INSURANCE TECHNOLOGY

Confie Acquires Velox Insurance to Expand in Georgia Market

Confie | December 15, 2021

online Insurance news
Confie, the largest independent personal lines distributor in the U.S., today announced it will acquire Velox Insurance as an affiliate to its nonstandard national brand Freeway Insurance. The acquisition includes all 40 locations in Georgia, tripling Confie's presence in the state, as well as two Florida franchise locations.

Freeway Insurance will retain all current Velox Insurance employees and franchise holders – including founder Jose L. Robayo-Ramirez– as well as aggressively hire additional staff as it continues to expand its footprint and offerings in Georgia, the fifth largest non-standard auto insurance state in the country.

"Velox Insurance is a strong brand with an incredible reputation in Georgia, which is testament to Velox's commitment to offering customers a quality selection of insurance solutions that meet their unique needs, We look forward to working alongside the entire Velox Insurance team as Freeway Insurance continues its expansion across the country."

- Chad Maxwell, Senior Vice President and Head of M&A, Confie.

Velox Insurance has been one of the preeminent providers of affordable insurance in Georgia since 2003, providing competitive rates and superior service for its customers' business, property and vehicle insurance needs. Velox has corporate owned locations and offers franchising opportunities in the states of Georgia and Florida. 

"For nearly a decade, Georgia residents have relied on Velox Insurance because of how affordable and convenient we make the insurance-buying process, Now, with Velox Insurance joining the Freeway Insurance family, our customers will have even greater access to quality insurance carriers at the best price.  They will be able to get insurance online, in-person or over the phone. We could not have wished for a better partner to join us in our ongoing mission to serve the great people of Georgia and Florida."

- Jose L. Robayo-Ramirez, CEO/Founder.

In June 2021, Freeway Insurance announced it would begin offering franchising opportunities for the first time in the company's history.

"This acquisition perfectly encapsulates the goal we set when announcing our franchising opportunities - they offer both corporate and franchise locations.  We get both established entrepreneurs and a strong employee base to join our winning team, Today's announcement is a continuation of a long-term growth strategy into new markets through acquisitions, franchising and organic growth."

Cesar Soriano, CEO of Confie.


About Confie
Established in 2008, Confie is the nation's leading personal lines insurance distribution company. Today, Confie meets customers wherever they are – with more than 750 retail locations in 23 states, the Bluefire general agency, and a telephone and online shared service center servicing all 50 states. With flexible insurance options, outstanding value, and convenient service, Confie's aspiration is to be the most trusted source of insurance solutions so our customers can have peace of mind. Confie is a portfolio company of Alliant. 

About Freeway Insurance
Established in 1987, Freeway offers insurance policies via a "click, call, or come-in" approach that provides customers coverage throughout the United States. The company is constantly researching, growing and diversifying product offerings to stay responsive to the ever-evolving insurance market. Freeway offers a wide range of plans, from the most basic to premium plans, in auto, truck, commercial vehicle, fire, flood, homeowners, renters, small commercial, motorcycle and recreational vehicle insurance products. In 2008, Freeway Insurance joined Confie, the leading national personal lines insurance distribution company. Today, Freeway Insurance services customers in more than 500 offices.

Spotlight

Australia’s first Life insurance policy was written in 1833. More than 180 years later, the old adage that “Life insurance is sold, not bought” continues to be the accepted wisdom by many. However, does that mantra still hold true? The role of financial advisers or insurance agents in the sale of Life insurance policies is steeped in tradition. If you are a baby boomer, you will probably remember the agents from AMP or National Mutual knocking on your door to collect money for your policy.


Other News
CLAIMS

Automate and Improve Claims Subrogation Management with CCC Intelligent Solutions’ AI-Powered Safekeep Guidewire Marketplace App

CCC | August 01, 2022

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RISK MANAGEMENT

Marsh McLennan Agency Acquires CS Insurance Strategies

Marsh McLennan Agency, Marsh | July 08, 2022

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HEALTH INSURANCE

HealthSmart® Launches Houston SmartCare™ Health Plan

HealthSmart | June 02, 2022

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INSURANCE TECHNOLOGY

Socotra Acquires Avolanta to Add Unified Agent and Customer Portal to Its Advanced Policy Core

Socotra | May 21, 2022

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Spotlight

Australia’s first Life insurance policy was written in 1833. More than 180 years later, the old adage that “Life insurance is sold, not bought” continues to be the accepted wisdom by many. However, does that mantra still hold true? The role of financial advisers or insurance agents in the sale of Life insurance policies is steeped in tradition. If you are a baby boomer, you will probably remember the agents from AMP or National Mutual knocking on your door to collect money for your policy.

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