Advisen acquires UK based insurance technology firm Web Connectivity
Advisen, a New York-based global insurance data and analytics provider, has acquired Web Connectivity, a UK-based provider of messaging products and services for the commercial (re)insurance markets in London and Bermuda.
The acquisition between both companies will allow Advisen to develop technologies and solutions for offering increasing amounts of structured data to suppliers, buyers and brokers of commercial (re)insurance.
Advisen has been engaged in the US at creating more structured, digitized data in the commercial insurance industry with its business intelligence (BI) product, data services, data management, and business process outsourcing (BPO) offering.
Web Connectivity's gateway and middleware offer the London and Bermudian (re)insurance markets innovative methods of receiving, reviewing and responding to structured data, be that in relation to placing, accounting and settlement, or claims.
The existing management teams at both Advisen and Web Connectivity will remain intact, the companies said.
Web Connectivity managing director James Willison said this acquisition provides the company an even greater foundation for the operations and product development initiatives.
"We are gaining an infrastructure to support our growing customer service efforts, as well as an opportunity to add to our growth momentum by establishing a strong footprint in the US," Willison said.
Terms of the transaction were not disclosed.
Related Insight
Suppliers Directory
Life Insurance & Pensions
Intermediaries Brokerage Underwriting London Lloyds
Reinsurance
Technology Technology in Insurance Outsourcing
Regulatory & Risk
Technology in Insurance Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Buy online from $125
Comments may be moderated for spam, obscenities or defamation.