INSpire, LGMT Create Alliance

Fort Worth-based INSpire Insurance Solutions has entered into a 10-year agreement with Lockheed Martin Global Telecommunications (LMGT) that creates a strategic alliance to serve INSpire’s existing customer base and to generate new information technology opportunities in the property and casualty insurance marketplace. As part of the alliance, Lockheed Martin will manage all of INSpire’s infrastructure services, including data centers, telecommunications systems, help desk operations, desktop support services and asset management. The companies expect to leverage their capabilities, such as INSpire’s policy and claims administration outsourcing and software solutions and Lockheed Martin’s global information technology expertise, to expand their combined share of the policy and claims administration industry. P/C carriers in INSpire’s target market spend an estimated $10 billion annually on policy and claims administration, with most of these services performed in-house. Lockheed Martin’s ability to attract tier-one carriers expands this market even further. With the insurance marketplace representing a targeted strategic growth area for the company, Lockheed Martin is committing significant resources to the venture. According to John Pergande, chairman and CEO of INSpire, Lockheed Martin will provide infrastructure improvements expected to total $5.4 million over the life of the agreement, and has promised joint business development efforts as well.