(Image source: Imburse Payments.)
Duck Creek Technologies (Boston), has announced that it has undertaken a definitive agreement to acquire Imburse Payments, a Swiss-based (Zurich) modern payments platform. The acquisition is expected to close during the second fiscal quarter of 2023.
Imburse offers a modern, cloud-native software-as-a-service (SaaS) payment solution, built for the insurance industry, bringing greater ease and efficiency into end-to-end insurance transactions, according to a Duck Creek statement. Imburse enables insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, seamlessly integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place, the statement says. Duck Creek describes the platform as consumer friendly, providing policyholders with both an easy-to-use, flexible payments experience and the ability to quickly and securely direct payments.
As part of Duck Creek, Imburse will continue to serve its existing client base and markets, while accelerating expansion plans for new clients across Europe and into North America and Asia-Pacific, according to the vendor. The Imburse platform will continue to be available on a stand-alone basis and will also be fully integrated with Duck Creek’s suite of technology solutions, further enabling carriers’ digital transformation goals with modern tools.
“Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also gives carriers incredible flexibility and payment choices,” comments Mike Jackowski, CEO, Duck Creek Technologies. “Imburse has a strong team that embodies Duck Creek’s core values. They have deep expertise across the payments ecosystem and will help to broaden Duck Creek’s insurance industry leadership.”
Modern, Transformational Payment Solutions
“Being part of Duck Creek will further accelerate our mission to simplify how businesses around the world access the global payments ecosystem,” comments Oliver Werneyer, CEO, Imburse. “We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry for the future.”