Insurance Technologies sold to Thomas H. Lee Partners
Private equity firm NexPhase Capital announced that it has entered into a definitive agreement to sell Colorado Springs-based Insurance Technologies to Thomas H. Lee Partners.
Founded in 1995, Insurance Technologies offers digital sales and regulatory sales automation solutions for financial professionals and advisors.
Since 2014, NexPhase has worked closely with Insurance Technologies’ management team and has supported their efforts to further expand both the FireLight® and ForeSight® solutions.
“In NexPhase, we found a partner who not only recognized the enormous potential of our company, but also brought the strategic, operational, and industry expertise needed to elevate our position as a partner the financial services and insurance industries can count on. NexPhase’s insight and guidance has been instrumental in the results we have delivered to our clients and our ability to meet increased demand in recent months as more clients recognize how impactful our solutions can be in driving the efficiency of remote work. We look forward to building on this momentum as we partner with THL to capitalize on the many opportunities ahead.” – David Fenimore, Chief Executive Officer of Insurance Technologies.
“We saw an opportunity to propel a strong team and impressive company forward as they help modernize the antiquated systems across the insurance industry. Throughout our partnership, InsTech has further enhanced its commitment to its core business performance across development, implementation services, and relationship management to successfully support its clients’ strategic initiatives and progress in digitization. We are very happy with this transaction and believe it represents a terrific outcome for Insurance Technologies, THL and NexPhase.” – Bob Gartland, a Principal at NexPhase.