Duck Creek Technologies (NASDAQ: DCT), a Boston, MA-based provider of property and casualty (P&C) insurance solutions, acquired Imburse Payments, a Swiss payments platform.
The amount of the deal – which remains subject to customary closing conditions and is expected to close during the second fiscal quarter of 2023 – was not disclosed.
With the acquisition, Duck Creek will accelerate its mission to simplify how businesses around the world access the global payments ecosystem. As part of Duck Creek, 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 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, further enabling carriers’ digital transformation goals with modern tools.
Led by Oliver Werneyer, CEO, Imburse provides a cloud-native software-as-a-service (SaaS) payment solution is built for the insurance industry. The payments platform works into end-to-end insurance transactions. The company enables insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place. The platform is consumer friendly and provides policyholders with both a flexible payments experience and the ability to quickly and securely direct payments.
Led by Mike Jackowski, CEO, Duck Creek Technologies is an intelligent solutions provider focused on property and casualty (P&C) and general insurance industry. Its solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand.
FinSMEs
10/01/2023