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- RE: East Coast Reinsurance Software Solutions Company
- Contact: Rick Carlson
- License #: 1820673
Quick Facts
| Asking Price: | Not Disclosed | |
| Annual Revenue: | $155,000 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $110,000 | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1984 | |
| Employees: | 1 | |
| BBN Listing #: | 982921 | |
| Broker Reference #: | 1346 SOFTWARE |
Business Overview:
Since 1984, The Company has provided dependable and low-cost reinsurance systems. With over 60 installations worldwide, the staff has unmatched experience in conversions and installations – which boast a 100% success rate.
From one user to one thousand, the software can be configured to size and need. Customers' IT expenses are a fraction of competitors. In fact, this Company’s software is so easy to use and maintain that most smaller users have NO in-house IT staff. Even the largest multinational customers have only a handful of staff supporting this software.
There are now installations in Europe, Asia, Bermuda, the USA, and Canada, and offices in the US (New Jersey and Florida).
The Company’s very first customer is still using the original system as the company grew from a relatively small reinsurer to one of the largest in the US.
NDA required to receive comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
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Property Features and Assets:
The Company operates remotely; a physical location is not essential.
Market Competition and Expansion:
Competition: Primary Competitors: Sapiens, Duck Creek. Competitive Edge: Personalized service and affordability.
Growth & Expansion: A new owner can update the User Interface to modernize the product and attract new clients. Update the website and invest in Google Ad Words and other marketing to drive traffic.
A larger company with the proper resources can fund the rewrite of software in a current technology that can be marketable to current clients as well as potential new sales. There are currently active technical support contracts. There are also requests for new work to be done which generates consulting revenue that a Buyer can fulfill.
Reason for Selling:
The owner is planning for succession due to aging and ensuring proper care of the client base.Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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