Illumifin Completes Acquisition of LTCG – InsuranceNewsNet

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Create a Leading insurance services and software provider in the North American long-term care, life insurance, health and annuity markets

GREENVILLE, South Carolina–(BUSINESS WIRE)–
illumifin, a leading provider of third-party insurance administration and technology, today announced that it has completed its acquisition of LTCG to create one of the largest providers of insurance services in North American markets. long-term care, life insurance, health and annuities.

LTCG’s proprietary long-term care delivery solutions and claims capabilities will be integrated with illumifin’s third-party delivery and technology platform. This combination will provide end-to-end digital capabilities driving value for insurance companies.

“Today marks an important milestone in illumifin’s journey to become the leading provider of insurance services and software in our market,” said Phil Ratcliff, CEO of illuminifin. “We are excited to drive transformation across the industry through our unique combination of insurance knowledge, operational excellence and technology innovation.”

illumifin was founded by Abry Partnersa leader Boston-based private equity firm, and Capital Hoplonan asset manager focused on digital disruption, following the acquisition of Concentrix Corporation’s third-party insurance administration and software platform.

“We couldn’t be more excited to support the illumifin leadership team on this journey of transforming the market through innovation,” said Brent StonePartner at Abry Partners. “We believe this combination is an important step in creating a truly unique and essential business in the market.”

“With the addition of LTCG, illuminifin is now able to create transformational change in the insurance industry through its market-leading solutions,” said Robert Arsovpartner at Capital Hoplon. “We are proud that Hoplon’s investment plays a pivotal role in the future of the business.”

About Illuminafin

illumifin provides third-party administration and technology services to individual and group insurers. The company, launched in 2021, combines insurance industry knowledge, technology leadership and operational execution to prepare insurers for the digital future. illumifin is a diverse, passionate and empowered team of insurance specialists committed to the growth and success of its clients. With illuminifin there is a brighter future. To visit www.illumifin.com.

About LTCG

LTCG is a leading provider of administrative solutions and clinical services for the long-term care and life insurance industry, with more than two decades of experience in this field. The company caters to all types of client needs and policy requirements, from processing applications and underwriting new business to claims and open and closed block administration. LTCG’s advanced data analytics, actuarial and risk management capabilities and unparalleled industry expertise can help organizations manage their business and develop emerging products such as hybrid life/care policies long term. In addition, LTCG offers its clients unique risk management insights based on the industry’s largest database of long-term care underwriting and claims results. For more information, visit www.LTCG.com.

On Abry Partners

Shelter is one of the most experienced and successful industry-focused private equity investment firms in the world. North America. Since its creation in 1989, the company has made more than $90 billion leveraged transactions and other private equity or preferred stock investments. Currently, the company manages more than $5 billion of capital in all of its active funds. For more information on Shelterplease visit www.abry.com.

On Capital Hoplon

Hoplon pursues proprietary investments focused on the digital economy that disrupt their respective end markets, including insurance, financial services, IT and consulting services, healthcare, digital infrastructure, and media industries. For more information about Hoplon, please visit www.hoploncapital.com.

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Autumn Nicholson
[email protected]

864-331-1296

Source: illuminafin

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