COLUMBUS, OHIO – August 19, 2009 – NuGrowth Solutions, a software sales and development company headquartered in Columbus, Ohio, has signed a purchase agreement to acquire Strategic Insurance Software (SIS), a subsidiary of State Auto Financial Corporation (STFC). SIS was founded in 1995 with the purpose of designing and selling agency management systems that allow independent agents to enter and process business directly with their company partners. NuGrowth has provided business development, sales and e-communications services to SIS since 2008.
NuGrowth CEO Greg Tillar explained the decision to purchase SIS was grounded in their day-to-day work with the SIS product and people. “We have appreciated being part of an organization that brings such excellence and commitment to the insurance agency marketplace. We look forward to building on that passion. With its talented staff, robust agency management platform, outstanding customer service and award-winning industry expertise, SIS is poised for continued success and quality growth.”
STFC Chairman and CEO Bob Restrepo said the sale of SIS to NuGrowth was a sound business decision on several levels. “SIS customers, many of whom are State Auto agents, will benefit from the singular focus of NuGrowth. SIS has built terrific agency management software products, but State Auto is an insurance company and that needs to be our singular focus.” Restrepo added that the inclusion of the SIS staff was an important requirement of the sale for both parties. “NuGrowth is acquiring talented people who will insure the maintenance and stability of SIS products.”
NuGrowth is a sales and business development organization founded in Columbus, Ohio, in 2000. NuGrowth partners with companies to accelerate sales performance, implement growth strategies and build equity. The NuGrowth team has managed top-line sales and bottom-line results for a host of technology and software companies ranging from zero-revenue start-ups to publicly traded global organizations.
State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company. The company markets its personal and business insurance products exclusively through independent insurance agencies in 33 states and is proud to be a Trusted Choice® company partner. STFC stock is traded on the NASDAQ Global Select Market, which represents the top third of all NASDAQ listed companies. The insurance subsidiaries of State Auto Financial Corporation are part of the State Auto Group. The State Auto Group is rated A+ (Superior) by the A.M. Best Company Additional information on State Auto Financial Corporation can be found online at www.StateAuto.com.
Insurance Agency Network Selects Partner XE as their Agency Management System
Worcester, MA – August 29, 2008 – Strategic Insurance Software (SIS), a leading provider of agency management systems, announced today that Insurance Agency Networks (IAN), a partnership of agents focused in the Massachusetts market, has selected SIS’ Partner XE management system. IAN determined that they needed a dynamic product that could handle their needs today and as they grew. “With the Massachusetts market in such a state of flux we knew we needed an agency management system that could grow with us as our organization and needs evolved” states Paul Brennan founding partner of IAN.
Mr. Brennan continues, “We looked all the major systems out there and we really felt strongly that Partner XE has everything we need in a management system today and tomorrow”. Nolan Davis, product manager for SIS goes on to state, “Insurance Agency Network is a prime example of a forward thinking agency that understands all the components needed to be a successful business in today’s market – SIS is pleased to bring them into our family of agencies already on Partner XE”.
Another major factor in IAN’s decision was customer support, “we spoke with many agents on the different systems and one fact that kept coming back was how well SIS supports their customers, which sealed the deal for us” states Mr. Brennan.
About Strategic Insurance Software
Strategic Insurance Software, Inc. provides solutions insuring success to P&C agency and carrier insurance partners. SIS is recognized as a leader in award winning applications that fully support ACORD industry standards for forms, AL3 and XML. The Partner XE™ agency management system marketed nationwide through direct sales and company alliances. For additional information, contact an SIS associate at 1-800-747-7005 or email Sales@sisware.com.
About Insurance Agency Network
The Insurance Agency Network (IAN) is an organization of “Agents helping Agents” to compete in the “Managed Competition” auto insurance market place. Our team based business model allows our Agent and Carrier partners to share a familiar sense of purpose, pride, and dedication to excellence. For more information call 1-877-595-5526.
