The Carlyle Group Acquires Innovation Group; Rebrands Software Business to 1insurer
Staff Writer | January 08, 2016
The Innovation Group and 1insurer, the newly branded software business of Innovation Group, announce the completion of the company's acquisition by The Carlyle Group, a global alternative asset manager. Under the new Carlyle ownership, 1insurer has now completed its company rebranding across all global regions following a successful product rebrand in late 2015.
"The acquisition of Innovation Group by Carlyle, and the rebranding for 1insurer, are efforts that truly go hand-in-hand," says Paul Nichols, CEO, 1insurer. "With Carlyle's support, Innovation Group's software business has been rebranded as 1insurer across all geographies, and we are continuing to unify all our key business operations under the direction of the new board. We continue to invest significantly in our product offerings to ensure a market position ahead of our competitors, and to deliver real value to our customers in every aspect of policy administration, claims management, and data analytics."
"We believe 1insurer is a company with significant market-relevant products and services, an international presence, experienced people, and a solid international customer base," says Zeina Bain, managing director, Carlyle Europe Partners and member of the board at Innovation Group/1insurer. "We are excited about working closely with management to realize 1insurer's growth potential and continuing its success internationally through leveraging Carlyle's experience and global 'OneCarlyle' network."
The components of the 1insurer Suite, 1insurer Policy, 1insurer Claims and 1insurer Analytics, are flexible, integrated components that deliver increased efficiencies and enhanced revenue to customers across the Property & Casualty industry worldwide. 1insurer saw strong market momentum in 2015 with the company's biggest ever complete software suite transaction in May 2015, and a significant analytics contract with American Family Insurance announced in October 2015.
The new brand reflects the company's "Rule of 1" positioning with products provided under a common design, built with customer-centricity, and which enable carriers to easily scale solutions to specific needs. 1insurer has adopted a "mobile first" product development and delivery strategy which will further enable a new range of digital technologies that will join the company's existing product portfolio under the brand 1insurer Connect.
This new offering enables customers, suppliers and agents to communicate and process business on a platform of choice, made especially important as an increasing volume of insurance business moves online and is conducted via a growing number of smart devices.
To support the company's new brand, a web site has been launched at www.1insurer.com.
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