Property and Casualty Software Solutions Providers Join Forces
DENVER–(BUSINESS WIRE)–#bowrivercapital–Insurium™ (CHSI Technologies Corp) and Spear Technologies, two leading insurance software solution providers, announced today that the organizations will be merging. Insurium™ and Spear Technologies will operate as a single company offering a full suite of integrated insurance technology solutions designed specifically for Property & Casualty insurance organizations. Together the companies combine their deep insurance expertise, technology, and customer-oriented staff to continue delivering stellar service, industry-leading insurance solutions, and an expanding Insurtech partner ecosystem for clients to tap into.
The combined organization, to be known as Spear Technologies, will continue to build and deliver powerful, easy-to-use core insurance software inclusive of policy administration, claims management, and portals with robust rating, billing, automation, integration and analytics capabilities leveraging the Microsoft Power Platform.
The combined company will be led by Jeremy Williams, Insurium’s CEO, alongside Spear’s founders and industry veterans, Jose Tribuzio and Brian Mack, who will serve as the company’s President of Technology and Chief Revenue Officer respectively.
“This merger accelerates our vision of providing the P&C Insurance space a complete suite of core systems based on the Microsoft Power Platform, providing a truly differentiating solution,” said Brian Mack, Spear Technologies founder and Chief Revenue Officer.
“The team at Spear Technologies shares the same culture and values as Insurium, and we’re completely aligned on our common product vision and innovation roadmap,” Jeremy Williams, CEO, continued. “The future is bright and we have more to offer than ever before to insurance organizations of all sizes nationwide.”
Martina Conlon, Head of P&C Insurance Practice at industry analyst Aite-Novarica Group states: “Core system transformations are a top priority for small and midsize insurers for 2023, and configurable, integrated suites are their preferred platforms. The merger of Spear Technologies and Insurium, and the availability of their integrated suite, offers expanded options to small and midsize insurers that write a broad range of lines of business.”
Spear Technologies Co-Founder and President of Technology, Jose Tribuzio stated: “We are thrilled to join forces with Insurium. This merger brings great synergies and truly accelerates our growth strategy. Spear Technologies’ deep industry experience combined with our modern low-code platform will allow us to provide outstanding solutions and services to our insurance clients.”
Insurium is a market-leading insurance software provider serving small and mid-size commercial insurance organizations since 2010 with its flagship Connections™ policy administration solution. The Insurium platform is a cloud-based software supporting the core insurance operations functions such as underwriting, rating, policy administration, billing, loss control, self-service portals, and reporting. The company’s clients include P&C insurance carriers, captives, public entity pools, workers’ compensation self-insured groups (SIG), risk management firms, and third-party administrators (TPA). For more information, visit https://www.insurium.com/.
About Spear Technologies
Spear Technologies is a new player on the scene providing advanced software technology designed specifically for the insurance segment. The company’s flagship solution, SpearClaims™, is an enterprise-ready low-code, no-code claims management solution developed on the Microsoft Power Platform that delivers unparalleled control, speed, and results. Spear Technologies empowers companies with the ability to easily and quickly configure the software to meet their unique needs. SpearClaims’ architecture provides the capabilities for using built-in AI and automation tools to extend an organization’s capabilities, as well as to ensure competitive differentiation and results. For more information, visit http://www.spear-tech.com/.