Property & casualty software and services provider Insurity has acquired Systema Software, which specializes in claims software.
The deal adds Systema’s claims management system, SIMS Claims, to Insurity’s solution portfolio.
The solution is being used by a range of insurers, third party administrators, insurance pools and self-insured organizations.
According to the terms of the transaction, the name of the claim management product will remain unchanged while Systema’s organization and staff will work under the Insurity umbrella.
Insurity CEO Jeffrey Glazer said: “SIMS Claims is another great addition to the Insurity solution portfolio, bringing significant claims expertise, a proven solution, and a strong client base.
“The ability to leverage solution components and technology across the Insurity solution portfolio provides our customers a distinct opportunity to differentiate themselves in the market and enhance their competitive positioning.”
Glazer added that the company will continue its investments in its Claims Decisions unit besides enhancing and accelerating investments in SIMS Claims.
For Systema, its acquisition by Insurity, will benefit its clients and prospects through access to the latter’s complete suite of policy administration, claims, rating, billing and data integration features.
Systema Software CEO Jose Tribuzio said: “As part of the Insurity organization, we see a tremendous opportunity to expand our reach and better support our existing clients with service, delivery and software options – particularly with the complementary solutions and expertise offered by Insurity.”
The acquisition is Insurity's third in the last two years. It purchased Oceanwide in May 2015 and Tropics in June this year.
Headquartered in Hartford, Connecticut, Insurity provides core insurance processing and data integration, along with analytics solutions to the insurance industry.
Image: Insurity has acquired Systema Software. Photo: courtesy of adamr/ FreeDigitalPhotos.net.