Duck Creek Technologies, a leading provider of software solutions for the insurance industry, announced that it has entered into an agreement to acquire Imburse Payments, a modern payments platform that specializes in streamlining the payments process for insurers.The acquisition of Imburse Payments will allow Duck Creek to expand its offerings and enhance its ability to provide insurers with a seamless and efficient payment experience.
Imburse Payments has a track record of delivering innovative solutions for policyholder payments, claims payments, and premium financing. The platform integrates with a variety of billing systems, including Duck Creek’s own billing and payment solution, to provide insurers with a comprehensive, end-to-end payments solution. This acquisition is part of Duck Creek’s ongoing strategy to provide its customers with the latest technology and most advanced solutions to meet the ever-changing needs of the insurance industry.
Mike Jackowski, CEO, Duck Creek, said, “The acquisition of Imburse Payments is a significant step forward in our efforts to deliver the best possible experience to our customers. By combining Imburse Payments’ expertise in payments technology with Duck Creek’s leadership in insurance software, we will be able to offer insurers a powerful solution that streamlines the payments process and improves policyholder satisfaction.”
The Imburse Payments platform also brings with it an extensive list of already-established enterprise level clients. They would benefit from the added functionality and efficiencies that come with integration of Imburse Payment solution into Duck Creek’s ecosystem.
Matthew Rogowski, CEO, Imburse Payments, said, “We are thrilled to be joining forces with Duck Creek. Our platform is the perfect complement to their insurance software, and we look forward to working together to help insurers deliver a superior payments experience to their policyholders.”
This acquisition is a strategic move by Duck Creek to leverage the Imburse Payment’s modern payments platform to boost its offering and drive its mission to deliver best in class services to its customer. As a result, this move will help Duck Creek to capture a larger share of the insurance technology market and drive increased profitability. The financial details of the acquisition were not disclosed, but the deal is expected to close in the coming weeks. Duck Creek and Imburse Payments will continue to operate as separate entities until the acquisition is complete.
Overall, this acquisition is a win-win situation for both Duck Creek and Imburse Payment’s existing clients, as well as for the insurance industry as a whole, as it brings together two leading companies in the field of insurance software and payments technology to deliver cutting-edge solutions and improved customer experiences.