Risk Strategies Acquires Workers’ Compensation Specialist TriPoint Insurance
Adds deep expertise in alternative risk financing approaches
BOSTON, November 17, 2021 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has acquired TriPoint Insurance, Inc., a leading national specialist providing Performance Based Insurance (PBI) solutions to middle market companies in the construction, manufacturing, wholesale and skilled nursing verticals. TriPoint’s PBI solutions include large deductible program structures, captive insurance programs and other cutting-edge performance-based products. Terms of the deal were not announced.
Originally established in 1917 as a general insurance agency, TriPoint is based in Avon, Conn. An innovator in alternative risk transfer strategies for middle market companies, TriPoint pioneered what it calls Performance Based Insurance (PBI). TriPoint PBI takes a holistic approach to managing client’s overall casualty insurance costs, combining smarter claims and risk reduction management with traditional and alternative risk financing, such as high deductible plans and specialized captives.
“TriPoint is a great match for Risk Strategies,” said Edward Flanagan, Risk Strategies’ New England Regional Leader. “We share in taking a specialist approach to risk and fostering a culture that embraces innovation and collaboration. Their unique approach and performance-based insurance programs will be of great value to our clients.”
“Specialization and dedicated focus have delivered exceptional value to our clients, distinguished us in the market and steadily built our business,” said Robert Phelan, TriPoint Chief Executive Officer. “Becoming part of the Risk Strategies family means we can retain that specialist approach while gaining access to new capabilities and expertise at national scale.”
As part of Risk Strategies, TriPoint’s expertise will be integral to the National Casualty Practice and deployed across all relevant industry and specialty practices. With its focus on claims management and risk reduction, TriPoint experts will also work closely with the Risk Management Services and Consulting Safety Services groups to bring additional capabilities to existing clients and develop new opportunities to build business.
To learn more about Risk Strategies, please visit www.riskstrategies.com
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco. RiskStrategies.com.