Insurance Technologies LLC, a Colorado Springs, Colorado-based provider of sales automation solutions for the life and annuities insurance industries, has acquired Lehi-based IXN, a provider of digital data exchange software for the life insurance industry. The combined company will fully integrate both companies’ systems to offer the most comprehensive and efficient single platform capabilities and experience for sales automation in the life and annuities insurance industries, the companies said in a joint release.
Insurance Technologies said it identified IXN as a dynamic disrupter in the life insurance ecosystem, as proven by their widely adopted cross-platform digital solutions and recent launch of the LifeDX solution. IXN pioneered the concept of “putting an agents’ business in their pocket” by launching and becoming the industry leader for mobile applications within the life insurance space, Insurance Technologies said.
“As the insurance industry continues to innovate, we must find ways to deliver increasingly specialized yet integrated solutions for advisors, agents, distribution partners and carriers,” said David Fenimore, CEO of Insurance Technologies. “The addition of IXN’s industry-leading suite of products for life insurance rapidly advances our FireLight product roadmap for life insurance, providing the full life ecosystem in a single, easy-to-use application. This integrated solution further enhances our life insurance functionality and supports our client base in an area where we already see tremendous growth. We continue to build on our promise to offer a single platform as a service solution that supports the entire life and annuity insurance sales lifecycle and are committed to being the best possible long-term technology partner for our clients.”
“We are excited to combine IXN’s innovative technological tools with Insurance Technologies’ proven solutions,” said Kevin Pohmer, CEO of IXN. “Both of our customer bases and the entire life insurance industry will benefit from our increased ability to deliver innovative, value-added solutions that improve client success and operational efficiency across the entire value chain.”
“By combining their proven technology solutions, Insurance Technologies FireLight and IXN are creating the most robust end-to-end platforms for the life insurance marketplace,” the statement from the companies said. “Together, Insurance Technologies and IXN will be a clear leader in innovation in the insurance technology market.”
Terms of the transaction were not disclosed.