ReSource Pro Acquires Lowry & Associates, Inc.; Adds Premium Audit and Underwriting Survey Capabilities to Serve P&C Insurance Carriers.
NEW YORK — September 3, 2024 — ReSource Pro, a leading strategic operations partner to insurance organizations, successfully completed its acquisition of Lowry & Associates, Inc. (Lowry) today. With over thirty-five years serving the insurance industry, Lowry is a leading independent premium audit and underwriting survey solutions provider that serves many of the largest and fastest growing carriers and MGAs in the insurance space.
“This acquisition expands ReSource Pro’s capabilities across the commercial P&C insurance space,” said ReSource Pro CEO Dan Epstein. “We are very excited about what this combination means for our customers. Together, we will bring a holistic solution to exposure management challenges faced by commercial P&C carriers and MGAs. Accurate and timely premium audit and underwriting surveys are essential to profitable underwriting.”
Lowry has grown rapidly to become a leading audit and survey provider, helping carriers meet policy holder services requirements for more than 35 years. Through their unique proprietary training program, Lowry has developed hundreds of experts who support insurance companies throughout the United States.
“Our team is thrilled to join ReSource Pro, they bring a breadth and scale that will be meaningful to Lowry customers as we continue to scale and support them in the future,” said Fred Lowry Jr., President, Lowry & Associates, Inc. “We’re happy to join forces with a company that not only shares our core values but also embodies the same dedication to innovation and excellence. This is a natural alignment of our missions, and together, we’ll create even greater impact for our clients and teams.”
Historically, premium audit and underwriting surveys have been functions with limited technology support. By acquiring Lowry, ReSource Pro aims to overcome this challenge by weaving together the best of both companies in terms of insurance knowledge, operational efficiency, technology enablement, and customer service.
The announcement comes at a time of increased recognition and growth for ReSource Pro. Earlier this year, ReSource Pro became the only company representing the insurance industry to make the Inc 5000 list of fastest growing companies 15 times. The company recently opened its first European delivery location and continues to diversify and expand its global service offerings.
About ReSource Pro
Focused exclusively on the insurance industry, ReSource Pro is a trusted strategic operations partner to insurance organizations seeking to increase their productivity and profitability. With a global team of more than 10,000 employees, ReSource Pro operates at the critical intersection of people, process, technology, and data to serve more than 1,800 clients across the carrier, broker, and MGA segments – consistently earning a +96% client retention rate for over a decade. It offers expert advisory services, proven business process management optimization and transformative data and technology solutions. It was recognized in 2024 by Inc. 5000 as one of the fastest growing companies in the US.
Morgan Partners acted as the sole financial advisor to Lowry & Associates
