MRI Software Acquires Multifamily Insurance Partners to Help Apartment Owners Reduce Risk and Provide Reliable Protection for Consumers

Acquisition extends the MRI Living suite of comprehensive residential solutions and enables property managers to further streamline resident onboarding and maximize compliance

Solon, Ohio – November 21, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces that it has acquired Multifamily Insurance Partners, a leader in resident insurance programs for the US multifamily rental market. The acquisition will enable property owners and operators to close insurance gaps and minimize loss by implementing resident insurance compliance programs for apartment renters. The new offering, MRI Multifamily Insurance, further streamlines the leasing and onboarding process for property owners and operators and is available through MRI Living, the company’s end-to-end suite of residential solutions.

“Acquiring Multifamily Insurance Partners enhances MRI’s comprehensive residential offering,” says David Carner, Senior Vice President of Residential Solutions for MRI Software. “It enables MRI to make resident insurance available as part of a single, fluid leasing and onboarding process that protects both property owners and residents. Offering renters insurance via online portals gives MRI clients more options for creating a fully automated system that addresses the preferences and habits of modern renters; and a tightly integrated and intuitive insurance compliance program is crucial for property owners and managers to know their buildings are protected from any risk.”

The launch of MRI Multifamily Insurance gives property managers more choice when it comes to insurance. By giving clients the flexibility to either select MRI Software’s insurance compliance program or select a provider from its extensive Partner Connect program, MRI maintains its commitment to offering clients an open and connected ecosystem where they can choose the solution that works best for them.

Jim Sweeney, Multifamily Insurance Partners Chief Executive Officer, says: “Joining a PropTech industry leader in MRI helps Multifamily Insurance Partners reach new markets and leverage the latest in leasing and onboarding technology to provide the enhanced customer experience that property managers demand. Our clients will still benefit from our longstanding expertise and industry relationships, with the added benefit of MRI’s innovation, end-to-end offering and trusted position in the market.”

Headquartered in Ohio, Multifamily Insurance Partners is a pioneer in designing and executing resident insurance programs. Over 80% of the largest multifamily owners and operators employ required insurance programs. Backed by a leading global insurance provider, Multifamily Insurance Partners has implemented programs for over a million apartment units. It provides property owners and operators with a number of benefits, including uninsured loss recovery, reduced property and casualty insurance rates, and potential ancillary income. Software Equity Group acted as the strategic advisor for Multifamily Insurance Partners.

To learn more about MRI Multifamily Insurance, register for the webinar on January 9, 2020.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
mri@platformcomms.com
+44 20-7486-4900

Rachel Antman
rachel@saygency.com
+1 212-362-5837