SE2, a life and annuities insurance technology and services firm, today announced it has acquired Convergent Financial Technologies, growing its SaaS based product offerings for the insurance and retirement solutions industry.
UV Cloud is a highly scalable native cloud platform that enables effective management of assets and calculation of unit values for a broad range of variable products – mutual funds, alternative investments, and retirement products. The product suite provides insurance carriers strong reporting and data analytics capabilities, delivered through SaaS or as a bundled service offering. UV Cloud accelerates transformation of fund management, pricing, and trading needs.
“We share a common goal of helping insurance and retirement solution providers leverage advanced technology to deliver superior outcomes for producers and end customers,” said SE2 CEO, Mark Schultis. “We are excited to welcome the Convergent team to the SE2 family and build upon the success of UV Cloud.”
“This deal is a perfect fit for both Convergent and SE2, given our complementary offerings and joint focus on providing digital enablement tools,” said Convergent CEO, William Bolton. “Together, we will continue to strengthen UV Cloud’s leadership position and partner with our customers to enhance efficiency, mitigate risks, and grow their business.”
To learn more, visit www.se2.com.
About SE2
SE2, an Eldridge business, is a life and annuities insurance technology and services firm. SE2 has a proven track record of enabling technology driven transformations. SE2 uniquely combines industry knowledge stemming from its 125+ years of life insurance heritage along with its end-to-end SE2 Aurum® technology platform to enable the rapid launch of new and innovative products through both traditional as well as digital channels. SE2 currently administers nearly 2 million active policies on behalf of its 25+ clients. SE2 has over $100 billion in assets under administration and handles more than 200,000 new business applications annually. Please visit SE2 at www.SE2.com to learn more.
About Convergent Financial Technologies
Convergent Financial Technologies is a software development company with a focus on financial services software. Founded in 2013, Convergent Financial Technologies provides fully integrated SaaS financial applications that greatly reduce IT costs, are cloud technology-enabled and are intuitive and easy to use. Headquartered in Hamilton, NJ, the company engages with 180 fund companies, 6000+ mutual funds and manages approx. $250B in assets. The company’s main focus is UV Cloud®, a unit value pricing and trading application used by over 20 insurance carriers including many of the largest insurance carriers in North America. The cloud-based platform includes customizable reporting, administration system interfacing, fund manager interfacing, and much more. For more information, please visit http://www.convergentfinancial.net/.
