ReSource Pro, a strategic operations partner for insurance organizations, announced the completion of its acquisition of Lowry & Associates, Inc, a provider of premium audit and underwriting survey solutions.
Lowry, which has been serving the insurance industry for over 35 years, works with many of the largest and fastest-growing carriers and managing general agents (MGAs) in the industry.
Historically, premium audit and underwriting surveys have relied on limited technology support. By acquiring Lowry, ReSource Pro said that it aims to integrate the strengths of both companies in terms of insurance expertise, operational efficiency, technology enablement, and customer service.
The acquisition comes during a period of growth for ReSource Pro. Earlier this year, the company made the Inc. 5000 list of fastest-growing companies for the 15th time, the only insurance industry representative to do so. ReSource Pro has also expanded globally, opening its first European delivery location and continuing to diversify its service offerings.
Dan Epstein (pictured above), CEO of ReSource Pro, stated that the acquisition expands the company’s capabilities within the commercial property and casualty (P&C) insurance sector.
He noted that the combination of the two companies will address exposure management challenges for commercial P&C carriers and MGAs, emphasizing the importance of accurate and timely premium audits and underwriting surveys to profitable underwriting.
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Lowry has developed a significant presence as an audit and survey provider, leveraging a proprietary training program to create a team of experts who support insurance companies across the United States.
Fred Lowry Jr, president of Lowry & Associates, expressed optimism about the merger, stating that ReSource Pro’s scale and expertise will benefit Lowry’s customers. He also noted the shared values between the two companies and their commitment to innovation and excellence.
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