Fiserv Inc. has acquired Xcipio Inc., a Web-based insurance rating and automation solution provider, as part of its stated plan to expand its technological footprint in the insurance industry.
According to Brookfield, Wis.-based Fiserv, the acquisition will allow it to provide Web-based comparative insurance rates directly from insurance carriers to producers in real time. Details of the transaction, which closed Nov. 1, were not disclosed.
Xcipio, located in East Windsor, Conn., provides Web-based, real-time rating and automation solutions to insurance agents, brokers and carriers in Connecticut, said Fiserv. Xcipio will operate as a division of FSC Insurance Solutions, a Fiserv business unit.
FSC, headquartered in Agoura Hills, Calif., is a full-service provider of personal lines rating solutions for the insurance industry. Fiserv provides information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing, and software and systems solutions.
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