BRM and Sands Point buy Interactive Medical Systems

BRM Specialty Markets and Sands Point Risk said Sept. 24 that they acquired Interactive Medical Systems, a third-party administrator for self-funded employers. The deal ties BRM’s medical stop-loss underwriting to IMS claims administration as the firms push to give clients a more coordinated view of healthcare costs and financial risk.

Why it matters: - The acquisition links medical stop-loss underwriting with claims administration in one platform. - BRM and IMS expect the combination to improve visibility into healthcare costs and financial risk for self-funded employers. - The deal adds capability to Sands Point Risk’s healthcare platform after its purchase of BRM in July 2025.

What happened: - Sands Point Risk and its healthcare subsidiary BRM Specialty Markets announced the acquisition of Interactive Medical Systems on Sept. 24, 2026. - IMS is a third-party administrator serving self-funded employers. - IMS will become part of BRM, the specialty managing general underwriter focused on medical stop-loss. - Sands Point Risk is a diversified managing general underwriter with programs across healthcare, property and casualty, and specialty insurance lines.

The details: - BRM focuses on medical stop-loss underwriting for brokers and consultants serving self-funded employers. - IMS brings third-party administration and day-to-day management of self-funded health plans. - BRM said the combination should connect how healthcare risk is assessed with how claims are administered. - The companies said the goal is a more coordinated approach to managing healthcare costs and financial risk. - Roman McDonald, CEO of BRM Specialty Markets, said the businesses are complementary and share a similar approach to serving clients. - McDonald said the combined capabilities should provide earlier insight and better information to protect clients’ healthcare dollars. - Eric Ludwig, CEO of Interactive Medical Systems, said the deal is a natural fit for IMS and its clients. - Ludwig said closer work with BRM brings deeper underwriting and risk management expertise to IMS clients. - IMS says it has more than 45 years of industry experience. - IMS services include claims processing, benefits consulting, and administration of FSAs, HSAs, HRAs, COBRA, and retiree billing. - BRM says it works only with A-rated carriers. - BRM says it was founded by brokers and consultants for brokers and consultants. - BRM says its placement process is designed to be fast and straightforward.

Between the lines: - The deal points to continued consolidation around healthcare risk management tools that can combine underwriting data with claims data. - The combination could give BRM and IMS more leverage with self-funded employers that want tighter control over rising healthcare expenses. - Sands Point appears to be building a broader insurance platform by adding specialized businesses that can share data and client relationships.

What's next: - BRM and IMS will operate more closely across the risk and claims management process. - The companies said they will share information and look for opportunities to manage costs while maintaining service for existing clients. - Sands Point and BRM did not disclose financial terms. - The companies also did not outline an integration timeline.

The bottom line: - BRM and Sands Point are trying to turn underwriting and claims administration into a single, more coordinated healthcare risk platform.