ISO is one of the largest international
student health insurance managers in the world
CONSHOHOCKEN,
Pa., July 30, 2024 /PRNewswire/ -- NSM
Insurance Group, a global specialty insurance provider with more
than $1.8B in premium across 25+
niche insurance programs, today announced that it has acquired ISO
Student Health Insurance. Since 1958, ISO has offered accident and
sickness insurance plans specifically designed for international
students and scholars studying outside of their home country and
traveling to the United
States.
"We are thrilled to welcome ISO to our growing
family of travel insurance brands," said Bill McKernan, President of NSM Insurance Group.
"ISO is the market leader in student travel insurance and has
established an amazing direct-to-consumer distribution strategy.
Jacob and his team have built a tremendous business and operating
model and we look forward to supporting their continued growth by
leveraging our cutting-edge resources and technology and global
distribution channels. The future is certainly bright for ISO and
NSM."
ISO delivers affordable and accessible
international insurance to more than 3 million students in over 200
countries. ISO has also partnered with over 2,600 top universities
to enroll students in ISO products and maintains strong
relationships with international student advisors and risk
managers. Through a digital enrollment platform, ISO delivers
a seamless purchasing experience, multilingual services and robust
plan options for its customers.
"We're energized to become a part of NSM's
burgeoning portfolio of leading travel insurance brands. For over
60 years, we have remained laser focused on serving a target
demographic no other provider can match and building a highly
reputable brand based on deep industry relationships, a range of
product offerings and fast and reliable customer service," said
Jacob Harel, Chairman of ISO. "I am
confident NSM has the capacity and resources to enable ISO's
continued growth through product development and geographic
expansion."
"The ISO team is delighted to join forces with
NSM and build on our legacy of delivering the best health insurance
offerings for international students — pioneered and managed by
current and former international students," added Stephanie Lin, CEO of ISO.
Over the past 34 years, NSM has developed a
winning formula for building the industry's most
successful and sustainable insurance programs in niche sectors,
consistently outperforming competitors and driving industry-leading
growth and profitability. This acquisition marks NSM's fourth
acquisition in the travel space over the last nine months. In
October 2023, NSM acquired Envisage
International, a leading provider of global health and travel
insurance for international students and cultural exchange
participants. In May 2024, NSM signed
a definitive agreement to purchase two travel insurance brands,
AllClear Travel Insurance and InsureandGo. NSM remains
committed to pursuing strong-performing companies in the travel
insurance space as the company looks to become a dominant player in
the industry.
For more information about NSM or for investment
opportunities, please visit nsminc.com.
About NSM Insurance Group
NSM Insurance
Group is a global specialty insurance provider, exclusively focused
on building successful insurance programs. For more than 30 years,
NSM has been committed to delivering industry-specific insurance
programs that help agents meet the unique needs of their customers
and fuel market growth through innovative development,
underwriting, distribution and claims expertise. The company has
built more than $1.8 billion in premium across 25+
specialty insurance programs and brands around the world focused on
collector cars; student health and travel; social services and
behavioral health; addiction treatment; coastal condominiums;
towing and garage; trucking; sports and fitness; professional
liability for contractors, architects and engineers; habitational;
commercial and residential contractors; medical stop-loss and
managed care; staffing; and workers' compensation. For more
information on NSM, visit nsminc.com.
About ISO Student Health Insurance
ISO
Student Health Insurance (ISO), founded in 1958 and headquartered
in New York City, is an insurance
brokerage specializing in health insurance solutions for
international students. As such, ISO acts as plan administrator,
broker and manager of the high-quality insurance products available
for international students, scholars and their dependents during
their course of study in the U.S. For more information, visit
isoa.org.
Media Contacts:
Leanne Scott Brown
Head of Marketing
& Corporate Communications
NSM Insurance Group
lscottbrown@nsminc.com
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SOURCE NSM Insurance Group