Unitas Financial Services | September 27, 2021
Lenders Service Corporation (LSC) is excited to announce its merger with Unitas Financial Services (Unitas) whose mission is to provide the nation's simplest portfolio protection to lenders and real estate investors across the country. LSC is a licensed Managing General Insurance Agency that has served the insurance needs of the lending community since 1981. Unitas, pronounced [YOO-ni-tahs], is a Latin word that means "Oneness or Unity". The merger with Unitas serves to provide an even broader range of highly specialized lender and real estate investor protection programs to all clients, backed by exceptional customer service.
The merger of LSC with Unitas brings together a total of 14 insurance carriers and 510 clients across 30 states. LSC is based in Louisville, KY, and Unitas is based in Dublin, OH with offices in Debary, FL, and representatives across the United States. The merger builds upon the "customer first" service philosophy that has guided both companies to success. Clients will also have access to a robust range of new products, including insurance tracking, mortgage settlement solutions, blanket mortgage, blanket consumer protection (VSI), blanket equipment coverage, and more.
In addition, the merger between LSC and Unitas brings unmatched claims handling experience, better coverage for lenders, and a depth of leadership and staff experience that is unmatched in the industry. Previously, LSC had acquired the Financial Products Division of Assured Partners NL, LLC's Lexington, KY office. The merger with LSC is a clear signal of Unitas's dedication to the lender protection market, as well as its commitment to provide the most up-to-date and innovative products, services, and concepts in financial institution coverage.
With the talent, industry knowledge, and carrier access that comes with our combined organizations, we will be able to provide our clients with a more diverse, creative, and comprehensive lineup of products and services. We cannot say thank you enough for your loyalty to our agency over these last 40 years. We will continue to work hard in earning that loyalty as we move into the future as a part of the Unitas family.
- LSC President Gary Criscillis
Unitas was formed in 2020 when Golden Eagle Insurance, founded in 1995, merged with Innovative Risk Solutions, founded in 2005. Unitas provides portfolio protection services for lenders, such as vendor's single interest (VSI), blanket mortgage hazard, blanket commercial equipment, collateral protection insurance (CPI), lender-placed hazard and flood coverage, loan default coverage (Protequity), tax tracking, guaranteed asset protection (GAP), as well as portfolio protection for real estate investors. Lenders in the property and automotive sectors will benefit from a combined 82 years of industry experience from LSC and Unitas. The merged companies will be in a strong market position to offer their services to lenders and real estate investors going forward.
Majesco | June 17, 2021
Majesco, a global leader in cloud insurance software solutions platforms, announced today the completion of its acquisition of Utilant LLC, a U.S.-based InsurTech company that offers the industry-leading survey management SaaS product suite for Loss Control and Premium Audit surveys, as well as artificial intelligence (AI)/machine learning (ML) data and analytics.
Utilant's cutting-edge SaaS solutions, contributory database, and AI/ML models provide the required next-generation technology to address important insurance trends and keep up in today's digital race. This acquisition broadens Majesco's extensive product offering and adds approximately 87 new clients in the P&C sector, including global insurance carriers and top risk engineering companies.
Majesco is launching an innovative Data and Analytics business unit with this acquisition, merging Utilant technology with Majesco's current, market-leading data and analytics offering. Patrick Davis, Founder and CEO of Utilant has joined the Majesco Senior Leadership Team and will lead this new business. With proactive risk management, the new service expands Majesco's digital capabilities, creates operational value for insurers, and ultimately enhances customer experience.
According to Adam Elster, CEO of Majesco, "the recent pandemic has pushed the timeline for insurers to implement essential technologies like AI/ML, digital core platforms, and data and analytics." "We are excited to provide our customers with advanced, embedded data and analytics capabilities, as well as next-generation insurance SaaS products that can provide them with a competitive edge, improve underwriting profitability, and accelerate their digital transformation journey."
Utilant's financial advisor was Raymond James & Associates, whereas Majesco's financial adviser was Nomura Securities International, Inc., and Majesco's legal advisor was Sheppard, Mullin, Richter & Hampton LLP.
Majesco is the leading software partner for the P&C and L&A insurance industries, helping them to modernize, optimize, and innovate at scale. Majesco's next-generation SaaS platform solutions of core, data and analytics, digital, distribution, absence management, and a rich ecosystem marketplace of established and InsurTech partners are used by over 330 insurers, ranging from greenfields, start-ups, and MGAs to the largest insurers, reinsurers, and brokers, to build the future of insurance.
Our technology, expertise, and leadership assist insurers in innovating and connecting to create their business's future. We have an incredible track record of innovation and real-world results, with over 825 successful installations and over 65% of our clients on Cloud with Majesco platform solutions.
High Street Insurance Partners | January 24, 2022
High Street Insurance Partners ("HSIP") announced its December acquisition of Insurance Services Group (ISG), a full-service, regional insurance brokerage firm. ISG is headquartered in Washington and serves clients in 12 states, with a large concentration in the West.
"This acquisition represents our continued expansion in the West, With the addition of ISG, we can assist a greater number of clients with a full spectrum of insurance needs."
-Scott Wick, CEO of HSIP.
"We are excited to join HSIP. Their vision aligns perfectly with ours; commitment to our clients and the local communities in which we live. We will be able to leverage the partnership to continue to provide best-in-class solutions to all our clients."
-Trevor Campbell, President of Insurance Services Group
This acquisition is one of 17 finalized in December, making HSIP one of the most active brokerage firms in 2021, in terms of acquisitions. HSIP has acquired 97 agencies in just three years. The firm has a geographical footprint spanning 23 states.
About High Street Insurance Partners
High Street Insurance Partners (HSIP) is a full-service, independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. HSIP employs over 1,700 insurance specialists & consultants in offices based in Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, & Washington.