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| [May 02, 2012] |
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iPipeline Acquires UK-based Assureweb
EXTON, Pa. --(Business Wire)--
iPipeline®, the leader in on-demand marketing, selling and processing
solutions for the nation's top insurance carriers, distributors and
producers, today announced the acquisition of Assureweb®, a leading
UK-based provider of SaaS (News - Alert)-based electronic quote and application
services to the Life, Pensions and Mortgage marketplace. More than
22,000 registered users from across the UK leverage Assureweb's platform
to market, sell and process over 180 products from over 35
market-leading providers. The acquisition, following Technology
Crossover Ventures' January 2012 investment in iPipeline, will lead the
expansion of iPipeline's online insurance solutions to the UK, Europe
and Asia.
"The strategic acquisition of Assureweb ideally positions iPipeline for
entry of our online insurance solutions into the UK, Mainland Europe,
and Asian marketplaces. Our goal is to extend Assureweb's value
proposition and accelerate their market momentum by adding iGO e-App®
[intelligent fillable forms], PolicyEX™ [e-policy delivery], and
PolicyHS™ [policy services] to their solutions portfolio," said Tim
Wallace, CEO, iPipeline. "Assureweb is synergistic to our business
model. The combination of Assureweb with iPipeline will create a
compelling proposition for advisers, product providers and technology
partners in the UK, Europe, and Asia. We look forward to establishing
our market leadership position overseas with the Assureweb team."
"I'm delighted to be part of this next step in Assureweb's evolution and
look forward to engaging iPipeline's team," said Andrew Simon, CEO,
Assureweb. "We will continue to focus on making life easier for
financial advisers and extending our value proposition to the
marketplace by offering several of iPipeline's industry-leading
solution. The potential for making a positive impact during the coming
months with a new suite of products and services is great, and I believe
our registered users and market-leading providers will benefit from
iPipeline's acquisition of Assureweb."
"Since acquiring the business in 2005 from Sesame, Assureweb has created
a compelling proposition: make it easier for Advisers and Product
Providers to quote and apply for business electronically. It has
delivered against the strategic intents set out by its owners to become
profitable and grow its market-share," said John Spellman, Non-Exec
Chairman of Assureweb on behalf of the Shareholders (Aviva, AEGON,
Friends Life, Prudential, and Scottish Widows Plc). "I'm delighted that
in iPipeline we have found a technology business who shares the same
passion and enthusiasm to take Assureweb forward with a broader,
next-generation product set."
With nearly 85 employees, Assureweb is located in Cheltenham,
Gloucestershire. Andrew Simon, CEO, Assureweb, will continue to run the
company with his UK management team and US-based iPipeline counterparts.
To learn how you can implement iPipeline's solutions to support the
marketing, selling and processing of life and annuity products, contact sales@ipipeline.com
or call 1-800-758-0824, option 2. View our iGO
e-App video today.
About iPipeline
iPipeline leads its industry in providing the next-generation suite of
sales distribution software to the insurance and financial services
markets through its on-demand service. iPipeline's channel solutions for
carriers, distributors, and producers automate activities for CRM, forms
distribution and processing, quotes and illustrations, in Good Order
e-Applications, agency management, data services, policy delivery and
related services, enabling the insurance industry to market, sell, and
process faster. iPipeline provides the process automation and
seamless integration needed to make a sale by aggregating approximately
120 carriers, 1,200 distributors, and 400,000 financial professionals
and advisors in a single, Web-based environment -- the iPipeline
Customer Network. With headquarters in Exton, Pennsylvania, iPipeline
has locations in Atlanta, Charlotte, Milwaukee, Salt Lake City, the UK,
and Vancouver. Visit us at www.ipipeline.com.
About Assureweb
Assureweb is a leading provider of electronic quote and application
services to the UK life and pensions market. In addition to their portal
at www.assureweb.co.uk,
Assureweb offers a range of licensed solutions -- Assureweb Services.
These integrated solutions suit those firms wishing to integrate
Assureweb quotes and applications with their own website or CRM system.
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