Quindell Portfolio Plc., London-based consulting company, has acquired Iter8 Inc., a Software as a Service-based provider to the North American insurance broker and agent market.

Quindell says Iter8 has a significant position in the North American market, particularly in Canada, as a result of providing SaaS-based solutions to the direct insurance and broker channels. These channels account for more than 70 percent of the Canadian insurance distribution market, along with insurance agents.

Iter8 has more than 40 major implementations for clients ranging from large multinational carriers including Aviva, Allstate, Allianz, Chubb, RSA, Wawanesa Insurance and Zurich to smaller niche players, says Quindell. Its product lines include personal auto, property and commercial business owners; general liability; commercial packages; farm; and specialty lines.

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