On April 6, 2022, Toronto-based AcordPay announced it had been acquired by Nashville, Tennessee-based InsurePay, an Insuretech Property and Casualty billing and payments platform. As part of the acquisition, the existing AcordPay and InsurePay teams will come together under the InsurePay brand with a united mission of delivering accurate, timely, data-driven insurance payments to the North American insurance market. With this acquisition, InsurePay will offer an entire suite of insurance payment solutions for collecting premiums, settling with markets, and managing claims and refunds.
AcordPay is an automated payment system provider that automates digital payments and settles receivables, payables and commissions for insurance agents, carriers and Insuretech providers.
Osler, Hoskin & Harcourt LLP advised AcordPay with a team consisting of Mark Longo, Manveer Bisla (Emerging and High Growth Companies), Dov Begun, Masoud Tasharofi (Tax), Ian Morrison, Megan Young (Corporate), Katherine Rusk (Commercial), Shaun Parker, Abigail Ywaya (Employment) and Michelle Wong (Articling Student).