Insurity, Inc., a provider of core insurance processing and data integration and analysis solutions, announced the acquisition of the insurance software firm Oceanwide, Inc., based in Montreal, Quebec. The considerable talent, experience, and software solution assets of the two organizations is enabling Insurity to offer even greater value to existing customers, strengthen its market position, and expand its ability to address the broad needs of domestic and international carriers, MGAs, and Program Administrators. The Oceanwide brand will be retained, and Oceanwide will continue to operate as a separate company, known as “Oceanwide, An Insurity Company.” The acquisition brings together a complement of solutions and the financial resources to best serve the combined Insurity/Oceanwide client base and the broader insurance market as well. Oceanwide customers gain the benefit of Insurity’s Insurance Enterprise View (IEV) analytics platform in addition to Insurity’s rich content and depth of experience in bureau support and ISO lines of business.
“Oceanwide has an outstanding reputation in the industry for its solutions, customer service, and personnel. With this acquisition, Insurity can offer a more robust portfolio of insurance solutions. We are now better positioned to serve smaller insurers, startups, specialty, and niche players as well as the global insurance market.” Jeffrey Glazer, Insurity President and CEO
Likewise, Insurity customers can take advantage of Oceanwide’s proven expertise in rapid deployment and SaaS expertise and offerings. A major asset that Oceanwide brings to Insurity is their cloud-based Insurance System Suite, Bridge, which is configurable by end users rather than developers. Insurity clients will also benefit from Oceanwide’s data visualization tool and analytics dashboard, SmartView, and access to Oceanwide’s rich portal solution, Bridge Portal, to improve the experience of their agents, underwriters, and customers