Coalition acquired a company focused on scanning and cybersecurity. Xceedance bought an outfit centered around insurance operations and technology services. Insurity, Inc. snatched up a company that will allow it to further broaden its data and analytics offerings.
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Coalition, an InsurTech and cyber insurance provider for small and midsize businesses, said it has acquired BinaryEdge, an Internet scanning and cybersecurity company.
Neither side disclosed financial terms.
Plans call for Coalition to integrate BinaryEdge’s technology with its cyber insurance and security platform, so Coalition policyholders can easily map their Internet attack surface, monitor risk exposures in real-time, and proactively fix vulnerabilities so that they can stay one step ahead of their adversaries.
Coalition said the BinaryEdge acquisition will let it offer 24/7 security monitoring to safeguard an organization, as well as comprehensive insurance coverage for technology failures and cybercrime. Coalition claims its policyholders will experience far lower costs to detect, contain, and recover from a data breach, and fewer losses and claims.
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Xceedance said it has acquired Activer Solutions for an undisclosed price.
Xceedance is a Boston, Mass.-based global provider of insurance consulting, managed services, technology, data sciences, and blockchain products and services. Activer, based in Marlborough, Mass., specializes in insurance operations and technology services for the front, middle, and back office operations of property/casualty insurers.
Plans call for Activer to be absorbed into Xceedance’s U.S. operations.
Xceedance said the acquisition allows it to expand workflow flexibility and efficiencies for insurance providers in risk evaluation and underwriting, policy service for agents and customers, and claims operations. Going forward, North American insurers, reinsurers, brokers, and managing general agents (MGAs) can leverage the combined onshore insurance operations expertise of Xceedance and Activer Solutions to boost strategic business performance, create capacity for growth and overflow, and improve expense management.
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Insurity, Inc. recently acquired SpatialKey, Inc., with a goal of further broadening its data and analytics offerings.
Insurity is a Connecticut-based provider of cloud products and services, and data analytics, for large insurers, brokers and MGAs. SpatialKey is a Texas-based provider of geospatial analytics, data enrichment, and risk intelligence products and services for the P/C insurance industry. The companies declined to disclose financial terms.
The companies completed the acquisition on Dec. 30, 2019.
Sources: Coalition, Xceedance and Insurity