WAYZATA, Minn.--(BUSINESS WIRE)--Trean Insurance Group (TIG), a full-service property and casualty insurance and reinsurance company delivering comprehensive insurance solutions through its family of highly rated and broadly licensed insurance companies—Benchmark, 7710, and American Liberty—has successfully completed the implementation of Origami Risk’s multi-tenant core property and casualty solution suite. This milestone marks a significant transformation for Trean's monoline workers’ compensation business, enhancing policy administration, billing, and claims functionality across its nationwide operations. The implementation enables Trean to consolidate multiple databases and systems into a single platform, fulfilling their commitment to excellence, efficiency, and reliability to meet the evolving needs of their clients. Completed in two phases, Trean went live with Origami’s claims solution in all 50 states in only eight months, followed by the implementation of policy administration and billing functionality across 49 states by the end of the fourth quarter 2023. “The Origami solution is central to our organization’s goal of combining underwriting, claims, loss control, and analytical expertise to provide customized insurance for successful, long-lasting partnerships,” said Julie Baron, CEO, Trean. “A single platform for policy, billing, and claims provides Trean with increased control and autonomy over our core system while driving down administration costs and enhancing user experiences for our internal claims team and agent/broker partners.”

WAYZATA, Minn. and NEW YORK, April 21, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (“Trean” or the “Company”), a leading provider of products and services to the specialty insurance market, today announced the completion of the acquisition of the Company by funds managed by Altaris, LLC (collectively with its affiliates, “Altaris”) for $6.15 per share in cash. The transaction was announced on December 16, 2022 and received approval from stockholders on April 18, 2023. As a result, Trean’s common stock ceased trading and will no longer be listed on Nasdaq.“We are thrilled to begin the next chapter of Trean’s successful partnership with Altaris, which will continue to enhance our longtime focus on strong partnerships, underwriting discipline and exceptional claims management to generate long-term growth,” said Julie Baron, President and Chief Executive Officer of Trean. “Starting with their original investment in 2015, Altaris’s healthcare expertise and support have been critical in helping to drive our Company’s transformation to become a leading national provider of workers’ compensation and other specialty insurance services