NexPhase’s Investment in Insurance Systems Inc. to Drive Growth and Expansion
On 7th June 2024, private equity firm NexPhase announced its investment in Insurance Systems Inc. (ISI), a leading provider of enterprise software solutions for the property and casualty insurance industry in Canada. The investment aims to support ISI’s growth in its current markets and pave the way for expansion into new territories.
Founded in 1997, ISI is headquartered in Toronto and specializes in offering policy administration systems for insurance carriers across the US, Canada, and globally. The company’s flagship product, ISI Enterprise, enables insurance carriers to manage various aspects of the policy lifecycle, including administration, claims, billing, accounting, and reinsurance.
Under the terms of the investment, Casey Kretz will continue to lead ISI as CEO and serve on the company’s Board of Directors. Joining him on the board are Joel Killion, Bob Gartland, Quint Carr from NexPhase, and Mike Roe, an Operating Partner at NexPhase.
Speaking about the partnership, Killion expressed confidence in ISI’s software solutions and service quality, emphasizing the company’s strong position in the insurance industry. Kretz also shared his enthusiasm for collaborating with NexPhase to further enhance ISI’s offerings and expand its market reach.
NexPhase’s expertise in the insurance software industry aligns well with ISI’s vision of providing adaptable solutions to meet evolving customer needs. Together, the two entities aim to drive innovation, invest in sales and implementation capabilities, and improve scalability to better serve the insurance sector.
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