Technically driving dealer success, M&A exercise: Acrisure CEO – Enterprise Insurance
Insurtech has helped Acrisure LLC thrive and expand, says the broker's leader.
"Technology is at the forefront of what we do and have done," said Greg Williams, CEO, co-founder and president of Acrisure LLC, at the InsureTech Connect conference in Las Vegas on Wednesday.
Acrisure began investing in proprietary technology in 2018 as the broker purposely scaled its business to 100 acquisitions per year, he said.
In July 2020, the broker spent $ 400 million to acquire the insurance practice of Pittsburgh-based Tulco LLC – Acrisure's second-largest acquisition of all time – and use that technology across its business, Williams said.
When the moderator of the session, Llya Bodner, CEO and founder of Bold Penguin Inc., asked what the "secret sauce" of Acrisure was, Mr. Williams replied, "It's a combination of many things that have to go right."
Acrisure started with $ 2 billion in annual sales in 2021 and will end the year with $ 3.2 billion, Williams said. The broker started 2021 with an EBITDA of around $ 775 million and will end at $ 1.25 billion.
Mr. Williams added that one of Acrisure's strengths is that 75% of the company is owned by "employees who work in the business every day," he said.