BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Acrisure makes $400 million artificial intelligence buy


Brokerage Acrisure LLC on Wednesday said it had bought artificial intelligence firm Tulco LLC’s insurance practice in a $400 million deal.

Pittsburgh-based Tulco will become a “significant” minority shareholder as a result of the stock-for-stock deal, Acrisure said in a statement.

The two firms previously formed Altway Insurance, a benefits brokerage that uses artificial intelligence technology.

With the completion of the deal, Acrisure will use Tulco’s artificial intelligence capabilities across its operations, including its property/casualty business, an Acrisure spokesman said in an email.

Thomas Tull, chairman and CEO of Tulco, will be chairman of the newly created Acrisure technology group, the statement said.

Acrisure will use the Tulco capabilities for product development and the insurance sales and marketing process, the statement said.

Acrisure, which was founded in 2005, has grown rapidly through hundreds of acquisitions over the past several years. It is the 10th largest insurance brokerage in the world, according the Business Insurance’s latest ranking, and the ninth-largest broker of U.S. business.