Surefyre Acquired by VertaFore
The team at Serra is very excited to announce yet another acquisition of a portfolio company in the month of October. Surefyre, a Serra Capital III SBIC company, has been acquired by Vertafore. See below an excerpt from the press release:
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.”
"We're pleased to see the strategic relationship with Vertafore mature into an acquisition for the Surefyre team. The two companies are very well aligned, and the opportunity for future growth is quite large," commented Rob Schultz, Managing Partner with Serra.
Serra originally invested in Surefyre in February of 2020. To view the full press release, follow here.