(Image source: Utilant homepage.)
Utilant (Buffalo, N.Y.), the provider of a loss control survey management SaaS platform for the property/casualty industry, has acquired IMTI Systems (Riverdale, N.Y.) through an asset acquisition. Utilant describes IMTI as a long-standing pioneer in loss control technology solutions with a history of supporting many of the top property/casualty insurance companies as customers over the years. Utilant officially closed the acquisition on Dec. 31, 2019.
Utilant characterizes the acquisition as further establishing its leadership position as a loss control provider, and as the insurance industry’s preferred “hub” connecting insurance core systems, vendor survey companies, and InsurTech companies to help reduce losses and improve the performance of their customers.
“IMTI has played a critical role driving innovation in loss control survey management and automation for the insurance industry,” comments Douglas Falkenburg, President and CEO, IMTI Systems. “Leading in this industry since 1979 and serving our customers well has been a personal privilege and great accomplishment for our company. Along with the rest of the IMTI team, I look forward to joining Utilant and continuing to develop and push innovation into the loss control market.”
With the acquisition of IMTI, Utilant reports that it is executing on an extensive plan to seamlessly service IMTI’s customer base, allowing for IMTI customers to receive excellent customer experience and support.
Continuing Legacy in the Market
“Utilant is very excited about the IMTI acquisition and the related industry experience, customer base, technology, and data that it brings to the future of our company,” comments Pat Davis, CEO, Utilant. “IMTI Systems has written the book on loss control, and we are thrilled that they can continue their legacy in the market within Utilant and jointly invest in the industry’s future with our combined loss control knowledge and expertise.”
The combined market share of the joined companies includes what Utilant characterizes as an expanding global footprint with an international presence in the U.K., and an increased depth of expertise in Jurisdictional Objects, Equipment Breakdown, and Premium Audit.