Risk Strategies, a specialist insurance brokerage and risk management firm, has announced that it has acquired Specialty Insurance Solutions (SIS). The acquisition expands Risk Strategies’ capabilities in its national student health practice.
SIS was founded in 2007 by Paul Mayo, who also serves as the company’s president. It offers specialty products and services primarily focused on comprehensive student health insurance programs, sport accident insurance, and student travel insurance. Jeff Struckle, co-owner of SIS, joined the company in 2010 to build out its intercollegiate sports program.
“Risk Strategies offers focused expertise and deep resources in the education market for colleges and universities, especially as they and their students face these challenging times,” said Terry Lyons, managing director of Risk Strategies’ Student Health Division. “Paul and his team have expertise that will help us grow and continue to expand our offerings for our national student health practice.”
SIS is a broker, consultant and managing general underwriter, and can connect clients with a carrier-based program or build custom programs to meet specific needs. The company also offers specialty support services, including setting up for billing and coding as a provider, contracting with network carriers as a preferred provider organization, and establishing a student help desk.
“Our success is clear proof that specialty focus is an advantage in the market and for clients,” Mayo said. “Given their specialty approach to risk management, joining the Risk Strategies family is a natural fit.”
“Risk Strategies’ commitment to, and investment in, the student health space gave us real confidence that our business and our clients would benefit from this decision,” Struckle said. “The collaborative culture of Risk Strategies also offers our people exciting career possibilities as our firms come together.”
The acquisition builds on Risk Strategies’ long-term focus and growth in the education sector. The company’s student health practice includes industry specialists Academic Health Plans and University Health Plans, who develop comprehensive health programs for higher education institutions.