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The acquisition will allow NSM Insurance Group to enter the travel insurance market, which is predicted to reach $41B by 2027. Bill McKernan, President of NSM Insurance Group, said: "Envisage is a market leader in international education and cultural exchange insurance with a talented team, strong customer base, established revenue relationships and cutting-edge technology infrastructure. They are an enterprising addition to our portfolio as we look to build our footprint in the international health and travel insurance space."
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Envisage offers a wide range of international health and travel medical insurance products through its two brands: International Student Insurance (ISI) and Envisage Global Insurance (EGI). ISI serves colleges, universities, ESL programs, study abroad programs, students, teachers and scholars with A+ rated plans and best-in-class resources. EGI is the leading provider of group insurance plans to organizations in the J1 cultural exchange and global youth travel market.
Keith Clausen, President of Envisage International said: "We're absolutely thrilled to join forces with NSM to help us continue to grow and scale the business...NSM has the prowess and proven track record to help ISI and EGI grow by expanding our distribution channels, further enhancing our technology platforms and expanding our global market reach."
NSM Insurance Group has developed a winning formula for building successful specialty insurance programs over the past 33 years. This latest acquisition complements NSM's robust portfolio of specialty insurance programs for the commercial P&C industry and consumer insurance — backed by state-of-the-art resources including IT, operations, marketing HR and finance.
For more information about NSM or for investment opportunities visit nsminc.com.
Filed Under: Business
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