Fiserv Inc. has acquired InsureWorx, a provider of core processing software solutions for workers' compensation, commercial property/casualty, and risk administration, and will become part of Fiserv Insurance Solutions.
Fiserv's new P&C solutions operation will provide technology solutions and professional services to more than 60 workers' compensation carriers and state funds in North America. Gary Sherne, CEO of InsureWorx, will assume the role of president of Fiserv's P&C solutions operation, leading more than 600 insurance technology professionals. InsureWorx realized $43 million in revenues in 2005.
"The addition of InsureWorx enhances our capabilities in the important workers' compensation segment," says Jeff Yabuki, president and CEO of Fiserv Inc. "The InsureWorx team brings a blend of insurance knowledge and technology expertise that will serve to expand Fiserv's client relationships and further accelerate our growth strategy."
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