Chennai-based Customer Experience Management company Servion has acquired Innoveo AG an InsurTech Cloud software provider, headquartered in Zürich, Switzerland. The company declined to disclose the deal size.Innoveo AG with a team of 45, has offices in Zürich, Hong Kong and Budapest and services top insurance companies. This is a multifaceted, cloud-based technology suite, which enables digitalization of insurance processes and accelerates insurance product launch cycles.
Furthermore, the solution expands the product delivery options by offering omni-channel digital capabilities, as well as improved agent and consumer user experience.
Nick Stefania, co-founder and CEO at Innoveo, said, “The acquisition will enable us to scale and play an important role in the global InsurTech market.”
Sameet Gupte, CEO of Servion Group stated, “The acquisition of Innoveo not only strengthens the group’s focus on Omnichannel Cloud offerings, but also propels us in the InsurTech space. We are very excited to leverage the Innoveo Skye® software platform globally along with our existing platforms such as ServIntuit, ServInsights, LCM, U-Nexsys, iAssit, and RapCTI.”
Everstone Capital, through a SPV owns majority stake in Servion Global Solutions.
