Insurance core systems vendor Insurity has acquired Systema Software, which specializes in claims software.
The acquisition is Insurity's third in the past two years. It acquired Oceanwide in May 2015 and Tropics in June of this year. The Systema name will be retired; however, Insurity plans to market Systema's signature product, SIMS Claims, under the same name.
No offices will be closed, nor jobs retired. Insurity and Systema said the common architecture between their offerings means that integration will be easy and beneficial to clients of both companies.
"The ability to leverage solution components and technology across the Insurity solution portfolio provides our customers a distinct opportunity to differentiate themselves in the market and enhance their competitive positioning," says Jeffrey Glazer, Insurity CEO.
Glazer adds that though Insurity currently markets a claims component in its suite, Claims Decisions, that both software products will be supported.
"Insurity aims to deliver the right product to the customer depending on the needs of the specific customer," he says.
The buy brings Insurity up to 225 total clients. The company received an equity investment from two private equity firms in June of this year.
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