Insurtech has helped Acrisure LLC succeed and expand, says the broker's leader.
"Technology is at the forefront of what we do and what we have done," said Greg Williams, CEO, co-founder and president of Acrisure LLC, who spoke at the InsureTech Connect conference in Las Vegas on Wednesday.
Acrisure began investing in its own technology in 2018 when the broker deliberately scaled down its business in line with 100 acquisitions per year, he said.
I In July 2020, the broker spent $ 400 million to acquire Pittsburgh-based artificial intelligence company Tulco LLC's insurance practice — Acrisure's second-largest acquisition ever — and distribute that technology in its business, Williams said.
Asked by session moderator Llya Bodner, CEO and founder of Bold Penguin Inc., what Acrisure's "secret sauce" is, Williams said: "It's a combination of many things that need to go right."
The crisis began in 2021
Mr. Williams added that one of Acrisure's strengths is that 75% of the business is owned by "people who work in the business every day," he said.