Integrity Marketing Group, a distributor of life and health insurance, and provider of wealth management and retirement planning solutions, has agreed to acquire Honeycutt Insurance Marketing, an independent marketing organisation.
As part of the acquisition, Tray Honeycutt, president of Honeycutt Insurance Marketing, will become a managing partner in Integrity. Financial terms of the transaction were not disclosed.
Honeycutt established Honeycutt Insurance Marketing to serve middle-income consumers by providing final expense insurance, mortgage protection and annuities.
Honeycutt Insurance Marketing said it will experience greater efficiencies through Integrity’s deep offering of centralised business services, which include technology and innovation, people and culture, finance, legal and compliance.
Additionally, the firm said it will tap into Integrity’s comprehensive InsurTech platform to better serve clients and expand its product offerings. These resources include proprietary quoting and enrolment systems, useful data and analytics, and powerful customer relationship management software, as well as access to a world-class advertising and marketing firm.
Through this partnership, Honeycutt Insurance Marketing can now offer its employees meaningful company ownership through Integrity’s Employee Ownership Plan.
Speaking of the acquisition, Honeycutt said, “At Honeycutt Insurance Marketing, we’ve always understood that the speed of the leader determines the speed of the pack. Integrity is a clear leader in InsurTech innovation, and I didn’t want our company to be left behind. Partnering with Integrity offers Honeycutt Insurance Marketing financial strength, unmatched technology and a solid infrastructure that will help ensure our business can weather storms and stand the test of time.”
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