Tindall Acquired by Joint Venture of MSG Global Solutions and LOGiQ3
Staff Writer | February 20, 2015
Tindall Associates (TAI), a life reinsurance software and consulting service, is at the center of a new joint venture by msg global solutions, a Swiss-based provider of integrated technology and services to the insurance/reinsurance/financial services industries, and LOGiQ3 Corp., a Toronto-based company that provides expert life insurance and reinsurance services. Terms of the transaction were not disclosed.
Jointly, TAI and the partners will have increased access to global distribution channels and product investment. Through LOGiQ3 and msg global solutions, TAI will also gain access to additional insurance and reinsurance expertise and a full suite of reinsurance administrative solutions available to the market. TAI’s software products are well-known in North America for data and exchange for life reinsurance.
TAI offers its customers the ability to process assumed as well as ceded and retroceded business on the same stand-alone system. The TAI system, which can be deployed outside North America, is suitable for multiple regions and multiple currencies.
TAI operations will remain independent, with support from msg global solutions and LOGiQ3 for any future software development, architecture or consulting services. The firm’s current leadership, along with its license model and commitment to customer service excellence, will remain in place.
“This transaction is a clear signal to existing TAI customers regarding the quality of the solution they have already purchased, and a reflection of our solid commitment to a long-term product strategy,” said Steve Jerger, CTO at TAI. “We believe this joint venture solidifies TAI’s mission to become the global ceded life reinsurance system of choice and the number-one ceded life reinsurance platform worldwide.”
The acquisition of TAI strengthens msg global solutions’ North American business and leading position in the life reinsurance market. With the msg.LRM (life reinsurance module) solution and the TAI system, the three partners establish a competitive advantage in North America for ceded and assumed life reinsurance software and services.
“Reinsurance has been a focus of the msg group since the 1980’s,” says Bernhard Lang, msg global solutions’ CEO. “We’ve been well received and successful in the North American market. With the TAI solution we realize a complement to our reinsurance offering and can offer more services to our existing customers and serve new customers with specific needs for ceded and retroceded reinsurance and life reinsurance. The innovations we will bring to the TAI solution will also benefit the existing customer base of TAI.”
LOGiQ³, a joint venture partner to msg global solutions since May 2013, has already acquired experience working with TAI, using the TAI system for its Reinsurance Administration outsourcing business over several years as a consulting and outsourcing services provider.
“This transaction enables LOGiQ3, msg global solutions and TAI to continue to partner with leading insurers and reinsurers to shape the industry through the world-class people, process, and tools that drive the industry forward on a global scale,” says LOGiQ3 COO Simon Bell. “We are thrilled with the opportunity to extend our comprehensive suite of insurance and reinsurance services to the TAI client base.”
- Electronic Chat with Larissa Tosch
- Martha Notaras Will Join ITA LIVE 2019 as a Keynote Speaker
- Five Things to Consider When Evaluating Your Cyber Risk
- ITA Pro Magazine, January/February 2019
- Major Ransomware Attack Could Hit U.S. with $89B In Economic Damages
- ITA Announces 1st of Three Keynote Speakers at ITA LIVE 2019
- Electronic Chat with Jeroen Morrenhof
- Legacy Systems Are Dead. Really? Don't Count On It.
- Now Accepting Nominations for the 2019 ITA Bridge Awards
- It's time to register for ITA LIVE!
- Registration is Now Open for ITA LIVE 2019!
- What to Expect from a Digital Experience Platform Implementation
- ITA Pro Magazine September Edition is Now Available
- It's National IT Professionals Day
- Save the Date for ITA-LIVE 2019
- OneShield Software and UrbanStat Work Together to Improve Real-Time Analytics and Risk Decision-Making
- ITA LIVE 2019 - SAVE THE DATE!
- Insurance Technology Association Announces New Editor-in-Chief
- August 2018 Edition ITA Pro Magazine is Now Available
- Enterprise Architecture in an Agile World
- Top 10 Tips for Securing Your Mobile Devices and Sensitive Client Data
- Industry Insight: 4 Global Insurance Trends in Digital, Data, Content Services and Security
- Diving Deeper into Prioritizing Your Strategic Digital investments
- Why Content Rules
- How Mass Personalization Will Open the Small Business Benefits Market
- At Year End 2017, Will Your Organization Be Protected from Cyber Risks?
- Do Insurance Bots Dream of Mitigating Risk?
- Conditioned to Respond
- Managing & Mobilizing Insurance Data in a Connected World
- Race to the Finish Line
- New Tools, New Opportunities in Claims
- ITA LIVE: Reaching Insurance Industry Crossroads
- Advice to Insurance IT Leaders: Keep Your Eye on the Ball
- New Date, Venue for ITA LIVE 2017
- Guidewire Makes Major Push to Small and Midtier Market by Acquiring ISCS
- Insurance Disruption is Happening Right Now
- Insurity Adds Strategic Investment Partner, General Atlantic
- Beyond Transformation: The Convergence of Finance, Risk, and Actuarial Functions
- The Rapid Evolution of Consumer Protection Regulation
- Talent Hunt: Finding, Attracting, Retaining Top People
- Insurers Flexing Their Distribution Models
- Technology Driving Disruption in Insurance
- Fear of ‘Next Bubble’ Challenges Life, Annuity Carriers
- Technology Allows Commercial Lines Insurers to Stand Out
- Single Sign-on Viewed as Biggest Tech Challenge for Agencies
- ISCS Observes 20th Anniversary; Scurto Predicts Major Changes Ahead
- Policyholders and Their First Impressions
- Progressive Making Progress on the UBI Front
- High and Dry: Insurers Search for Disaster Recovery Plans
- Insurers Sign The (Un)Dotted Line
- Reflections of a Retired Insurance CIO
- Mobile Device Management Just One Answer to BYOD Issue
- Lessons from GEICO and Progressive on Winning the Critical Buying Stage
- You Are a Target for a Cyber Attack
- Web-based Systems are the Next Evolution in Claims Technology
- Gaining a “Wow” Experience from Web Users
- Time to Shift from Business/IT Alignment to Business/IT Alliance
- Healthcare Insurers Changing to Consumer Model
- Organization is the Key for Selecting Software Vendors
- Analysts Expound on the Needs of the Mid-tier Insurance Market
- Finding the Cure for Obamacare’s Website
- New Software Solutions Benefit Insurers on the Inside and Outside
- Products, Market Impede Investment in Systems for Life Insurers
- Combatting Cyber Threats: Predict, Prevent, Persist
- The Future of Telematics Heads Beyond Insurance
- The Shame in Cyber Security Lapses
- Building Policy Administration Systems for the Future
- Insurers Look Into The Eyes of Their Policyholders
- It’s a New Dawn for the ITA
INSURANCE IT NEWS
- Medical Malpractice Insurers Investing in Analytics and Emerging Tech in Face of Market Pressures, Says Novarica
- Insurtech AI Leader Betterview Appoints Dan Shoham, PhD, as Chief Science Officer
- Vermont Mutual Insurance Group Selects One Inc for Digital Payments
- Insurers Embracing Machine Vision for Underwriting and Claims, Says Novarica
- Nationwide partners with Slice Labs to develop on-demand auto insurance for rideshare drivers
- AM Best Requests Comments on Draft Criteria: Scoring and Assessing Innovation
- Majesco Acquires Insurance Software Business in India
- MEMIC Scholarship for Families of Injured Workers Now Accepting Applications
The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
ITA LIVE 2019
The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.
ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.
Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!
BLOGS AND COLUMNS
There are so many great advances in the area of smart homes and buildings, it makes me wonder what the actual impact has been, or what I might have... READ MORE
This month, the ITA celebrates Insurance Careers Month and encourages carriers, brokers, agents and our industry associations to plan their own... READ MORE
You have surely heard it said that small businesses are the growth engine for America. Today, the phrase has a special ring to it for benefits... READ MORE
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
As Guidewire Software prepares for the start of Connections, its 11th annual user conference that begins on Nov. 2, Brian Desmond, chief marketing... READ MORE