AgencyBloc, Inc. Acquires GBS, Inc.
CEDAR FALLS, Iowa, Jan. 9, 2018 /PRNewswire/ -- AgencyBloc, an agency management system and commissions processing software provider built specifically for life and health insurance agencies, has acquired GBS, a pioneer of the Insuretech industry founded in 1979.
AgencyBloc began as a bootstrap startup in the Midwest's "Silicon Prairie", founded in 2008 by 17-year internet and technology experts Adam Lewis, Cory Schmidt, and Marc Reifenrath. The three first partnered in another internet-based company, Spinutech, in 2000. In 2008, after several years of hands-on research and development of custom solutions for GAs, they built AgencyBloc, an SaaS (software-as-a-service) platform. AgencyBloc has since become the #1 agency recommended management system for life and health agencies.
In the last three years, AgencyBloc has quadrupled their staff size, spanning two offices in Des Moines and Cedar Falls, and gained 45 percent year-over-year client and revenue growth. With this acquisition, AgencyBloc maintains their self-funded expansion.
"We couldn't be more excited about this opportunity," said Adam Lewis, President of AgencyBloc. "This acquisition is an opportunity to continue to learn and serve the needs of our industry. Our entire team is energized by this acquisition which will only add fuel to the pace at which we improve our product and services."
AgencyBloc intends to continue to improve Insuretech as the nextgen pioneers advancing Richard Seale's legacy with GBS, Inc. SaaS technologies are a leading innovation in the Insuretech industry, and AgencyBloc is proud to have been pioneers in this area.
"Adam and Cory are good guys with a great system," said Richard Seale, President of GBS. "I've seen a lot in this industry over the last several decades, and I'm confident AgencyBloc is positioned to take not only GBS clients to the next level, but any life/health agency looking to grow."
AgencyBloc is rooted in client-centric relationships and continues to be the most recommended agency management system on the market. Their team is regularly improving the product based on client feedback, providing top tier customer service via one-on-one dedicated client relationships, and an internal culture based on trust and transparency.
AgencyBloc's mission is to provide powerful solutions by making the convoluted straightforward, and to transform the organizations that use it. The acquisition of GBS is another step on that path.
About AgencyBloc: AgencyBloc helps life and health insurance agencies grow their business by organizing and automating their operations using a combination of an industry-specific CRM, commissions processing, and integrated marketing automation. For more information, contact Erica Kiefer at 866-338-7075 ext.178 or erica@agencybloc.com.
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SOURCE AgencyBloc
