Main Capital Partners invests in InsurTech platform Agenium and expands into the US market

Main Capital Partners has acquired a majority stake in Agenium, continuing its expansion in the North American insurance software market.

Based in Milwaukee, Wisconsin, the company is developing a cloud-based no-code platform for the digitalization and automation of insurance processes. The focus is particularly on optimizing the entire process, from application and underwriting to the issuing of policies for new insurance contracts.

Insurers should manage processes faster and more efficiently

Agenium's platform is aimed at life insurers, providers of supplementary health insurance and pension insurers, among others.

Insurance companies can use the solution to flexibly configure their underwriting workflows and manage them in scalable cloud environments. This is supplemented by automated decision support, digital application processing and integrated case management functions. The aim is to improve risk assessments, reduce manual process steps and at the same time ensure regulatory-compliant and maintainable processes.

More than 50,000 users worldwide

According to the company, Agenium supports more than 20 leading insurance companies worldwide with over 50,000 active platform users. The technology is designed to integrate with existing and older legacy systems. In the insurance industry in particular, such integration capabilities are considered a decisive factor, as many providers continue to rely on historically grown IT infrastructures.

Growth planned through sales expansion and acquisitions

Together with Main Capital Partners, Agenium now intends to expand its sales organization in particular and accelerate the acquisition of new customers. The company also plans to further develop its platform with additional modules and integrations. At the same time, Agenium is pursuing a buy-and-build strategy in which targeted acquisitions are to expand the product portfolio.

In the long term, the company wants to provide insurers with technological support throughout the entire life cycle of a policy.

Main sees great potential in the InsurTech market

Daan Visscher, Partner and Co-Head North America at Main Capital Partners, described Agenium as an attractive growth platform within a strategically relevant insurance ecosystem.

Agenium represents an attractive opportunity to invest in a high-growth and mission-critical software platform within an attractive insurance ecosystem.

Daan Visscher, Partner and Co-Head North America at Main Capital Partners

The recurring revenues, close customer relationships and expansion opportunities in the North American market were particularly emphasized. Main intends to support growth in particular through the professionalization of the go-to-market strategy and complementary add-on acquisitions.

Agenium expects increasing demand for modern underwriting solutions

Mike Risley, CEO of Agenium, also sees the partnership as an important growth step.

This partnership will allow us to further invest in our platform, expand our product capabilities and better serve both existing and new customers.

Mike Risley, CEO Agenium,

The company will continue to invest in its platform, expand product capabilities and better support existing and new customers. At the same time, the demand for modern solutions for new business processes and digital underwriting in the insurance sector is increasing significantly.

With the support of Main, international expansion is now also to be selectively driven forward.