This is M&A deal Number 65 that ChannelE2E has covered in 2020. See the complete M&A deal list here.
Founded in 2000, Activer specializes in insurance operations and technology services for property and casualty insurers. In the coming months, Activer Solutions will be absorbed into the US operations of Xceedance, according to the company.
The deal compliments Xceedance’s existing property/casualty insurance business. The firm also handles analytics, consulting services, data sciences, and blockchain solutions. Its global headquarters are in Bermuda, while its North American offices are located in Boston. Its European operations are handled from London and the company also has offices in Germany, Poland, India, and Australia.
The acquisition also allows Xceedance to expand workflow flexibility and efficiencies for insurance providers in risk evaluation and underwriting, policy service for agents and customers, and claims operations, according to the company.
Xceedance Acquires Activer Solutions: Executive Perspectives
Describing the deal, Manish Khetan, chief strategy officer, Xceedance, commented:
“The U.S. property and casualty insurance market represents more than half our global business today, and it’s growing. We look forward to further developing insurance lifecycle operations in the U.S. and Canada to benefit both current and prospective Activer Solutions and Xceedance clients. By adding the onshore capabilities of Activer Solutions — including front office customer care services, plus support functions for underwriting and claims, as well as technology services, and full insurance document printing/distribution solutions — we can expand our industry-focused proficiencies to drive growth in North America.”
Brian Carignan, chief operating officer, Activer Solutions, added:
“The experienced Activer Solutions team is well-positioned to seamlessly integrate our offerings, technology, and skills within the Xceedance enterprise. We look forward to leveraging a wealth of natural synergies in delivering significant business value to insurance organizations.”