On February 29th, Keal Technology announced its acquisition by Vertafore. Keal is a leading provider of broker and commercial management systems in Canada, one widely used by our membership base. Vertafore, based in the US, helps insurance agencies, carriers and MGAs harness the power of software and is the largest insurance technology company in North America.

We had the opportunity to chat with Patrick Durepos, President of Keal, to ask a few questions:

IBAO: How will this acquisition benefit brokers?
Durepos: Without question, this acquisition will bring more technology to brokers, faster. The number of products Vertafore brings to the table eliminates the need for Keal to reinvent the wheel and develop them again. Keal brokers will have access to more choice when it comes to technology, and that technology will come to market more quickly. This acquisition will also level the playing field – Verafore is the largest software provider in North America. There will now be two large organizations in the broker technology space that will compete, and competition is good!

IBAO: The Ontario broker community knows Keal as a family-run, Canadian business with a large appetite for industry collaboration. Will this change?
Durepos: Not at all. I am a broker at heart. I still have my licence! Keal was built and influenced by the Canadian way of running a successful brokerage. This will continue as our leadership team remains the same. Vertafore is giving us leeway to operate the business the way we‘ve operated before, with additional support and resources. With respect to industry collaboration, Keal has always been a leader in the Canadian technology integration space (EDocs) because we understand the why and the need to do it. At the end of the day, our philosophy of staying involved with brokerages and working with brokerage associations won’t change.

IBAO: Will brokers feel any financial impact as a result of this acquisition?
Durepos: Keal can now rely on Vertafore’s larger research and development department. By sharing costs, we’re hoping to lower the cost of technology, so financially, for brokers, it will be positive.

The acquisition is expected to close by the end of March 2016. Click here for more detail.

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