P&C solutions provider Duck Creek Technologies has announced a definitive agreement to acquire Imburse Payments, a Swiss-based modern payments platform.
Imburse’s cloud-native SaaS payment solution is designed for the insurance industry, with the intent to bring greater ease and efficiency to end-to-end transactions.
As part of Duck Creek, Imburse will continue to serve its existing client base and markets, while accelerating expansion plans for new clients across Europe and into North America and Asia-Pacific.
Mike Jackowski, CEO of Duck Creek Technologies, commented, “Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also gives carriers incredible flexibility and payment choices.
“Imburse has a strong team that embodies Duck Creek’s core values. They have deep expertise across the payments ecosystem and will help to broaden Duck Creek’s insurance industry leadership.”
Oliver Werneyer, CEO of Imburse, added, “Being part of Duck Creek will further accelerate our mission to simplify how businesses around the world access the global payments ecosystem.
“We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry for the future.”
The acquisition is expected to close during the second fiscal quarter of 2023 and remains subject to customary closing conditions.
Meanwhile, In September last year, Duck Creek announced the international expansion of Duck Creek Producer – a platform for enhancing the relationships between insurers and brokers and accelerating speed-to-market for distributing new products.
