Global insurance broker Acrisure has announced plans to lay off about 400 accounting employees next year as it moves to adopt more advanced technologies and automation across its operations.
The company said in a statement that the decision reflects broader changes affecting many industries. “These changes are necessary for us to remain competitive, strong, and able to deliver what our clients expect from us,” Acrisure said.
Acrisure added that it will provide outplacement support to employees affected by the job cuts.
The company, which employs about 2,000 people from its Grand Rapids headquarters, said it continues to hire for various roles despite the layoffs. Acrisure operates in 24 countries with approximately 19,000 employees. According to its website, the company leverages “AI-driven recommendations, digital collaboration workflows and enriched data” to enhance performance.
In a recent interview, Acrisure Re managing director David Sowrey noted that the role of brokers is constantly changing amid digital transformation. “It’s a broker’s job to be proactive and all good brokers are, but one thing that we see is that the broking world is continuously evolving, the services required of brokers expand every year,” he told BestWire.
Acrisure ranked as the eighth-largest global broker last year, generating $4.59 billion in total revenue, according to Best’s Review annual ranking.
The decision comes as the company builds on its technology-driven strategy. In May, Acrisure secured $2.1 billion in funding from Bain Capital and other investors, raising the firm’s valuation to $32 billion, in part to support expansion into non-insurance services such as payroll, cybersecurity, and employee benefits. In another major deal, Acrisure agreed to acquire Global Payments’ payroll unit, Heartland Payroll Solutions, for $1.1 billion—an acquisition intended to bolster its fintech ambitions.
Industry observers see the layoffs as a signal to markets that Acrisure is actively validating its AI and automation thesis. Alexander Calderone, president of a valuation consulting firm, said the cuts “signal a proof of concept … suggest to the market … that the technology has a real world use case.” Meanwhile, a strategy professor at Grand Valley State University noted that streamlining operations now may “add to (Acrisure’s) value ahead of an IPO.”
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