NSM Insurance Group has announced the recent completion of its acquisition of Envisage International. Based in Neptune Beach, Florida, Envisage is a leading provider of global health and travel insurance plans for international students and cultural exchange participants around the world.
“The travel insurance market is booming and will continue to grow at a rapid pace – the industry is expected to reach $41 billion by 2027. We plan to capitalise on this market opportunity and become a dominant player in this space,” said Bill McKernan, President of NSM Insurance Group. “Envisage is a market leader in international education and cultural exchange insurance with a talented team, a strong client base, established revenue relationships and a state-of-the-art technology infrastructure. They are an enterprising addition to our portfolio as we look to expand our presence in international health and travel insurance.”
Envisage offers a wide range of international health and travel medical insurance products through its two brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). ISI serves colleges, universities, ESL programmes, study abroad programmes, students, teachers and scholars with A+ rated plans and best-in-class resources. EGI is the leading provider of group insurance plans to organisations in the J1 cultural exchange and global youth travel markets, offering unparalleled service and customised technology to clients around the world.
“We are thrilled to join forces with NSM to continue to grow and scale the business,” said Keith Clausen, President of Envisage International. “Over the past two decades, our dedicated and talented team has helped us grow into the force we are today, and we look forward to continuing that growth with NSM. NSM has the skills and proven track record to help ISI and EGI grow by expanding our distribution channels, further enhancing our technology platforms and extending our global market reach.”
Over the past 33 years, NSM has developed a winning formula for building the industry’s most successful and sustainable insurance programmes, consistently outperforming its peers and delivering industry-leading growth and profitability over the past four years. This latest acquisition adds to NSM’s robust portfolio of specialty insurance programs and brands for the commercial P&C and personal lines industries, backed by the company’s state-of-the-art resources, including IT, operations, marketing, HR and finance.
