Insurance business services company ReSource Pro announces that it has completed its acquisition of towerIQ, a P&C insurance-focused technology platform designed to streamline workflows and capture market data.
ReSource Pro said the addition of insurtech will allow its customers to optimize their data collection and improve their productivity, especially for medium to large, complex and specialized business accounts.
“The towerIQ platform allows us to work better with customer data and deliver faster, more accurate solutions to our customers,” said Dan Epstein, CEO of ReSource Pro. “For many of our customers, towerIQ will provide a transformational capability to leverage assured data to better manage complex risks.”
The towerIQ cloud platform provides communication, data insights and exposure collection for the commercial insurance industry.
The company was founded by Adam Demos and Dan Hurwitz. TowerIQ CEO Demos will continue to lead the towerIQ team as Director of ReSource Pro, joined by current towerIQ staff. According to Epstein, further investment in the towerIQ team is expected in the coming months.
Terms of the agreement were not announced. The transaction closed on June 24, 2022. KBW acted as financial advisor to towerIQ in connection with the transaction.
ReSource Pro provides business process management, strategic consulting, management, digital and organic growth consulting, training and compliance services.
Mergers & Acquisitions Tech Companies Insurance Companies
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