Summarize and humanize this content to 2000 words in 6 paragraphs in English Equal Parts, a newly launched insurance company, has officially entered the market with $10m in acquisition capital, supported by Equal Ventures and Max Ventures. It aims to acquire agencies generating less than $5m in revenue, providing them with AI tools to streamline back-office operations. It recently completed its first acquisition and plans to finalise several more “foundational acquisitions” within the next 90 days, a press release stated. Through automation of “mundane tasks” and system integration, Equal Parts allows agents to focus on strengthening client relationships. The company’s CEO and co-founder, Mike Witte, previously founded energy services company Workrise (formerly RigUp) and grew it from a start-up to a $2.9bn enterprise in the energy sector through the integration of technology. Witte said: “Independent agencies grounded in strong relationships are the backbone of the insurance sector, and they are facing significant challenges. We believe that the future of insurance is equal parts innovation and relationships, equal parts technology and tradition – and that the winner will take both of those parts to the extreme.” The founding team includes Mike Meller, who contributed to Workrise’s small business acquisition and growth strategy, and Graham Yennie, who has experience in applied machine learning and AI implementation. Equal Parts co-founder and head of operations Mike Meller stated: “Smaller independent agencies face a paradox: growth requires additional service capabilities, but each new product or service creates exponentially more disconnected systems that must be manually bridged by people. Our technology doesn’t replace the human element. It enhances it by removing the administrative burden that so often prevents small business owners from prioritising client-focused work.” “Insurance company Equal Parts launches with $10m acquisition capital ” was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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