Fadata has acquired Munich-based digital insurance technology specialist, IMPEO, and its subsidiaries.
Impeo develops front office applications for the insurance and financial services industry.
The acquisition allows Fadata to expand its insurance process platform (INSIS solution) with products and services that supports insurers to engage with their customers and distribution partners.
Impeo founders Ralf Bojarra and Alexander Schweers, general manager Thomas Rekittke including the existing team of insurance technology specialists and business consultants, will be continuing with Fadata after the acquisition.
Fadata Group CEO John Macdonald said: “Fadata’s strategy is to offer our clients the best insurance software solutions to meet their growing and changing business needs.
“IMPEO ‘s strengths are in their deep understanding of the requirements of the German-speaking markets, in delivering client-focused technology solutions to help insurers market their products, and in the depth of the skills and talent they have to help their customers’ digital journey.”
Macdonald further added: “IMPEO’s solutions have great synergy with INSIS, our leading insurance process platform, expanding our overall opportunity to be the leading insurance solution vendor in Europe.”
The acquisition benefits Fadata in cutting down their customers’ overall costs and complexity. Also, it allows the company to meet their insurers’ growing need for modern, mobile friendly customer-engagement and portal solutions.
IMPEO co-founder Ralf Bojarra said: “Munich will develop as our principal operating base for the region as we grow the client base and customer services team across all the products of the Fadata Group.”
Fadata, which offers software solutions for global insurance companies, was acquired by The Riverside Company and Charles Taylor in 2015.