August 30, 2022
Acquisition brings new carriers, lines of coverage, and expanded voluntary benefits offerings to clients of both companies
DALLAS, Aug. 30, 2022 /PRNewswire/ -- BenefitMall, the leading provider of next-generation broker services, today announced the acquisition of Mutual Med, a Davenport, Iowa-based insurance distributor providing sales counseling and support for benefits agents serving large groups, small groups, and individuals.
With complementary carrier relationships and extensive voluntary benefits offerings, the acquisition of Mutual Med allows employer clients of both companies to access a wider range of carriers and networks. The addition of Mutual Med to the BenefitMall footprint strengthens the company's presence in the Midwest and furthers BenefitMall's expansion goals for 2022-2023.
"Mutual Med's strong reputation and dedication to providing brokers with expert guidance and competitive benefits offerings make it a great addition to BenefitMall," said Scott Kirksey, CEO of BenefitMall. "We enthusiastically welcome president and CEO Todd Vershaw, COO and CFO Rob Edel, and the rest of the Mutual Med team as we expand our mission to offer brokers the fastest, easiest, most trusted benefits selling experience."
Mutual Med will operate as a division of BenefitMall, continuing under its current name and leadership. In addition to serving current BenefitMall markets of Georgia and Texas, the acquisition adds new markets of Alabama, Illinois, Iowa, North Carolina, North Dakota, South Carolina, South Dakota, and Tennessee to BenefitMall's service territory. Their combined presence provides service in 24 states to agencies selling in 48 states.
"In joining the BenefitMall family, we found teammates who share our belief that human expertise is an essential part of guiding our clients through an ever-changing industry," said Todd Vershaw, president and CEO of Mutual Med. "BenefitMall has made incredible investments in developing technology and programs that our shared brokers nationwide will now be able to access."
For more information, please visit www.benefitmall.com.
About Mutual Med
Founded in 1986, Mutual Med has grown from a one-person operation to a thriving firm partnered with brokers across 10 different states. Headquartered in Davenport, Iowa, Mutual Med focuses primarily on rural markets with an emphasis on small group business, as well as individual and large group. Mutual Med has a reputation of premier broker and customer support and takes pride in being "brilliant at the basics," including sales guidance, quoting/enrollment services, and renewal processing. www.mutualmed.com
Headquartered in Dallas, BenefitMall is the largest general agency partnering with a network of 20,000 Brokers to deliver employee benefits to more than 140,000 small and medium-sized businesses. BenefitMall uniquely leverages innovative technology backed by human expertise to provide the fastest, easiest, and most secure benefits selling experience for carriers, brokers, and their clients.
On August 8, CRC Group signed a definitive agreement to acquire BenefitMall in a transaction expected to close in the third quarter of 2022, subject to satisfaction of customary closing conditions. More information is available at www.benefitmall.com.