Lockton acquires E3 Solutions in move to expand into the Western U.S.
Seeking to expand in the Rocky Mountain states, Lockton Companies, the world’s largest independently owned insurance broker, has acquired enrollment and benefits administration solution provider E3 Solutions.
The acquisition will allow Kansas City-based Lockton to grow its presence in the U.S. Mountain West region, where a sizable portion of E3’s client base resides. Based in Greenwood Village, Colorado, E3 services employer firms with 50 to 3,000 employees nationwide. Pricing for the deal was not disclosed.
The two companies entered merger talks one year ago, as Lockton was evaluating different options for a bigger push into the western states. “We had an underserved employer market as it related to easing benefit administration and benefit plan strategy,” says Brock Squire, chief operating officer for Lockton Mountain West Series, a Lockton division that focuses on the Western U.S.
As part of its push west, E3 will expand its mobile technology offerings for Lockton clients. “We have our eyes on many developments [including] voluntary enrollment, mobile language and decision support tools,” says Jeff Connick, a former E3 Solutions principal and senior vice president, who is now a Lockton vice president.
“Any client that needs efficiencies in their benefit administration platform or in their enrollment and benefit communication strategies and product selection—those are the clients that need our help,” Connick adds. “Over time, we think we can develop packaged solutions that produce favorable results.”