November 20, 2019 – Kaboodle and Policy Processing Systems Corporation (PPSC), a digital insurance ecosystem and platform provider for property and casualty insurers, today announced that its business has been acquired by a Volaris Group company (“Volaris”).
PPSC, which includes the brands Kaboodle, Insuresoft, Covenir and RedHawk, is a unique technology and service collaborative with the mission of removing the fundamental technology constraints insurers face so they can better serve their clients. Today, PPSC has over 40 insurers processing close to $5 billion in annual premiums in personal and commercial lines across all 50 states.
“We are proud of what we have achieved over the past several years with through the launch of our Kaboodle insurance collaborative featuring products from Insuresoft, Covenir, Red Hawk and our broad set of integrated partners,” said Jeff Brown, President of Kaboodle. “As part of the Volaris organization, the Kaboodle team and its clients have access to extensive resources and a global network of relationships. We believe Volaris’ successful history of acquiring and growing vertically focused software companies enables us to strengthen our current business units and accelerate the build out of our digital insurance ecosystem.”
In keeping with Volaris’ philosophy of acquire, strengthen and grow, Kaboodle maintains its independence with support, coaching and best practices from Volaris.
About Kaboodle
Kaboodle is an insurance collaborative that delivers innovative products and services to insurers by enabling insurtech startups to merge offerings with established vendors. Kaboodle shares a common vision and ownership structure with founding partners Insuresoft, Covenir, and Red Hawk. Kaboodle’s creation was the assembly of a team of industry experts with offerings aimed at removing friction from insurance processes, allowing insurers and their partners to focus on what they do best. Kaboodle is privately held, with offices in Tuscaloosa, AL, University Park, IL, and Worcester, MA. For more information, please visit www.kaboodleteam.com, or email saro.hamamah@kaboodleteam.com.
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies. As an operating group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions. Learn more at www.volarisgroup.com.
