Duck Creek Technologies, an intelligent solutions provider to the property & casualty (P&C) insurance market, is to acquire Swiss-based payments platform Imburse Payments.
Duck Creek Claims is a comprehensive claims management solution that aims to help insurers manage the entire claims lifecycle.
Imburse’s cloud-native software-as-a-service (SaaS) payment solution is tailored to serve the insurance industry.
According to Imburse, the modern payments platform brings greater ease and efficiency into end-to-end insurance transactions. The company achieves this by enabling insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, seamlessly integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place.
Additionally, Imburse said the platform is consumer friendly and provides policyholders with both an easy-to-use, flexible payments experience and the ability to quickly and securely direct payments.
Following the acquisition, Imburse will continue to serve its existing client base and markets, while accelerating expansion plans for new clients across Europe and into North America and Asia-Pacific.
The Imburse platform will continue to be available on a stand-alone basis and will also be fully integrated with Duck Creek’s suite of technology solutions.
Mike Jackowski, CEO of Duck Creek Technologies, said, “Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also gives carriers incredible flexibility and payment choices.
“Imburse has a strong team that embodies Duck Creek’s core values. They have deep expertise across the payments ecosystem and will help to broaden Duck Creek’s insurance industry leadership.”
Oliver Werneyer, CEO of Imburse, added, “Being part of Duck Creek will further accelerate our mission to simplify how businesses around the world access the global payments ecosystem. We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry for the future.”
In December last year, Duck Creek welcomed Copart as a partner. The two companies teamed up to deliver a better claims customer experience.
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