INSpire Insurance Solutions Announces Richard "Dic" Marxen as CEO
Mr. Pergande stated, "Last September, I assumed the responsibilities of the CEO as part of the plan for fixing the company. That plan included hiring a new CEO once three milestones the Board agreed to had been achieved. INSpire needed three things to be successful: 1) the right management team, 2) a partnership with a big player in the insurance industry that would help INSpire sell by convincing existing and new customers that we will be around long term, and 3) a stable financial condition. Over the past year, INSpire has achieved those three milestones. The management team was rebuilt, a strategic partnership with Lockheed Martin was established, and we have a solid plan for stabilizing the Company's financial position.
"With this accomplished, the Board agreed it was time to hire an insurance industry veteran to take the Company forward. Dic Marxen is a dynamic leader and proven business builder. He has a vision that will lead to the profitable growth of INSpire. His industry contacts and strong foundation in the property and casualty industry will be invaluable as we continue to build our company. "
As Chairman, Mr. Pergande will focus on strategic planning issues for the Company which will include: a 5 year forecast and financial plan, completing INSpire's upcoming rights offering to get additional funding into the Company, and building strategic alliances.
Mr. Marxen has thirty years experience creating or turning around insurance software development companies. He is founder and CEO of Connective Technologies, Inc., a profitable software development company providing EDI and Web-enabled solutions to eighteen P&C insurance carriers. Last year, he served as CEO of Wheatley Insurance Systems and ultimately assisted in the successful sale of the software company to AIG. Earlier, he was founder and CEO of Marxen & Associates, a consulting and investment firm specializing in turnarounds. He was founder, CEO and President of Matrix Systems, Inc. a provider of agency management systems to independent insurance agents and brokers. Matrix installed automated systems in over 2000 agencies nationwide. Matrix was sold to Republic Insurance Group, a subsidiary of Winterthur. In addition to his insurance ventures, Marxen was also the director and board chairman for Apple Orthodontix, Inc., a public company providing practice management assistance to orthodontists.
Mr. Marxen is a graduate of Texas Tech University and he had advanced graduate studies at both Texas Tech and MIT. He has published numerous articles in computer and insurance industry publications. He regularly speaks at insurance industry functions on topics including agency management, marketing, and insurance company systems. He has held a position of Executive Professor at University of Houston for the past seven years and is also a frequent speaker and facilitator at other universities, including Rice University, for classes in electronic commerce, the insurance industry, and entrepreneurship. He has held leadership positions with many community organizations including Special Olympics, United Way, Cystic Fibrosis, Rotary International and he was a founder of the Boys and Girls Clubs of Greater Houston Foundation.
Mr. Marxen said, "I am very excited about joining INSpire. INSpire has the best software in the industry. The Company has made great strides in the past year in improving service levels and shortening the implementation process. And the entire team – Board members, senior management, and other employees I've met – is passionate about the roles they and the Company can play in delivering innovative policy and claims administration solutions. INSpire has a strong platform from which to create profitable growth. I look forward to working with the INSpire team to build sales, streamline project implementation, and strengthen customer relationships."
INSpire Insurance Solutions®, 300 Burnett Street, Fort Worth, TX 76102-2799. Tel: 800-433-2452 ; Fax: 817-348-3760.