April 20, 2021
Colorado Springs, CO
COLORADO SPRINGS, CO, April 20, 2021 – Insurance Technologies, LLC, a leading provider of sales automation solutions for the life and annuities insurance industries, announces the acquisition of IXN, the leading provider of digital data exchange solutions for the life insurance industry. The combined company will fully integrate both companies’ proven systems to offer the most comprehensive and efficient single platform capabilities and experience for sales automation in the life and annuities insurance industries.
The insurance industry is in the midst of a major digital transformation, demanding more and more from market participants to create specialized software to modernize the overall sales and operations process. To operate in today’s competitive distribution world, advisors, agents, distributor firms, and carriers need a modern, simple, cohesive, one-stop digital shop to manage all aspects of the sales process.
Insurance Technologies identified IXN as a dynamic disrupter in the life insurance ecosystem, as proven by their widely adopted cross-platform digital solutions and recent launch of the LifeDX solution, an open API data exchange solution. IXN pioneered the concept of “putting an Agents’ business in their pocket” by launching and becoming the industry leader for mobile applications within the life insurance space. IXN also developed a multi-carrier sales automation solution that is becoming the platform of choice for life insurance distributors and carriers.
“As the insurance industry continues to innovate, we must find ways to deliver increasingly specialized yet integrated solutions for advisors, agents, distribution partners, and carriers,” said David Fenimore, Chief Executive Officer of Insurance Technologies. “The addition of IXN’s industry-leading suite of products for life insurance rapidly advances our FireLight® product roadmap for life insurance, providing the full life ecosystem in a single, easy-to-use application. This integrated solution further enhances our life insurance functionality and supports our client base in an area where we already see tremendous growth. We continue to build on our promise to offer a single platform as a service solution that supports the entire life and annuity insurance sales lifecycle and are committed to being the best possible long-term technology partner for our clients.”
“We are excited to combine IXN’s innovative technological tools with Insurance Technologies’ proven solutions,” said Kevin Pohmer, Chief Executive Officer of IXN. “Both of our customer bases and the entire life insurance industry will benefit from our increased ability to deliver innovative, value-added solutions that improve client success and operational efficiency across the entire value chain.”
By combining their proven technology solutions, Insurance Technologies FireLight® and IXN are creating the most robust end-to-end platforms for the life insurance marketplace. The addition of IXN’s digital sales automation and data exchange solutions is expected to make Insurance Technologies software solutions even more attractive to clients and reinforce the company’s strong track record for product and customer service. Together, Insurance Technologies and IXN will be a clear leader in innovation in the insurance technology market.
Terms of the transaction were not disclosed.
IXN is a leading provider of cross-platform software solutions to the insurance industry helping make the process of distributing and processing life insurance simple and easy. IXN pioneered the concept of “putting an Agents’ business in their pocket” by launching and becoming the industry leader of mobile applications within the life insurance space. Through our SaaS-based sales automation solutions, we assist carriers, agents, BGAs, advisors, and financial institutions better serve their consumers. IXN is headquartered in Lehi, Utah.
About Insurance Technologies
Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance industry. Offering a suite of integrated sales solutions, from pre-sale functions to quoting and illustrations through e-application and e-delivery to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across the life and annuities insurance industries. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth and evolve with regulatory changes.