Insurity acquires CodeObjects
Insurity , a provider of cloud-based core system solutions and data analytics for insurers, brokers, and MGAs, announced that it has completed the acquisition of California-based CodeObjects . The deal brings to Insurity a “modern” solution purpose-built for managing personal lines of business. In addition, CodeObjects brings “advanced” AI technology which will enhance customer experiences across all Insurity solutions.
CodeObjects delivers cloud solutions to the P&C space. CodeObjects’ flagship solution, InsuranceEnterprise, is a fully-integrated end-to-end policy, billing, and claims suite, featuring a set of configuration tools that simplify implementation and enable self-service. Beyond the core suite, CodeObjects offers an AI-powered virtual assistant, InsurBot. Leveraging IBM Watson technology, InsurBot enables insurers to deliver “improved and differentiated” customer experiences.
“The CodeObjects acquisition provides an excellent addition to our robust suite of core system solutions and brings advanced AI technology that can drive additional value across our entire product portfolio. Their enterprise-grade personal lines solution strongly complements our industry-leading commercial lines solutions, positioning us to better-serve our growing client base, and to address an expanded portion of the P&C market. Further, CodeObjects’ cloud-focused, API-enabled, and no-code configuration approach is tightly aligned with Insurity’s product strategy, driving rapid speed-to-market and lower-cost deployments.” – CEO of Insurity Chris Lafond.
“Since our inception, CodeObjects has been committed to building state-of-the-art, cloud-based solutions designed to transform the P&C insurance space. With Insurity’s cloud leadership, SaaS expertise, and strong presence in the P&C market, we will be able to accelerate the development of our platform and deliver even greater value to our clients.” – CEO of CodeObjects, Anil Annadata.
The acquisition was completed on November 6, 2020. The terms of the acquisition were undisclosed.