K2 Insurance Services Acquires Loss Run Pro

K2 Insurance Services is pleased to announce that it has recently invested in Loss Run Pro, LLC. Headquartered in Missoula, MT, LRP is an Insurtech that was founded in early 2020 by Reghan Brandt. Since its founding, the company has gained nationwide recognition, attracting a broad range of retail brokers to its platform.

Source: K2 Insurance Services | Published on April 1, 2021

K2 Insurance

K2 Insurance Services, LLC was formed in 2011 and led by CEO Robert Kimmel, in partnership with investment firm Lee Equity. K2 shared that it has assembled a core group of specialty managing general agents (MGAs) across the country, to establish a leading underwriting and distribution franchise in the program insurance market. To this end, K2 continues to look for quality acquisitions and growth opportunities throughout the United States.

Regarding Loss Run Pro's effectiveness, K2's President, Mark Smith, stated, "After seeing demos of countless 'Insurtech' tools, Loss Run Pro is the best I have seen because it uses technology to solve meaningful issues of the insurance placement process and simplifies that process for all parties." K2's CEO, Robert Kimmel echoed this sentiment: "As CEO of K2, I am always looking for innovative technologies and solutions that can improve our customers' experience; LRP was a logical fit for the specialty market."

LRP gained early success when it was accepted into BrokerTech Ventures' (BTV) 2020 Accelerator. BTV is a group that consists of thirteen of the most innovative insurance agencies, representing over $2 billion in collective agency distribution. "Despite the challenges 2020 posed, LRP was able to thrive and work closely with many of the top 100 agencies to perfect and improve the LRP platform. Being part of BTV, and the early-stage investment from K2, will propel us to the next level," said Brandt.

Brenden Corr is the Senior Director of Business Development for LRP and will work closely with Brandt to expand and build relationships with carriers and brokers, both nationally and internationally. Voicing her approval of the new investment with K2, Brandt said, "Robert Kimmel and the entire management team of K2 is dynamic, innovative, and forward-thinking. They have believed in LRP from our first demo and add significant depth to our company. The rocket ship is just taking off."

About Loss Run Pro, LLC

LRP is a simple and easy-to-use subscription software service. LRP simplifies the loss run process by automatically generating and delivering loss run requests. LRP also provides tracking and other useful tools to improve this process. LRP's innovative technology allows loss runs to be generated, signed, and delivered electronically, via a computer or mobile device. LRP stated that its goal is to eliminate the antiquated practice of processing loss runs manually. LRP has provided additional information about its staff and products at https://lossrunpro.com/.

About K2 Insurance Services

K2 Insurance Services is an insurance services holding company that owns and controls a diverse set of specialty program administrators. Through its MGAs, K2 markets, underwrites, and services over $1 billion annually in niche commercial and personal insurance premiums. From workers' compensation for high hazard exposures - such as commercial transportation - to personal lines coverage for manufactured homes, K2 helps insure clients across a diverse array of risks and industries. K2 is headquartered in San Diego, California, and is a privately held company. Further information about the company can be found at www.k2ins.com.