The acquisition of Activer Solutions is expected to boost the onshore insurance managed services and technology capabilities of Xceedance in North America
Xceedance has acquired Activer Solutions, a Massachusetts-based insurance operations and technology services provider, for an undisclosed price.
Activer Solutions, which is located in Marlborough, caters to the front, middle, and back office operations of property and casualty insurers. The company has been operating since 2000.
The acquisition is expected to boost the onshore insurance managed services and technology capabilities of Xceedance in North America.
Xceedance is currently engaged in providing insurance consulting, technology, managed services, data sciences, and blockchain solutions across the world.
The acquisition is also expected to help the company to expand workflow flexibility and efficiencies for insurance providers in risk evaluation and underwriting, claims operations, and policy service for agents and customers.
The deal is expected to help North American insurers, reinsurers, brokers, and managing general agents (MGAs) tap into their combined onshore insurance operations expertise of the two firms. As a result, the insurance businesses can boost their performance, generate capacity for growth and overflow, and improve their expense management, said Xceedance.
Xceedance chief strategy officer Manish Khetan said: “By adding the onshore capabilities of Activer Solutions — including front office customer care services, plus support functions for underwriting and claims, as well as technology services, and full insurance document printing/distribution solutions — we can expand our industry-focused proficiencies to drive growth in North America.”
Activer Solutions to be combined with Xceedance’s US operations
In the coming few months, the Massachusetts-based company will be combined into the US operations of Xceedance whose North America headquarters are in Boston.
Activer Solutions chief operating officer Brian Carignan said: “The experienced Activer Solutions team is well-positioned to seamlessly integrate our offerings, technology, and skills within the Xceedance enterprise.
“We look forward to leveraging a wealth of natural synergies in delivering significant business value to insurance organizations.”
Based in Bermuda, Xceedance is said to help insurers in introducing new products, drive operations, use intelligent technology and advanced analytic capabilities to achieve optimise their business process.
In September 2019, the company launched its on-demand catastrophe modelling services, using the Oasis Loss Modelling Framework (Oasis LMF).