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Insurity Expands Operations with Purchase of Oceanwide

Insurity announces its acquisition of Montreal-based insurance software firm Oceanwide. The deal enables Insurity to offer even greater value to existing Insurity and Oceanwide customers while strengthening its market position and ability to address the broad needs of domestic and international carriers, MGAs, and program administrators.  The Oceanwide brand will be retained with the organization operating as Oceanwide, An Insurity Company.

The acquisition brings together a complement of solutions and the financial resources to serve the combined Insurity/Oceanwide client base in addition to the broader insurance market.  Oceanwide customers gain the benefit of Insurity’s Insurance Enterprise View (IEV), and the company’s content and depth of experience in bureau support and ISO lines of business. Insurity customers can take advantage of Oceanwide’s proven deployment and SaaS offerings. 

“We are excited to become part of the Insurity organization and see this as a tremendous opportunity for our team, our customers, and the industry overall,” says Oceanwide CEO Mitchell Wasserman. “A major asset that we bring to Insurity is our Bridge solution which is configurable by end-users rather than developers. Combined with our cloud environment and the backing of Insurity with its financial strength and resources we are now able to accelerate the growth of the combined organization, and deliver a broader and deeper set of capabilities to the global insurance market.”

Matthew Josefowicz, president and CEO of Novarica, comments, “We see this acquisition as a major step in Insurity’s strategy and market positioning.  There is considerable strength in both organizations and by bringing them together Insurity is able to offer a strong portfolio of solutions that includes rapid deployment, a strong user implementation and configuration tool set, rich content, deep ISO experience, and data management and analytics solutions optimized for P&C insurers.”

“Oceanwide has an outstanding reputation in the industry for its solutions, customer service, and personnel,” says Jeffrey Glazer, president and CEO of Insurity. “This acquisition enables us to offer a more robust portfolio of insurance solutions and positions Insurity to better serve smaller insurers, startups, specialty, and niche players as well as the global insurance market.”

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