Volaris Group Inc. (“Volaris”) today announced the businesses of Policy Processing Systems Corporation Group Inc. (PPSC) and its subsidiaries Insuresoft, Red Hawk, and Covenir were acquired by a subsidiary of Volaris.
PPSC is a unique technology and service collaborative with the mission of removing the fundamental technology constraints insurers face so they can better serve their clients. Today, PPSC has over 40 insurers processing close to $5 billion in annual premiums in personal and commercial lines across all 50 states.
“We are proud of what we have achieved over the past fifteen years with Insuresoft’s Diamond insurance platform and more recently the launch of our insurance collaborative featuring Covenir, Kaboodle and Red Hawk,” said Tony Villa, CEO of PPSC. “As part of the Volaris organization, the PPSC team and its clients have access to extensive resources and a global network of relationships. We believe Volaris’ successful history of acquiring and growing vertically focused software companies can help strengthen our business units and accelerate the build out of our digital insurance ecosystem.”
Michael Dufton, Portfolio Leader of Volaris, said, “We are impressed by PPSC’s strong management team and product expansion. PPSC has differentiated itself through its innovative software and unique approach to tailoring solutions that fit the needs of insurers of all sizes. We are excited to support PPSC in its continued growth. The acquisition of PPSC supports Volaris’ plans to continue to expand our presence in the insurance technology sector and furthers our commitment to being a leading supplier of technology to the insurance industry.”
In keeping with Volaris’ philosophy of acquire, strengthen and grow, PPSC maintains its independence with support, coaching and best practices from Volaris. Tony Villa leads the business as CEO, along with the existing management team of Steve Adams, Jeff Brown, Terry Brown and David Squibb.
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies. As an operating group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions. Learn more at www.volarisgroup.com.
For more information, please contact:
Kim Emmerson, CMO
Tel: +1 647 738 5977