heritage Insurance had a distinct DNA… identifying opportunities, assessing fit, and then making quick decisions. As a start-up, Heritage Insurance realized that it required technology that could support its appetite for growth and efficiency. Heritage required a solution that would give them the full spectrum of insurance functionality, beginning to end, yet also be deployed on the Cloud.

Spotlight

Founded in 2012, Heritage Insurance had a distinct DNA… identifying opportunities, assessing fit, and then making quick decisions. As a start-up, Heritage Insurance realized that it required technology that could support its appetite for growth and efficiency. Heritage required a solution that would give them the full spectrum of insurance functionality, beginning to end, yet also be deployed on the Cloud.

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