Grand Rapids-based insurance broker Acrisure announced Russell Westbrook, nine-time NBA All-Star and current Washington Wizards point guard, has joined recently formed joint venture Evolution Advisors as a founding partner.
Evolution is focused on providing greater access to insurance products and financial services to minority-owned enterprises, including Minority Business Enterprise certified businesses.
Other founding partners include Russell Wilson of the NFL’s Seattle Seahawks; Ciara, Grammy Award-winning singer and songwriter and Wilson’s wife; and Thomas Tull, chairman of Acrisure Technology Group and founder, chairman, and CEO of Tulco.
“Access to insurance is crucial to the success of any business,” says Westbrook. “Unfortunately, minority-owned businesses don’t always have the same opportunities as everyone else, so I am thrilled to partner with Acrisure on this endeavor where we can give diverse business owners the chance they deserve.”
Evolution will focus on traditional and innovative product delivery, harnessing Acrisure’s technology and artificial intelligence capabilities to identify and reach out to diverse audiences. Evolution will also use Acrisure’s merger and acquisition experience to build a network of allies.
“(Westbrook) shares our belief that we need to increase awareness and access to critically important insurance and financial products for all audiences,” says Greg Williams, co-founder, president and CEO of Acrisure. “We’re excited to combine our deep expertise with Russell’s ability to impact the risk issues faced by minority-owned businesses and diverse communities.”
Acrisure is forming a distribution model by combining technology and a large data set that will help it identify new insurance opportunities for minority-owned businesses.
Evolution will also seek to make a specific impact through community-focused efforts, building on Westbrook’s Why Not? Foundation, which works to help children who are facing hardships. It supports community-based education and family service programs and encourages youth to believe in themselves.
Acrisure has more than $2 billion in revenue and is 92 percent employee owned.
