Ignyte Insurance launched as a specialty insurance platform focused on acquiring, expanding, and supporting insurance brands in niche global markets.
Previously part of the global investment firm Carlyle, Ignyte announced its launch following the recent sale of NSM Insurance Group’s U.S. commercial business to New Mountain Capital.
The company’s portfolio includes specialty insurance brands covering collector cars, travel medical coverage, international student health, leased equipment, and embedded insurance products.
Geof McKernan, Bill McKernan, and Marc Castellucci lead the company, bringing over 30 years of experience building and expanding insurance platforms.
Ignyte operates in the United States, United Kingdom, Europe, and Australia.
Geof McKernan, president of Ignyte Insurance, stated that while the team was proud of building NSM Insurance Group over the past 35 years, it was the right time to pursue a new venture.
He highlighted their proven track record in building successful companies and expressed confidence in Ignyte’s future growth, calling the opportunity ahead significant.
Ignyte’s portfolio includes $650 mn in premium and features specialist managing general agent platforms. The company has completed over $4 bn in transactions to date.
Since 2012, we have been simplifying regulatory processes to help businesses of all sizes to comply with complex guidelines, enhance their cybersecurity posture, mitigate risks, and protect their resources faster and more cost-effectively.
Founded by a U.S. military veteran, Ignyte Assurance Platform has evolved from an internal proprietary tool to a full-stack cloud-based application powered by artificial intelligence and language and intent matching technology.
It has built-in scenarios designed to manage regulatory compliance processes from day one without costly customization while significantly reducing the time and effort from deployment to audit.
