Paperclip, Inc., a New Jersey-based insurance technology company, announced that it has completed the acquisition of Apis Productions, LLC.
Apis provides technology for the insurance industry including websites and portals, hosting and security, custom application development, marketing, and AI consulting services. Formerly operated as Apis Productions in Annapolis, Maryland, the business now operates as Apis Technologies, a wholly owned subsidiary of Paperclip.
Paperclip is focused on secure data exchange, document intelligence, workflow, and orchestration services.
Terms of the transaction were not disclosed.
“The acquisition of Apis represents an important step in Paperclip’s evolution into a broader, connected insurance technology platform,” said Ron Alexander, chief executive officer of Paperclip.
He said the acquisition strengthens Paperclip’s ability to connect insurance carriers, distributors including wholesale brokerage general agencies and independent marketing organization, producers, and other providers through more seamless digital experiences and technology-enabled services.
Paperclip said it will continue supporting existing Apis customers. Peri Lane, founder and current CEO of Apis Productions, will continue to lead the day-to-day operations of Apis Technologies as its president.
Topics InsurTech Mergers & Acquisitions Tech
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