Insurance technology vendor Vertafore has acquired MGA Systems, a provider of software for managing general agencies based in Melville, N.Y.
Vertafore said the acquisition gives its customers access to policy administration and rating programs that will be integrated into Vertafore’s suite, strengthening Vertafore’s offering for MGAs.
MGA Systems, which is headed by John Bennis, provides two products. IMS is a management system with a suite of policy administration and back-office functionality customizable to specific client needs, and NetRate is an ISO-based rating platform. MGA Systems merged with NetRate Systems in 2020. The products help agencies accelerate getting a product to market, according to the company.
The company says it builds software programs that fit each client’s needs and budget.
Terms of the deal were not disclosed.
The deal comes following Vertafore’s acquisition of AgencyZoom last year.