New York-based ReSource Pro, an insurance-focused business solutions platform has announced its acquisition of towerIQ. Founded in Boston, towerIQ is an insurtech start-up that created an enterprise SaaS platform to streamline workflows and provide analytical capabilities for the commercial insurance industry.
“The towerIQ platform allows us to work better with client data and deliver faster and more accurate solutions for our customers,” said Dan Epstein, CEO of ReSource Pro. “For many of our clients, towerIQ will provide a transformative capability to leverage insured data to better manage complex risks.”
According to the terms of the transaction, completed on June 24, 2022, towerIQ CEO Adam Demos will continue on as a director with ReSource Pro, joined by towerIQ’s current staff. According to Epstein, further investments in the towerIQ team are expected in the months ahead.
“Through ReSource Pro, we have an opportunity to join an established and fast-growing industry leader committed to next generation technology that helps agents, brokers and carriers operate more efficiently,” said Demos. “We’re thrilled to join ReSource Pro and look forward to enhancing the data management experience of ReSource Pro’s clients.”
With the addition of towerIQ, ReSource Pro says it will be able to further deliver on its core mission of insurance transformation. The company has completed a series of other acquisitions with the aim of fulfilling its long-term growth strategy to add expertise, technology and resources that enhance client value and expand the company’s global operations.