Charles Taylor makes follow-on investment in Fadata to enable strategic acquisition of Impeo Software
28 September 2017
Charles Taylor has invested in a funding round for Fadata, the specialist insurance process platform provider, which was acquired by Charles Taylor and The Riverside Company in 2016. This enabled Fadata to make a strategic investment in IMPEO, a digital insurance technology specialist.
Munich-based Impeo develops software and provides IT consulting for insurance and financial institutions. It has developed a suite of front office insurance software solutions including sales, CRM and lead-generation capabilities.
The acquisition of Impeo will allow Fadata to add a front office service to its highly-rated modular insurance process platform, INSIS. Fadata’s customers can now select the insurance management modules they require or benefit from a comprehensive end-to-end solution.
Impeo will also accelerate Fadata’s penetration of key European markets, including the important German, Austrian and Swiss – i.e., DACH - region.
Fadata was acquired by Charles Taylor and The Riverside Company in 2015. Charles Taylor’s insurance technology business, Charles Taylor InsureTech, is the global preferred implementation partner for INSIS.
David Marock, Group Chief Executive Officer, Charles Taylor said:
"Charles Taylor is extremely well positioned to capitalise on the exciting growth in insurtech. Our InsureTech business is gaining traction in the London and international markets and is already implementing INSIS in the Latin American and European markets. Combining Impeo’s impressive insurance front office technology with Fadata’s highly-rated INSIS system adds significantly to our overall offering.”
John Macdonald, Chief Executive Officer, Fadata said:
“The acquisition of Impeo accelerates our presence across the European market and opens many opportunities to expand the solutions we offer customers to help them interact with their clients, business partners and sales channels. Customers and prospects of both companies will greatly benefit from our expanded offering within our Insurance Process Platform.”