Insurity Acquires CodeObjects, Broadening Its Market Offerings with Leading Cloud-Based Personal Lines Solutions and AI Technology
November 12, 2020
Hartford, CT – November 12, 2020 –Insurity, LLC, a leading provider of cloud-based core system solutions and data analytics for the world’s largest insurers, brokers, and MGAs, today announced that it has completed the acquisition of California-based CodeObjects. The deal brings to Insurity a modern, powerful solution purpose-built for managing personal lines of business, rounding out the company’s portfolio of industry-leading commercial line solutions. In addition, CodeObjects brings advanced AI technology which will enhance customer experiences across all Insurity solutions.
CodeObjects is a recognized leader in delivering highly innovative and flexible cloud solutions to the P&C space. Their solutions’ deep feature sets and ease of configuration have resulted in long-tenured, highly-satisfied clients. CodeObjects’ flagship solution, InsuranceEnterprise, is a fully-integrated end-to-end policy, billing, and claims suite, featuring a powerful set of configuration tools that simplify implementation and enable self-service. Beyond the core suite, CodeObjects offers an AI-powered virtual assistant, InsurBot. Leveraging IBM Watson technology, InsurBot enables 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,” said Chris Lafond, CEO of 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.”
“Since our inception, CodeObjects has been committed to building state-of-the-art, cloud-based solutions designed to transform the P&C insurance space,” said Anil Annadata, CEO of 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.”
The acquisition was completed on November 6, 2020. The terms of the acquisition were undisclosed.
Insurity is a leading provider of cloud-based core system solutions and data analytics for the world’s largest insurers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering clients to focus on their core businesses, optimize their operations, and provide superior customer experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property and casualty carriers in the US. For more information, visit www.insurity.com.
CodeObjects is a P&C insurance software provider with the mission of leveling the competitive playing field for mid-size insurance carriers. CodeObjects offers configurable insurance process management solutions running in the cloud, enabling quick and easy deployment. CodeObjects’ process management solutions support the insurance enterprise by going beyond the core of policy, billing, rating and claims, and also delivering built-in business intelligence and all the ancillary touch points. For additional information on CodeObjects and its product and service offerings, visit http://www.codeobjects.com.