Insurance business services firm ReSource Pro reports it has completed its acquisition of towerIQ, a property/casualty insurance focused technology platform designed to streamline workflows and capture market data.
ReSource Pro said the addition of the insurtech will allow its clients to optimize their data collection and improve their productivity, especially across middle to large market, complex and specialty commercial accounts.
“The towerIQ platform allows us to work better with client data and deliver faster and more accurate solutions for our customers,” said Dan Epstein, CEO of ReSource Pro. “For many of our clients, towerIQ will provide a transformative capability to leverage insured data to better manage complex risks.”
The towerIQ cloud platform offers communication, data insights, and exposure gathering for the commercial insurance industry.
The firm was founded by Adam Demos and Dan Hurwitz. TowerIQ CEO Demos will continue to lead the towerIQ team as a director with ReSource Pro, joined by towerIQ’s current staff. According to Epstein, further investments in the towerIQ team are expected in the months ahead.
Terms of the deal were not announced. The transaction closed on June 24, 2022. KBW acted as financial advisor to towerIQ in the transaction.
ReSource Pro provides business process management, strategic advisory services, management, digital and organic growth consulting, training, and compliance services.
Topics
Mergers & Acquisitions
Tech
Commercial Lines
Business Insurance
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.