View this article online: https://www.insurancejournal.com/news/national/2020/11/12/590358.htm
Insurance systems and data analytics provider Insurity reported that it has completed the acquisition of California-based CodeObjects, which offers a management program for personal lines.
The deal expands Hartford-based Insurity’s portfolio of products that is focused on commercial lines.
The acquisition was completed on November 6, 2020. The terms of the acquisition were not disclosed.
CodeObjects’ flagship product is InsuranceEnterprise, an end-to-end policy, billing, and claims suite, featuring tools that simplify implementation and enable self-service. CodeObjects also offers an artificial intelligence-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,” said Chris Lafond, CEO of Insurity.
Anil Annadata, CEO of CodeObjects, said Insurity’s cloud services, SaaS expertise and strong presence in the property/casualty insurance market will allow CodeObject to accelerate the development of its platform and deliver even greater value to clients.
This is the fifth acquisition announced in the last year for Insurity. The others have been SpatialKey, Epic-Premier and Virtual MGA, Bill It Now.