NexPhase Capital, a private equity firm known for its thematic and operational focus, has announced an investment in Insurance Systems Inc., ISI, a provider of enterprise software solutions to the property and casualty insurance industry.
The amount raised in this investment round was not disclosed. NexPhase’s investment aims to support ISI’s growth in current markets, expand into new areas, and enhance its product offerings, particularly in integrations, implementation speed, and analytics for both new and existing customers.
Founded in 1997 and headquartered in Toronto, Canada, ISI is a leading provider of policy administration systems for property and casualty insurance carriers across the U.S., Canada, and globally. ISI’s flagship product, ISI Enterprise, enables insurance carriers to manage the complete policy lifecycle, including administration, claims, billing, accounting, and reinsurance.
The new funding from NexPhase will be used to continue ISI’s growth trajectory, improve product integrations, speed up implementation processes, and enhance analytics capabilities. This investment will also facilitate ISI’s expansion into adjacent markets and support ongoing product improvements.
Joel Killion, partner at NexPhase, said, “We are proud to partner with ISI, whose mission-critical software solutions and premier service have made the Company a partner-of-choice for customers in the property and casualty insurance industry.
“With a flexible, highly configurable platform and strong existing industry relationships, ISI is well-positioned for continued growth. We look forward to working alongside Casey and the rest of the highly experienced management team in an effort to continue ISI’s track record of providing a leading platform and excellent service at scale.”
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