Sterling Brokers buys Lucite to bring AI tools to independent benefits brokers

Independent employee benefits brokers across Canada are getting access to technology Sterling Brokers previously kept within its own business. Sterling has acquired Lucite, an AI platform built for Canadian benefits brokers, and is combining its analytics and workflow tools with Sterling’s administration infrastructure. The companies’ pitch: help smaller brokers compete while remaining independent.

Financial terms were not disclosed. The transaction buys Sterling a platform already serving Canadian brokers, rather than technology it must introduce to that market from scratch.

From carrier documents to client reports

Lucite’s software is designed around Canadian insurance documents and broker workflows. Its stated role is to automate recurring work that sits between receiving information from an insurance carrier and presenting an offering to an employer client. The company describes four tasks its technology handles:

• Extracting information from carrier documents.
• Preparing quotes for benefits coverage.
• Managing renewals.
• Producing reports for clients.

The acquisition connects that work with Sterling’s proprietary third-party administration platform—the infrastructure it uses for benefits administration. Sterling is making that platform available to independent brokers for the first time. The expanded Lucite offering brings analytics, benefits administration and automated carrier quoting into one platform, according to the acquisition announcement.

More than 45Brokers using Lucite

The companies say Lucite’s analytics and reporting platform is used by more than 45 brokers across Canada.

More than 20,000Clients those brokers serve

Those brokers serve more than 20,000 clients, according to the announcement.

A customer becomes the owner

Sterling was an early Lucite partner and one of its largest customers before buying the business. The acquisition therefore builds on a working commercial relationship.

Lucite was founded in 2024 and is headquartered in New York, according to Insurance Business. Its founders bring AI experience from Datadog, Meta and SpaceX. Co-founder and CEO Jason Spector will continue to lead Lucite’s expanded offering within Sterling, preserving leadership continuity as the two platforms are brought together.

Selling scale without buying the broker

Sterling’s stated goal is to give independent brokers capabilities it describes as traditionally available only to large multinational firms. That is the competitive argument behind opening its administration system: independents would gain access to a larger operating platform without having to become part of Sterling’s brokerage.

Sterling CEO Andrew Blanchard framed the investment around supporting a diverse independent broker network and meeting rising client expectations. Spector’s rationale emphasizes the other half of the deal: pairing a startup’s speed with Sterling’s infrastructure and distribution.

Those are the companies’ objectives, not demonstrated results from the acquisition. Lucite’s existing broker usage shows an established customer base; it does not by itself show how much the combined offering will improve efficiency or help independents win business.