Both companies which focus on insurance operations and technology services have ties to Massachusetts
Two insurance operations and technology firms both with ties to Massachusetts have merged. Xceedance, a global provider of insurance consulting, technology and data science services, including blockchain solutions, has announced its acquisition of Activer Solutions. Based In Marlborough, Activer Solutions describes itself as “a strategic partner offering business processing outsourcing solutions to the Property & Casualty Insurance Industry.”
“The U.S. property and casualty insurance market represents more than half our global business today, and it’s growing,” said Manish Khetan, chief strategy officer, Xceedance. “We look forward to further developing insurance lifecycle operations in the U.S. and Canada to benefit both current and prospective Activer Solutions and Xceedance clients. By adding the onshore capabilities of Activer Solutions — including front office customer care services, plus support functions for underwriting and claims, as well as technology services, and full insurance document printing/distribution solutions — we can expand our industry-focused proficiencies to drive growth in North America.”
According to the terms of the agreement, Activer Solutions will be absorbed into the U.S. operations of Xceedance. The North America headquarters of Xceedance is in Boston, U.S.A.
Founded in 2000, Activer Solutions has built a highly knowledgeable insurance team over the years with many of its employees having 15+ years of experience. The acquisition allows Xceedance to expand workflow flexibility and efficiencies for insurance providers in risk evaluation and underwriting, policy service for agents and customers, and claims operations.
“The experienced Activer Solutions team is well-positioned to seamlessly integrate our offerings, technology, and skills within the Xceedance enterprise,” said Brian Carignan, chief operating officer, Activer Solutions. “We look forward to leveraging a wealth of natural synergies in delivering significant business value to insurance organizations.”