PEAK6 InsurTech, an insurance operations subsidiary of PEAK6 Investments, announced today that UniFi Group has agreed to acquire a controlling interest in National Flood Services (NFS). PEAK6 will retain a minority stake in the new joint venture. NFS and UniFi expect to close the transaction in the third quarter of 2022.
“Since the acquisition of NFS in 2018, we have been intently focused on developing the premier technology platform serving the flood insurance space,” Deb Franklin PEAK6 Insurance Technology’s Co-CEO. “With our successful launch of Trident in 2020, we believe we have accomplished that. This transaction will take NFS to the next level of growth, with NFS benefiting from UniFi’s network and services.”
UniFi is a leading provider of transformational technology for the insurance sector for 14 years. They specialize in BPO contact centers operations. They understand the unique needs of insurance carriers and are passionate about bringing tech solutions into customer’s hands quickly and effectively. UniFi and NFS have a new partnership. This will allow them to combine their strengths and deliver better technology and services, which will help us become the leading flood insurance provider. A successful future depends on having resources that are focused on the core business strategy.
Dr. Kiran C. Patel, Chairman of UniFi Group, commented, “UniFi focuses on building technology solutions that support the Flood and P&C Insurance markets. Our modular SaaS based system will allow client customizations that will provide NFS clients a competitive advantage.”
NFS has been working with leading insurance companies for over 36 years to protect homeowners from the devastating effects of flooding. NFS works closely with FEMA and WYOs to support over 85,000 flood agents. They oversee more than 1.5 million policies and $1.4 billion in National Flood Insurance Program premiums each year.