Data-driven financial technology company Certua has acquired insurance technology firm Surely Group for an undisclosed amount.
Founded in 2013 by serial entrepreneurs, the Surely Group offers a cloud-based platform that works on all devices including web, tablet and mobile.
The multi-lingual and multi-currency platform operates in a Software-as-a-Service (SaaS) model.
The system allows a user to obtain a quote for an insurance product, buy the product and manage the product online.
Certua expects the acquisition to bolster its distribution proposition following increased demand from distributors to utilise the enterprise insurance platform.
Certua CEO Tom Williams said: “The Surely team develop some of the highest standard enterprise-grade insurance solutions in the industry and the combination of their people, skills and platform with the Certua offering is hugely complementary.
“The combined unique suite of services enables us to offer genuinely differentiated propositions in alternative digital markets.
“Our joint capabilities bolster our current proposition and satisfy the high demand we have been seeing for integrated user journeys in addition to core administration and data science.”
Surely CEO Larry Shapiro said: “We are delighted to be joining the Certua team, who have impressive ambitions in the fintech space.
“Their distribution strategy and use of data and analytics complements our modern technology stack, and their powerful and configurable back-end APIs plug neatly into our front-end.
“The insurance industry is finally digitising and modernising, and the Surely team will benefit from the larger scale of an expanded group.”
The acquisition follows the launch of Certua’s Enterprise Insurance platform last year, which can quickly build dynamic and adaptable insurance products.