Team Focus Insurance Group (“Team Focus”), a Sunrise, FL-based insurance provider dedicated to serving the P&C insurance industry, has announced that it will be acquired by the insurance operations subsidiary of PEAK6 Investments (“PEAK6 InsurTech”). PEAK6 is a financial technology business and investment firm, which acquired National Flood Services, a technology-first flood insurance provider, in 2018.
Team Focus services the entire insurance ecosystem through its distinct businesses and brands: MacNeill Group (distribution / program management), Focus Technologies (cloud-based policy management and administration technology), Focus Insurance Services (bespoke underwriting and administrative services), and Capacity Insurance Company (admitted carrier). Team Focus has built a differentiated platform that blends the capabilities of each business to develop customized solutions across the insurance value chain. The transaction enables Team Focus to begin its next chapter of growth with access to both capital and insurance industry thought leaders.
The transaction, which follows PEAK6’s 2018 acquisition of National Flood Services, expands PEAK6’s insurance portfolio in the property & casualty space and provides a new channel to distribute private flood insurance products. PEAK6 Insurtech will leverage Team Focus Insurance Group’s customized service offerings and policy management system, PolicyPort, a cloud-based platform that drives profits for insurance carriers and MGAs via self-service digital portals, proactive risk management tools, smart underwriting, and speed-to-market capabilities for the marketplace and investor community. The combined business will look to leverage its collective capabilities and industry expertise to drive rapid scale, both organically and through M&A. The transaction, which is subject to regulatory and other customary closing conditions, is expected to close in the fourth quarter of 2021.