Hexure has concluded the acquisition of Vive, a quote and e-submission platform for the life insurance sector, for an undisclosed sum.
Through the Vive takeover, Hexure will establish a single platform that focuses on the distribution of life and annuity products.
Vive offers a multi-carrier platform that permits a streamlined quote-to-submission workflow with various term life carriers in the sector.
This approach offers a new enrolment experience for carriers, producers and customers.
The platform is currently leveraged by more than 20,000 advisors associated with more than 55 brokerage general agencies for quoting and making business submissions to term life insurance carriers.
The platform provides various offerings for agents such as automated stepwise tracking of application status and a consumer value score for term life, known as Vive Score.
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Vive Score aids agents and customers in evaluating carrier-specific product requirements.
This deal is part of Hexure’s strategy to bolster expertise in quoting, e-application, carrier connectivity and supply networks.
Hexure CEO Laird Rixford said: “The future of this industry will be built on interoperability and the enablement of a smooth sales workflow.
“With Hexure and Vive together, the industry will be able to sell term life, permanent life and annuity products in a single platform and take a big step towards that future.”
Hexure focuses on delivering digital sales solutions for annuities, life insurance, wealth management and retirement products.