North America’s insurtech Vertafore announced its acquisition of Surefyre, a leading platform focused on submission and underwriting for MGAs and wholesalers.
This move enhances Vertafore’s offerings by incorporating Surefyre’s AI-driven, low-code/no-code technology into its established MGA solutions ecosystem.
Surefyre’s platform provides MGAs with several benefits. It includes a customizable agent portal for streamlined collaboration throughout the policy lifecycle, an efficient underwriting workbench for quoting specialty P&C insurance lines, and AI-powered tools for automating workflows and risk assessments.
These features aim to accelerate the quoting process and simplify policy issuance, cutting down on administrative hours (see how Artificial Intelligence Revolutionize P&C Insurance).
Amy Zupon, CEO of Vertafore, emphasized the company’s dedication to empowering MGAs and wholesalers through technology. She highlighted that integrating Surefyre’s platform sets new standards for market speed and operational efficiency.
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
Amy Zupon, CEO of Vertafore
Zupon noted that this acquisition aligns with the success of the MGA Systems purchase two years ago, underscoring Vertafore’s ongoing commitment to technological advancements in the MGA sector.
The 2024 Conning Strategy Study reported significant growth in the MGA market, with over 1,100 MGAs and program administrators generating $100 bn+ in premiums annually in the U.S.
By acquiring Surefyre, Vertafore enhances its position to support MGAs with advanced and flexible tech solutions.
Alex Bautista, Surefyre co-founder, expressed pride in the company’s impact and excitement about joining Vertafore. He highlighted the shared vision between the companies and the potential for new innovations in delivering top-tier insurtech solutions.
As North America’s InsurTech leader for 55 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most.
Vertafore’s solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers.
Surefyre, headquartered in San Francisco, CA, was founded in 2017 by Alex Bautista and Dustin Lorres. The company provides a cloud-based software platform for Property & Casualty insurance MGAs, wholesalers, and carriers, empowering them to automate workflows and optimize operational efficiency.
