Duck Creek snaps up Imburse Payments from Switzerland
Duck Creek Technologies, a provider of intelligent Property & Casualty (P&C) insurance solutions, has reached a final agreement Imburse Payments for an undisclosed sum.
Based in Switzerland, Imburse offers cloud-native Software-as-a-Service (SaaS) payment solutions for the insurance sector.
Imburse allows insurance carriers to access the payments ecosystem at a reduced price.
It also facilitates integration with current financial infrastructure and processes, helping insurance players to handle different partners during collections and payouts.
Imburse also offers policyholders a flexible payment option and the ability to make payments securely.
Upon completion of the new transaction, Imburse will continue to serve its existing customers and markets.
The platform will accelerate its expansion across Europe in addition to North America and Asia Pacific.
It will offer its services both on individual platforms and as a fully integrated entity of Duck Creek.
The transaction is expected to close in the second quarter of this year, subject to customary closing conditions.
It comes after Imburse announced a strategic alliance with Sapiens International, which provides software solutions for the insurance industry to facilitate access to the payments ecosystem around the world.
Mike Jackowski, CEO of Duck Creek Technologies, said, “Imburse has created a great product for the global insurance industry that is not only easy to integrate and implement, but also offers transportation companies incredible flexibility and payment capabilities.
“Imburse has a strong team that embodies Duck Creek’s core values.
“They bring in-depth expertise across the payments ecosystem and will help expand Duck Creek’s leadership position in the insurance industry.”