Insurity (Hartford), a global provider of cloud-based core system solutions and data analytics for insurers, brokers, and MGAs, has acquired CodeObjects (Milpitas, Calif.). Insurity describes the deal as bringing the vendor a modern, solution purpose-built for managing personal lines of business, rounding out the Insurity’s portfolio of industry-leading commercial line solutions. CodeObjects also brings advanced AI technology which will enhance customer experiences across all Insurity solutions, according to a vendor statement. Insurity declined to disclose the terms of the acquisition, which was completed on Nov. 6.
CodeObjects was an early exponent of cloud-based core systems for the property/casualty industry. Its flagship solution, InsuranceEnterprise, is a fully-integrated end-to-end policy, billing, and claims suite, featuring a set of configuration tools designed to simplify implementation and enable self-service. Beyond its core suite, CodeObjects offers an AI-powered virtual assistant, InsurBot. Using IBM Watson technology, InsurBot is designed to enable insurers to deliver improved and differentiated customer experiences.
“The CodeObjects acquisition provides an excellent addition to our robust suite of core system solutions and brings advanced AI technology that can drive additional value across our entire product portfolio,” comments Chris Lafond, CEO, Insurity. “Their enterprise-grade personal lines solution strongly complements our industry-leading commercial lines solutions, positioning us to better-serve our growing client base, and to address an expanded portion of the P&C market. Further, CodeObjects’ cloud-focused, API-enabled, and no-code configuration approach is tightly aligned with Insurity’s product strategy, driving rapid speed-to-market and lower-cost deployments.”
Committed to State-of-the-Art Cloud-Based Solutions
“Since our inception, CodeObjects has been committed to building state-of-the-art, cloud-based solutions designed to transform the P&C insurance space,” says Anil Annadata, CEO, CodeObjects. “With Insurity’s cloud leadership, SaaS expertise, and strong presence in the P&C market, we will be able to accelerate the development of our platform and deliver even greater value to our clients.”
Source: Insurance Innovation Reporter
