Brookfield, Wis. - Fiserv, Inc. has acquired Xcipio, Inc., a Web-based insurance rating and automation solution provider. The acquisition will allow the Brookfield, Wis., company to provide Web-based comparative insurance rates directly from insurance carriers to producers in real time. Details of the transaction, which closed November 1, were not disclosed.
Terry Wade, president of the Fiserv Insurance Group, said the acquisition is a continuation of Fiserv's efforts to look for new ways to expand its presence in the insurance industry. "Fiserv will continue to build and acquire the necessary technologies to provide the best rating and submission experience to insurance professionals nationwide," Wade said.
Xcipio Inc., located in East Windsor, Conn., provides Web-based, real-time rating and automation solutions to insurance agents, brokers and carriers in Connecticut. Xcipio will operate as a division of FSC Insurance Solutions, an Agoura Hills, Calif., Fiserv business unit that holds a position in the insurance rating business in California, Arizona and seven Midwestern states.
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