ReSource Pro Acquires Boston-based InsurTech Startup towerIQ; SaaS company to provide additional automation, enhanced experience for clients.
NEW YORK — June 30, 2022 —ReSource Pro, a market leader in business process solutions for the insurance industry, has successfully completed its acquisition of towerIQ, a P&C insurance focused technology platform designed to streamline workflows and capture the market’s most valuable data. The addition of towerIQ will deliver on ReSource Pro’s core mission of insurance transformation by allowing ReSource Pro clients to optimize their data and improve 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.”
towerIQ is among the latest in a series of insurance industry acquisitions made by ReSource Pro as part of the company’s long-term growth strategy to add expertise, technology and resources that enhance client value and expand the company’s global operations. towerIQ CEO Adam 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.
“Through ReSource Pro, we have an opportunity to join an established and fast-growing industry leader committed to next generation technology that helps agents, brokers and carriers operate more efficiently,” said Demos. “We’re thrilled to join ReSource Pro and look forward to enhancing the data management experience of ReSource Pro’s clients.”
The transaction closed on June 24, 2022. KBW acted as financial advisor to towerIQ in the transaction.
About ReSource Pro
ReSource Pro is an insurance-focused business solutions company that integrates people, process, technology, and data analytics. Over 1,000 carriers, brokers, and MGAs rely on ReSource Pro to execute strategies that improve profitability, accelerate growth, deliver improved outcomes, and enhance client and employee experience. With more than 6,000 employees globally, ReSource Pro provides business process management, strategic advisory services, management, digital and organic growth consulting, training, and compliance solutions around the clock. ReSource Pro has been listed as one of the Inc. 5000 Fastest Growing Private Companies annually since 2009 and has consistently achieved a +96% retention rate for over a decade.
About towerIQ
towerIQ is an enterprise SaaS platform providing robust communication, data insights, and exposure gathering for the commercial insurance industry. The towerIQ software replaces outdated, inconsistent communication and application methodologies with a simplified interface and centralized data-collection system to improve agent and broker efficiency, as well as policyholder satisfaction. towerIQ was founded by Adam Demos and Dan Hurwitz.
