WELLESLEY, Mass., June 6, 2024 – Morgan Partners is pleased to announce that our client Insurance Systems Inc. (“ISI”), a provider of enterprise software solutions to the property and casualty insurance industry based in Toronto, Canada, has received an investment from NexPhase Capital, LP (“NexPhase”), a thematically driven and operationally focused private equity firm.

Founded in 1997, ISI offers a mission-critical insurance policy administration system (“PAS”) software for insurers to manage the full lifecycle of policies across commercial and specialty insurance lines. Their functionality includes billing, claims, accounting, reinsurance, and more. The highly configurable cloud-based platform gives clients an end-to-end solution capable of scaling with ease.

“The Morgan Partners team ran a competitive process resulting in a great outcome for all stakeholders. Their knowledge of insurance technology is second to none and they have our highest recommendation. 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, President & CEO of Insurance Systems Inc.

“ISI’s management team has built a great company, and it was an absolute pleasure to work alongside them during this process. We are excited to see them take things to the next level with NexPhase, and we certainly hope to have the opportunity to partner with them again in the future,” commented Hugh Keefe, Managing Director at Morgan Partners.

Morgan Partners served as exclusive financial advisor to Insurance Systems Inc., and terms of the deal were not disclosed. More information can be found here.

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, Ontario, ISI has a diverse client base of property and casualty insurers.

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.

About Morgan Partners

Morgan Partners is a highly focused middle-market financial technology investment bank. Our tailored, expert services, deep industry relationships, and vertical domain expertise allow us to provide “best execution” simply not available at other firms. Our services consist of sell-side and buy-side M&A, capital raising, and strategic advisory to technology companies in the insurance, capital markets, banking, and related sectors. Visit www.morganpartners.com to learn more.