[September 24, 2018] |
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Prima Solutions Expands Product Offering and Geographical Reach Through the Acquisition of ICOD Inc.
As part of its continuing growth strategy, Prima Solutions (Prima), the
premier software platform for Property and Casualty insurers, has agreed
to acquire ICOD Inc. (ICOD), the Canadian provider of software solutions
for Life and Health insurance. Recognized as an established leader with
its SN Assurance suite, ICOD offers a best-in class solution deliverable
in SaaS (News - Alert) or on premise.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180924005019/en/
The transaction, which closed on September 20th, accelerates Prima's
expansion into the Life and Health insurance market which is still
largely using legacy technologies. The ICOD acquisition offers many
synergies including: complementing Prima's existing product offering,
diversifying its customer base and expanding the platform for rapid
growth in both Europe and North America.
Hugues Delannoy, Chairman of Prima Solutions, said: "This
acquisition provides a unique opportunity to accelerate our growth
strategy and gain scale both in France and internationally. The
transaction offers immediate synergies and reinforces our plan to
diversify our product offering to take advantage of the fast growing
demand in the Life and Health insurance segment for a modern scalable
platform."
Pascal Gosset, Founding President of ICOD Inc., added: "Having
already worked closely together with Prima on several occasions, our
shared vision has led us to join forces to position ourselves as one of
the strategic technology providers in the Property and Casualty and the
Life and Health insurance markets. The combination of both organizations
will allow clients continue to benefit from the same high level of
quality service and expertise while also gaining access to increased
product offerings through a single software provider".
About Prima Solutions Prima Solutions provides Property and
Casualty insurers the cutting-edge Prima Insure™ software platform to
increase agility and become a leader in insurance innovation. 100
percent web enabled, modular, multilingual and delivered via SaaS mode,
Prima Insure™ addresses the entire life cycle of an insurance policy:
distribution; underwriting; contract; claims, financial management and
predictive analytics. More than 67 Property and Casualty insurers have
already chosen to innovate with Prima Insure™. Prima Solutions is a
member of ACORD. Web www.prima-solutions.com
| Twitter (News - Alert) https://twitter.com/Prima_Solutions
About ICOD Founded in 2000 in Montreal ICOD delivers the
software platform Life and Health insurers need to gain in agility and
efficiency in a highly competitive market. Full web, modular,
multilingual and available in SaaS mode, ICOD's software platform
addresses the whole life cycle of an insurance policy: distribution;
underwriting; contract management; claims and financial management. More
than 10 Life and Health insurers have selected ICOD's software platform
to manage their activities end-to-end. ICOD employs 55 professionals
worldwide, and its employees will become part of the Prima Solutions
group in the context of this transaction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180924005019/en/
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