Equisoft, a digital business solutions provider for the insurance and wealth industries, has purchased Montreal-based AGEman Solutions for an undisclosed sum.

The acquired business develops and offers agency management systems for the Canadian distribution market.

AGEman’s system enables insurance distributors such as agencies and national accounts, to manage all aspects of their insurance sales process. The system can connect any Canadian agency with all carriers using CITS protocol.

Equisoft CEO Luis Romero said: “AGEman has the best technology out there, a proven track record of over 30 years, and more than 20 prestigious clients in the National Account and MGA Life Insurance Distribution market.

“Their technology will enhance our existing offering by filling the gap between the carrier’s core systems and the agents’ front-end tools.”

Equisoft said that with this latest acquisition it now offers a full set of integrated solutions from life insurance carrier core and sales solutions

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AGEman president Nathan Carey said: “We’re not only joining a firm that has a strong presence and reputation in Canada and abroad to support our business development efforts, but we’re also joining a firm that has a large pool of specialized resources to support our long-term product development effort.”

Equisoft Canada vice president François Levasseur said: “Our combined insurance and wealth management offering reaches nearly 60 000 advisors, half of which are in Canada.

“This clearly demonstrates the strong presence that we already have in the country, and acquiring AGEman will certainly reinforce our leadership position in Canada.”