EPIC adds Lou D'Agostino and Iron Cove Partners team

03 August 2018 Consulting.us

EPIC Insurance Brokers and Consultants has acquired risk management and brokerage Iron Cove Partners. The acquired company’s founder Lou D’Agostino will become a Principal at EPIC. He brings over 17 years of risk management and insurance broking experience to the role, with a particular depth of expertise in supporting financial services clients.

San Francisco-based EPIC Insurance Brokers and Consultants provides retail property/casualty insurance brokering and employee benefits consulting services to clients across the US. The firm has more than 1,300 employees across 39 offices in the US supporting more than 30,000 clients. EPIC is the 10th largest privately held broker in the country, and is continuing to expand through strategic acquisitions.

The firm has now added risk management and insurance brokerage veteran Lou D’Agostino and his Iron Cove Partners team. Iron Cove provides mid-market companies and high-net worth individuals with advisory support in the areas of property and casualty exposures, placing over $130,000,000 in insurance premiums across all major insurance carriers.EPIC adds Lou D'Agostino and Iron Cove Partners teamD’Agostino, who has over 17 years of experience in insurance broking, will join EPIC as a Principal in its New York office. Iron Cove will now operate as division of EPIC out of the acquiring firm’s office in Midtown. D’Agostino and Iron Cove will now report to Thomas O’Neil, Northeast Region President, EPIC.

D’Agostino formed Iron Cove eight years ago, and built up an industry-leading financial services practice. The company’s strong reputation in the hedge fund sector resulted in Best U.S. & Global Hedge Fund Industry Insurance Provider awards from publication Hedgeweek in 2017 and 2018. D’Agostino also developed risk management and insurance programs for clients in real estate, non-profit, manufacturing, retail, and technology.

Before Iron Cove, D’Agostino worked for a decade with Frank Crystal & Co., where he was a Director in the Financial Services practice. While there, he designed and placed insurance programs for a wide range of financial services companies, including hedge funds, investment advisors, securities dealers, and consultants.

"Lou and his team bring extensive experience and expertise in the Financial Services industry to EPIC,” commented Thomas O’Neil. “Lou is well-known and well-regarded throughout the Hedge Fund community. We are excited to further expand our commitment to the Financial Services sector in the Northeast and across the country with the addition of the Iron Cove team."

Before joining the insurance industry, D’Agostino was an undrafted free agent running back with the New York Jets. He believes much of his success in the insurance industry is owed to lessons he learned on the field.

D’Agostino holds a Bachelor of Arts in Finance from the University of Rhode Island, where he was captain of the football team.

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Capco launches US insurance practice

14 March 2019 Consulting.us

London-based consulting firm Capco has opened a US insurance practice. It will be led by US partner Frank Neugebauer, formerly digital chief technology officer at Genpact.

Capco’s more than 4,000 professionals provide management and tech consulting to financial services clients in the areas of capital markets, banking and payments, wealth management, and energy solutions. Now, the company has added a fifth service area with the opening of its US insurance practice. It joins existing Capco insurance practices in Canada, Asia, and South America.

“Our expansion into insurance is a natural progression of our business," Mike Pugliese, managing director and head of Capco US, said. “The insurance industry is in the process of going through a massive transformation to provide a better user experience for their customers and improve operational efficiencies. We have helped leading financial institutions outside of insurance achieve similar transformations.”

The new practice will deliver tech-centered strategy and implementation solutions to clients across the insurance domains of property and casualty (P&C), life and retirement (L&R), reinsurance, employee benefits, and distribution.

Capco launches US insurance practice

This year is expected to see strong demand for P&C, L&R, and employee benefits services due to low unemployment and a higher focus on efficiency through operational improvements. “Innovation, especially in the form of artificial intelligence and machine learning, is going to be at the heart of those efforts within insurance firms,” Neugebauer, said. Capco obviously hopes to be the company which supports financial services firms in the implementation of those emerging technologies.

Neugebauer has nearly 30 years of experience in the insurance, manufacturing, and healthcare industries, with a focus on digital transformation. During his career, he has led large-scale transformation initiatives, including systems modernization and analytics implementation.

Before his time at Genpact, he spent three years as a director in PwC’s P&C advisory services, supporting insurance clients with transformation projects, including ERP implementation and data warehousing initiatives.

Neugebauer also spent more than two years as chief information officer at schools-focused insurer United Educators, where he led significant upgrades to the company’s IT infrastructure and implemented a new policy and claims system.

He was also chief information officer at insurance firm Burns & Wilcox, as well as chief technology officer at ACORD, a non-profit that delivers data standards to the global insurance industry.

"Frank's robust experience developing innovative solutions in both the Insurance and digital space is a great asset for both our clients and our firm," Pugliese said.

The US insurance team will also include Matthew Berkowitz and Vincent Molinari, as well as a large number of experienced Capco consultants.

Related: Capco adds Bryant Fuller as Partner in Charlotte office