Resurgens Technology Partners, a software-focused private equity firm, is pleased to announce its portfolio company AgencyBloc, a leading agency management system (AMS) provider for independent insurance agencies, has completed the acquisition of FormFire.
FormFire is a leader in quoting and enrollment for small-group benefits and medical health questionnaire data collection for carrier underwriting. The FormFire solution supports benefits quoting and enrollment, streamlining the many steps of the application process across many carriers and plan types into a single workflow across medically underwritten and community-rated small-group health plans. FormFire makes brokers more efficient and ensures that carriers receive accurate data for underwriting, quoting and enrollment. With a customer base of over 600 retail brokers and connectivity with leading health insurance carriers across 33 states, FormFire is dedicated to providing enhanced customer service and simplifying the distribution of small-group medical insurance.
With the support of AgencyBloc’s insurance domain expertise, the combination of FormFire with the AgencyBloc AMS will streamline the broker workflow. In addition, the combined company plans to expand its connections with carriers to enable efficient information flow across a broader set of small-group quoting and enrollment stakeholders. The union between AgencyBloc and FormFire aims to solidify the company’s market leadership position and will enhance AgencyBloc’s offering for benefits agencies of all sizes.
“We have seen the expertise that AgencyBloc brings to the table and it has been clear from the start that we are aligned in our shared mission to streamline operational processes for our broker and carrier customers,” said Colin Ingram, CEO of FormFire. “We are very excited to move forward with the team and for all that we will accomplish together.”
AgencyBloc is committed to partnering with its customer base of over 3,000 insurance agencies to identify opportunities for innovation and to enhance efficiencies in their workflows. AgencyBloc’s core solutions include a purpose-built CRM, a commissions processing module, and an integrated marketing automation and sales pipeline tool. The addition of FormFire’s quoting and enrollment tools move the company further in the direction of being a full-suite solution for health and benefits insurance agencies.
“FormFire is a leader in digitizing the health insurance quoting and enrollment process and we are very excited to bring their capabilities to our client base,” said Adam Lewis, CEO of AgencyBloc. “This acquisition will allow us to better serve our broker clients and improve workflow efficiency. We are thrilled to work with the FormFire team and continue to build on our momentum in the industry.”
This acquisition underscores the partnership that AgencyBloc has with Resurgens Technology Partners and demonstrates the collective aim to expand AgencyBloc’s platform offerings, improve go-to-market strategies and grow the team.
“The combination of these two products is an important step toward our vision of a streamlined broker workflow and a more efficient exchange of information between brokers and carriers,” said Danny Carpenter, Vice President at Resurgens. “We are very excited to combine these capabilities and continue to accelerate the growth and momentum of the AgencyBloc platform.”