SuretyWave Acquires InSure Vision Technologies

SuretyWave plans to integrate its proprietary platform with IVT’s web-based surety bond processing system, SurePath Network.

(Image source: SuretyWave homepage.)

SuretyWave LLC (Grand Rapids, Mich.), a provider of IT and consulting services to the surety industry, announced that it has acquired InSure Vision Technologies (IVT; Sherman Oaks, Calif.). SuretyWave plans to integrate its proprietary platform with IVT’s web-based surety bond processing system, SurePath Network. SuretyWave asserts that the resulting solution will the industry’s most automated and flexible surety processing system, likely to be favored by all all surety bond stakeholders, including agents, brokers and sureties.

SuretyWave reports that the transaction closed on July 28, 2017, and that IVT’s co-founders Pam Stocks and Beverly Hall will serve as advisors temporarily to ensure a smooth and successful transition, and to confirm that enhancements to the SurePath Network are stabilized and achieve all required business objectives.

“This integration and synergy puts us in a unique position to deliver a quality assured and completely virtual 24-7 surety bond lifecycle processing to assist in lowering the internal operating cost of our Customers who may be supporting older and more complex technology environments,” comments Patrick McGinty, President, SuretyWave.

Passing the Torch

IVT founder Pam Stocks notes that after 19 years, the time was right to “pass the torch.” “After conducting extensive due diligence, we have no doubt that SuretyWave is the right partner to enhance the SurePath Network and elevate our suite of customer-centric solutions, while ensuring quality and preserving continuity of service,” she says.

SuretyWave’s acquisition affords a unique and significant opportunity for SurePath Network evolve and grow in new and innovative directions, and to further support its customers along with all surety stakeholders, according to Bev Hall, co-founder of IVT. “We are also confident that SuretyWave is not just a very capable insurance and technology organization, but will also maintain the objectivity that we have provided to our customers for the past 19 years,” she says.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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