Equal parts, a newly launched insurance company, has officially entered the market with $ 10 million in acquisition capital, supported by equal companies and Max Ventures.
It is intended to acquire agencies that generate less than $ 5 million in income, giving them AI tools to streamline back-office activities.
It has recently completed its first acquisition and is planning to complete a number of more ‘fundamental acquisitions’ within the next 90 days, according to a press release.
Through automation of “everyday tasks” and system integration, agents can concentrate on strengthening customer relationships.
The CEO and co-founder of the company, Mike Witte, has established previously established Energy Services Company Wortkrise (formerly Rigup) and grew from a start-up to a company of $ 2.9 billion in the energy sector through the integration of technology.
Witte said: “Independent agencies based on strong relationships are the backbone of the insurance sector, and they face important challenges. We believe that the future of insurance is innovation and relationships of equal parts, technology and tradition of equal parts – and that the winner will bring both parts to the extreme.”
The founder is Mike Meller, who contributed to the Small Business Acquisition and Growth strategy of WORKRISE, and Graham Yennie, who has experience with applied machine learning and AI implementation.
Equal parts co-founder and head of operations Mike Meller stated: “Smaller independent agencies are confronted with a paradox: growth requires extra service options, but every new product or service creates more exponentially disconnected systems that are manually bridged by people. Our technology does not replace the human element.
“Insurance Company Equal Parts launches with $ 10 million acquisition capital” was originally founded and published by Life Insurance International, a Global Data brand.
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