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
SOURCE NSM Insurance Group
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