Westwood Insurance Agency LLC Announces Strategic Collaboration With Landsea Homes

Rhea-AI Summary

Westwood Insurance Agency , an indirect subsidiary of The Baldwin Insurance Group, Inc., has announced a strategic collaboration with Landsea Homes. This partnership will allow Landsea Homes to offer home insurance to their customers through Landsea Insurance Agency using Westwood's technology platform. Westwood, specializing in personal lines insurance for the homebuilding industry, works with more than half of the top 40 homebuilders in the US, offering insurance to over 99% of the communities built by them. The collaboration aims to enhance the insurance buying experience by providing efficient home insurance solutions early in the home-buying journey.

Positive

• The strategic collaboration between Westwood Insurance Agency and Landsea Homes will allow Landsea Homes to offer home insurance to their customers through Landsea Insurance Agency, enhancing the insurance buying experience.

• Westwood's recognized expertise in procuring insurance for new construction homes, working with top homebuilders, positions them as a leader in the industry.

• Westwood offers a fast and easy home insurance experience, providing personalized quotes within 24 hours and enabling homebuyers to secure a policy online within minutes.

Negative

• While the collaboration aims to streamline the insurance buying process, there may be challenges in integrating technology platforms and ensuring a seamless customer experience.

WOODLAND HILLS, Calif.--(BUSINESS WIRE)-- Westwood Insurance Agency LLC (“Westwood”), an indirect subsidiary of The Baldwin Insurance Group, Inc. (“Baldwin”) (NASDAQ: BRP), a leading full-service agency specializing in personal lines insurance for the homebuilding industry, announced today a new strategic collaboration with Landsea Homes, a publicly-traded residential homebuilder.

This relationship will enable Landsea Homes to offer home insurance to their customers through Landsea Insurance Agency by using Westwood’s technology platform. This new offering enhances the insurance buying experience by using an embedded model that allows Landsea Homes’ customers to efficiently secure home insurance early in the home-buying journey. With recognized expertise in procuring insurance for new construction homes, Westwood works with more than half of the top 40 homebuilders in the United States and can offer insurance to more than 99 percent of the communities built by these homebuilders.

"We are thrilled to collaborate with Landsea Homes, a company that shares our commitment to providing an excellent customer experience at every step of the home-buying process," said Alan Umaly, President of Westwood. "This collaboration aligns with our mission to provide competitive home insurance solutions to our clients, even in a hard market, and to help our builder partners and their buyers close on time.”

As the preeminent insurance agency for the homebuilding industry, Westwood offers a fast and easy home insurance experience. Once homebuyers sign a contract to buy a new home, they can receive a personalized quote within 24 hours and can secure a home policy online within minutes.

“With the latest launch of Landsea Insurance Agency, our hope is to help make the process of finding competitive insurance rates as seamless as possible, whether you’re buying your first home or your fifth,” said Mike Forsum, President and Chief Operating Officer of Landsea Homes.

About Westwood Insurance Agency

Established in 1952, Westwood Insurance Agency LLC is a leading, full-service personal lines agency specializing in builder-sourced homeowners insurance. Licensed in all 50 states, Westwood has served more than one million homeowners through relationships with leading U.S. homebuilders and top insurance companies. Westwood’s unique platform facilitates seamless home closings by connecting builders, carriers, lenders and homebuyers with click-to-bind technology. For more information, please visit www.westwoodinsurance.com.

About Landsea Homes Corporation

Landsea Homes Corporation (Nasdaq: LSEA) is a publicly-traded residential homebuilder based in Dallas, Texas that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation’s most desirable markets. Landsea Homes was honored as the Green Home Builder 2023 Builder of the Year, after being named the 2022 winner of the prestigious Builder of the Year award, presented by BUILDER magazine, in recognition of a historical year of transformation.

For more information on Landsea Homes, visit: www.landseahomes.com.

ABOUT THE BALDWIN GROUP

The Baldwin Group, the go-to-market brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BRP) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a team of dedicated entrepreneurs and insurance professionals, we have come together to help protect the possible for our clients. We do this by delivering bespoke client solutions, services, and innovation through our comprehensive and tailored approach to risk management, insurance, and employee benefits. We support our clients, colleagues, insurance company partners, and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. The Baldwin Group proudly represents more than two million clients across the United States and internationally. For more information, please visit www.baldwin.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Baldwin’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Baldwin’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.

Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, those described under the caption “Risk Factors” in Baldwin’s Annual Report on Form 10-K for the year ended December 31, 2023 and in Baldwin’s other filings with the SEC, which are available free of charge on the SEC's website at: www.sec.gov, including those risks and other factors relevant to the business, financial condition and results of operations of Baldwin. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Baldwin or to persons acting on behalf of Baldwin are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Baldwin does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240502940154/en/

MEDIA RELATIONS

Anna Rozenich, Senior Director, Enterprise Communications, The Baldwin Group

630.561.5907 | Anna.rozenich@baldwin.com



INVESTOR RELATIONS

Bonnie Bishop, Executive Director, Investor Relations, The Baldwin Group

813.259.8032 | IR@baldwin.com



MEDIA RELATIONS

Westwood Insurance Agency

Mira Choi, Communications Manager, Westwood Insurance Agency

951.283.7801

mira.choi@msimga.com



Landsea Homes

Michelle Byrge

Vice President of Corporate Sales & Marketing, Landsea Homes

801.643.3902

mbyrge@landseahomes.com

Source: The Baldwin Insurance Group, Inc.

FAQ

What is the strategic collaboration announced by Westwood Insurance Agency ?

Westwood Insurance Agency announced a strategic collaboration with Landsea Homes to offer home insurance through Landsea Insurance Agency using Westwood's technology platform.

Who is involved in the collaboration with Westwood Insurance Agency ?

Landsea Homes, a publicly-traded residential homebuilder, is collaborating with Westwood Insurance Agency

What does Westwood Insurance Agency specialize in?

Westwood Insurance Agency specializes in personal lines insurance for the homebuilding industry.

How fast can homebuyers receive a personalized quote from Westwood Insurance Agency ?

Homebuyers can receive a personalized quote within 24 hours from Westwood Insurance Agency

How can homebuyers secure a home policy online with Westwood Insurance Agency ?

Homebuyers can secure a home policy online within minutes through Westwood Insurance Agency