2 Big Business Transactions Come to a Close

Two players in the insurance technology market completed previously announced business transactions: Sapiens International finished its merger with FIS Software Ltd. and IDIT I.D.I. Technologies Ltd., and Accenture finalized its acquisition of Duck Creek Technologies.

In July, Accenture said the acquisition will complement Accenture Software’s existing software stack and enable it to offer the P&C insurance market a full spectrum of capabilities from product configuration and policy management, to underwriting, billing, rating and claims management.

“Duck Creek is a leader in the P&C policy administration market as demonstrated by its customer base and its sales momentum,” said John DelSanto, global managing director of Accenture's Insurance practice. “It also will reinforce our presence in the marketplace while expanding our offerings to significantly more clients, including in the mid-market.”

Meanwhile, Sapiens announced the completion of a merger transaction with IDIT and FIS, two IT specialists in the insurance industry. In March, Sapiens said the transaction is intended to create various synergies among the three companies and complementary offerings in the different territories where the companies operate.

“The merger constitutes a major milestone in the execution of our growth strategy. Bringing together the employees, products and customers of Sapiens, IDIT and FIS establishes us as a leading enterprisewide solution provider for the insurance industry,” said Roni Al-Dor, president and CEO, Sapiens International.