Keystone Agency Partners (KAP), a life insurance brokerage platform, has announced its latest acquisition this week, increasing their total platform partners to 20. Established in 2020, KAP specializes in acquiring or partnering with independent insurance agencies.
LifeQuotes, the newly acquired entity, is a life insurance price comparison service that enables individuals seeking various types of insurance to obtain quotes from over four dozen life insurers and purchase policies online. The company's offerings include life, auto, health, homeowners and renters, long-term care, disability, and travel insurance quote access. Additionally, it provides access to medical supplements and Medicare Advantage quotes as stated on the LifeQuotes website.
"Joining forces with Keystone Agency Partners opens up new avenues for growth and innovation. We are excited to contribute our expertise to KAP's dynamic ecosystem and continue our mission of providing accessible life insurance solutions to customers nationwide," said Bland, CEO of LifeQuotes in the Jan. 12 news release announcing the acquisition.
According to its website, Keystone Agency Partners aims to assist independent insurance agencies in growing and creating value for their partner groups and consumers. They offer support and guidelines to enhance sales, streamline operations, and attract new leaders and salespeople. Keystone provides business insurance and personal insurance solutions across various niche markets such as childcare centers, school bus contractors, residential and commercial general contractors, environmental liability among others.
Girardi, KAP’s Chief Acquisition Officer said "LifeQuotes brings a wealth of experience and technological innovation to our family of Platforms. This acquisition aligns seamlessly with our commitment to offering diverse and customer-centric insurance solutions. We are thrilled to welcome LifeQuotes to the KAP family."
Having served more than 400,000 customers while continuing to improve the industry's landscape, LifeQuotes is a significant addition for KAP. The insurtech market is witnessing substantial growth with projections indicating a rate of 42.4% in the forecast period of 2021 to 2028, reaching an estimated $46 billion by 2028 according to Data Bridge Market Research.