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SE2 (Topeka, Kan.), a provider of technology solutions to the life and annuities insurance industry, has announced it has acquired Convergent Financial Technologies (Hamilton, N.J.), growing its SaaS based product offerings for the insurance and retirement solutions industry.
With the acquisition comes Convergent’s flagship offering UV Cloud, which SE2 describes as a highly scalable cloud-native platform that enables more effective management of assets and calculation of unit values for a broad range of variable products, including mutual funds, alternative investments, and retirement products. The product suite provides insurance carriers reporting and data analytics capabilities, delivered through SaaS or as a bundled service offering. Through these capabilities, SE2 says UV Cloud serves to accelerate transformation of fund management, pricing, and trading needs.
“We share a common goal of helping insurance and retirement solution providers leverage advanced technology to deliver superior outcomes for producers and end customers,” comments Mark Schultis, CEO, SE2. “We are excited to welcome the Convergent team to the SE2 family and build upon the success of UV Cloud.”
Common Focus on Digital Enablement
“This deal is a perfect fit for both Convergent and SE2, given our complementary offerings and joint focus on providing digital enablement tools,” says William Bolton, CEO, Convergent. “Together, we will continue to strengthen UV Cloud’s leadership position and partner with our customers to enhance efficiency, mitigate risks, and grow their business.”