The acquisition expands AgencyBloc’s offerings to insurance brokers and further enables the company to support core broker workflows.
Cedar Falls, IA: AgencyBloc, a leading agency management system (AMS) provider for independent insurance agencies, is pleased to announce the acquisition of FormFire, a leader in quoting and enrollment for small-group benefits and medical health questionnaire data collection for carrier underwriting.
The FormFire solution supports benefits quoting and enrollment, streamlining the many steps of the application process across many carriers and plan types into a single workflow across medically-underwritten and community-rated small-group health plans. FormFire makes brokers more efficient and ensures that carriers receive accurate data for underwriting, quoting and enrollment. With a customer base of over 600 retail brokers and connectivity with leading health insurance carriers across 33 states, FormFire is dedicated to providing enhanced customer service and simplifying the distribution of small-group medical insurance.
With the support of AgencyBloc’s insurance domain expertise and understanding of broker workflows, the combination of FormFire with the AgencyBloc AMS will streamline broker workflows. In addition, the combined company plans to expand its connections with carriers to enable efficient information flow across a broader set of small group quoting and enrollment stakeholders. The union between AgencyBloc and FormFire aims to solidify the company’s market leadership position and will enhance AgencyBloc’s offering for benefits agencies both large and small.
“We have seen the expertise that AgencyBloc brings to the table, and it has been clear from the start that our value-driven mission aligns perfectly with theirs,” said Colin Ingram, CEO of FormFire. “We are very excited to move forward with the team and for what will be accomplished together.”
With more than 270 product releases since 2015, AgencyBloc is committed to partnering with its customer base to identify opportunities for innovation and enhanced efficiencies in product functionality. AgencyBloc’s core solutions include an industry-specific CRM, a commissions processing module, and an integrated marketing automation and sales pipeline tool. AgencyBloc is dedicated to driving workflow efficiency to a diverse customer base of over 3,000 insurance agencies.
“FormFire is a leader in digitizing the health insurance quoting and enrollment process and we were very excited to get involved in their mission,” said Adam Lewis, CEO of AgencyBloc. “This acquisition will allow us to better serve our broker clients and improve workflow efficiency. We are thrilled to work with the FormFire team and continue to build momentum towards the growth of our platform.”
This acquisition underscores the partnership that AgencyBloc has had with Resurgens Technology Partners and demonstrates the collective aim to expand AgencyBloc’s platform offerings, improve go-to-market strategies, and grow the team.
“The combination of these two products is an important step toward our vision of a streamlined broker workflow and a more efficient exchange of information between brokers and carriers,” said Danny Carpenter, Vice President at Resurgens. “We are very excited to see the continued momentum of the growth and investment of the AgencyBloc platform.”
About FormFire, LLC
Based in Cleveland, OH, FormFire is the country's leading provider of digital online processes for the paperbound world of small-group health insurance quoting, sold case installation, and group renewal for employees and employers, brokers and carriers. Since 2005, FormFire has processed millions of medical applications using its intelligent interview and medical health questionnaire, reducing the time, effort and number of errors typically involved in paper applications.
About AgencyBloc, LLC
AgencyBloc is the #1 Agency Recommended management system, helping insurance agencies secure and grow their business with an industry-specific CRM, a unique commissions processing module, and an integrated marketing automation and sales pipeline tool. Headquartered in Cedar Falls, IA, AgencyBloc was founded in 2008.
About Resurgens Technology Partners
Resurgens Technology Partners is a tech-focused private equity firm investing in North American and select European lower middle-market application and IT/infrastructure software businesses. Resurgens’ growing team offers a diversity of investing, operating and talent management experience, applying an active and engaged value creation approach with each portfolio company. Resurgens is headquartered in Atlanta, GA, with additional professionals located in Austin, London and Silicon Valley.