Sword Group, a software and services company, has established a new division to provide software and services to the global insurance market.

The new division will be led by Steven Hauck and Eric Harnden who co-founded AgencyPort and Curt Stevenson.

According to Sword, the new division will offer software products and delivery capabilities around leading solutions including multi-channel distribution technology, business intelligence tools and specialized policy administration to the insurance market.

In addition, the company has also approved an increased R&D budget for the division that will fund a newly formed and centralized product development organization for Sword Insurance.

Heath Davies, CEO of Sword Group, said: “Through the acquisitions of Sword Intech, Sword AgencyPort and Sword Ciboodle and the launch of an offshore services team for insurance in Sword India and in our Wales service center, Sword Insurance offers an unparalleled breadth and depth of software and services.”