Insurance Systems Inc. Appoints Michael Roe and Neil Spector to Board of Directors 

Toronto, Ontario, Canada – April 24, 2025 — Insurance Systems Inc. (“ISI”), a NexPhase Capital, LP (“NexPhase” or “NPC”) portfolio company and leading provider of enterprise software solutions for the insurance industry, today announced the appointment of Michael Roe and Neil Spector to its Board of Directors.  

Mr. Roe and Mr. Spector bring deep expertise and leadership experience that will support ISI’s long-term focus on scaling its impact and driving new product development for insurance carriers. Mr. Roe has more than 30 years of experience in vertical market software innovation and value creation, and Mr. Spector has more than two decades of experience in insurance technology and analytics leadership.  
 
“I am thrilled to welcome Mike and Neil to our Board. Their collective industry and software development experience, coupled with their deep understanding of our customers, business and opportunities, will be instrumental in advancing our strategic growth objectives,” said Casey Kretz, CEO and member of the Board of Directors of ISI. “With Mike’s demonstrated track record of driving growth and innovation at insurance software companies, and Neil’s decades of experience developing cutting-edge underwriting and analytics solutions, I am confident they will play a pivotal role in strengthening ISI’s position as a leading insurance software provider.” 

“I am excited to join ISI’s Board at such a crucial time of growth,” said Mr. Roe. “Over the course of my career, I have shared ISI’s focus of constantly innovating and delivering customer-focused solutions, and I look forward to collaborating with the entire team to support ISI’s mission of helping carriers navigate a rapidly evolving industry.” 

“It is an honor join ISI’s Board and utilize my experience in analytics and underwriting to help carriers transform their insurance operations,” said Mr. Spector. “ISI’s commitment to delivering configurable, data-driven technology is essential to meeting the needs of modern insurers, and I am eager to work closely with Casey and the ISI team to help guide the company’s next phase of growth.”  

About Michael Roe 
Mr. Roe brings more than 30 years of leadership in vertical market software innovation and value creation. He currently serves as an Operating Partner at NexPhase, a thematically driven and operationally focused private equity firm. Mr. Roe previously co-founded and served as President of FAST, a pioneering life insurance software provider acquired by Verisk Analytics in 2019. He also served on the board of FirstBest Systems until its acquisition by Guidewire Software in 2016, and was the founder and CEO of NaviSys, which was acquired by Accenture in 2006. His deep domain expertise and operational track record will provide valuable strategic guidance to ISI’s strategic growth initiatives. 

About Neil Spector 
Mr. Spector brings more than 20 years of leadership in insurance technology innovation, analytics and underwriting. He spent majority of his career serving at Verisk Analytics, most recently as the President of Underwriting Solutions, where he led the development of transformational products used by insurers across personal and commercial business lines. Earlier in his career, he held senior roles at AscendantOne and ADP. Mr. Spector brings a wealth of experience in product development, analytics, and go-to-market strategy in the insurance industry.  

About Insurance Systems Inc. 
Founded in 1997, ISI and its team of insurance professionals are dedicated to developing and implementing innovative software products for the property and casualty insurance industry. ISI’s flagship product, ‘ISI Enterprise’, is ideal for small to mid-size commercial and specialty lines carriers ranging from $10 to $400 million in premiums written annually. Headquartered in Toronto, Canada, the company has a diverse client base of property and casualty insurers. For more information about ISI, visit www.insurancesystems.com. 

About NexPhase Capital  
NexPhase Capital is a thematically driven and operationally focused lower middle-market private equity firm that makes control investments in growth-oriented and capital-efficient companies within three distinct industry verticals: healthcare, software and consumer. NPC partners with companies that have reached a growth inflection point and are seeking a value-added partner to help navigate the company’s “next phase.” The NexPhase team has extensive industry and operational experience and NPC’s Partners have invested together for over 15 years. NexPhase has completed over 100 investments, including add-ons, and targets control equity investments between $40 million and $150 million. Since inception, NexPhase has raised and managed approximately $2.6 billion of capital. For more information, please visit www.NexPhase.com. 

Insurance Systems Inc. Press Contact 
Cameron Scott  
Vice-President, Sales & Marketing  
Insurance Systems Inc.  
T | 647-291-4307   
E | cscott@insurancesystem.com