NexPhase Capital Announces Investment in Insurance Systems Inc.

NEW YORKJune 6, 2024 /PRNewswire/ — NexPhase Capital, LP (“NexPhase” or “NPC”), a thematically driven and operationally focused private equity firm, announced today that it has made an investment in Insurance Systems Inc. (“ISI” or the “Company”), a provider of enterprise software solutions to the property and casualty insurance industry. NexPhase’s investment will help enable ISI’s continued growth in its existing markets, position the Company for expansion into adjacent markets and facilitate continued product improvements designed to allow for more integrations, faster implementation and enhanced analytics for new and existing customers. Terms of the investment were not disclosed.

Founded in 1997 and headquartered in Toronto, Canada, ISI is a leading policy administration system provider for property and casualty insurance carriers in the U.S., Canada and globally. The Company’s flagship product, ISI Enterprise, allows insurance carriers to manage the full policy lifecycle, including policy administration, claims, billing, accounting and reinsurance.

“We are proud to partner with ISI, whose mission-critical software solutions and premier service have made the Company a partner-of-choice for customers in the property and casualty insurance industry,” said Joel Killion, Partner at NexPhase. “With a flexible, highly configurable platform and strong existing industry relationships, ISI is well-positioned for continued growth. We look forward to working alongside Casey and the rest of the highly experienced management team in an effort to continue ISI’s track record of providing a leading platform and excellent service at scale.”

“At ISI, our mission is to provide configurable solutions to meet the ever-evolving needs of our valued customers. We are pleased to have found the right partner in NexPhase to help us realize ISI’s long-term vision and potential,” said Casey Kretz, CEO of ISI. “NexPhase has extensive experience growing and supporting businesses in the insurance software industry. The ISI management team and I are excited to work closely with the NexPhase team to continue expanding our offerings, investing in our sales and implementation organizations, and enhancing our scalability.”

Mr. Kretz will continue to serve as CEO of ISI and serve on the Company’s Board of Directors. Mr. Killion will also be joining the Board, in addition to Bob Gartland and Quint Carr, a Partner and Vice President at NexPhase respectively, as well as Mike Roe, an Operating Partner at NexPhase.

Choate, Hall & Stewart LLP and Gowling WLG (Canada) LLP served as legal advisors to NexPhase. Morgan Partners LLC acted as the exclusive financial advisor to ISI and Blaney McMurtry LLP served as the Company’s legal advisor.

About NexPhase Capital

NexPhase Capital is a thematically driven and operationally focused lower middle-market private equity firm that makes control investments in growth-oriented and capital-efficient companies within three distinct industry verticals: healthcare, software and consumer. NPC partners with companies that have reached a growth inflection point and are seeking a value-added partner to help navigate the company’s “next phase.” The NPC team has extensive industry and operational experience and NPC’s Partners have invested together for over a decade. The NexPhase team has completed over 100 investments, including add-ons, and targets control equity investments between $25 million and $150 million. Since inception, NPC has raised and managed approximately $2.6 billion of capital. For more information, please visit www.NexPhase.com.

About Insurance Systems Inc. 

Founded in 1997, ISI and its team of insurance professionals are dedicated to developing and implementing innovative software products for the property and casualty insurance industry. ISI’s flagship product, ‘ISI Enterprise’, is ideal for small to mid-size commercial and specialty lines carriers ranging from $10 to $400 million in premiums written annually. Headquartered in Toronto, Canada, the company has a diverse client base of property and casualty insurers. For more information about ISI, visit www.insurancesystems.com or contact [email protected].

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.