December 07 / News
National Insurance Company Marsh USA has Purchased Torrent Technologies, a Kalispell-based Flood Insurance Business
By BRIANNA LOPER/The Daily Inter Lake
The acquisition, which was completed last month, brings Torrent’s 100 employees under the Marsh umbrella. However, Travis Pine, founder and former chief executive office of Torrent, said those jobs will stay local, regardless of the national nature of the now-owners.
“The company will stay Kalispell-based,” Pine said during a phone interview. “[Marsh] understands the value that a community-based company has to offer, and they’re not looking to change that.”
Ian Macartney, managing director at Marsh, agreed with Pine, saying that the company sought out Torrent because of its specific company atmosphere and down-to-earth vibe.
“Culture is important with any company,” Macartney said. “We’re going to continue that same sense of community, because it’s a major part of any organization. It’s a no-brainer.”
Torrent was founded in 2005 in Kalispell by Pine and Theresa “TJ” Johnston, who aimed to amp up the flood insurance industry by utilizing new technology. The company gained its first client in 2007, a nationwide insurance company, and since has added 24 other clients.
The two founders sought to build an environment that was conducive to creativity and a business employees wanted to work for, day after day.
“There’s not usually an option for this kind of work in [Montana],” Pine said. “We’re looking to bring people who had to leave the state, back home.”
Pine and Johnston are both native to Kalispell, and Pine attended school with Torrent’s chief technology officer, Blake Stout. From the beginning, the company strove to be involved in the community and make its employees feel at home.
According to Pine, the company has continually been involved in the community, from donations to Cayuse Prairie School to entering two boats in the Dragon Boat race each year.
“We’re there, we support, we donate, we volunteer, we give out time,” Pine said. “Marsh understands that, and that’s not going to change.”
Torrent and Marsh have worked together multiple times over the past several years, and found that the companies’ styles meshed well together.
“Our goal is to continue to grow organically, and this felt like a natural acquisition for us,” said Macartney. “Torrent is the best in their class, the best provider.”
Marsh is a leading global insurance broker, and works with clients and businesses on insurance deals.
“We are a smaller company, so we’re excited about the resources and the knowledge that Marsh will add to our services,” Pine said. “It will help with newer growth, and kick our work into high gear.”